Building a Guest House Makes Money Sense Too

Guest HouseAs baby boomers age, more and more 40-something and 50-something year-old children are expanding their family roles to become caregivers for their aging parents. Illness, loss of faculties, and natural age are all factors that bring about the sudden decision of choosing whether mom or dad should be moved into a retirement community, nursing home or other commercial home facility.

We are seeing a growing interest in building a guest house on one’s property these days rather than having a second housing location for the aging parent miles away from the rest of the family. And, there’s no surprise why that is. Being around family enhances one’s quality of life. A guest house allows for that experience—and pays for itself too.

Consider these facts about building a guest house:

  • The cost to house one parent in a quality commercial facility is a minimum of $4,000 per month.
  • That’s $48,000 per year or $240,000 in 5 years.
  • Most guest houses will cost between $100K to $200K to build.

In just four years or less, your guest house will become an asset that has paid for itself while enhancing your parent’s quality of life—a win win situation.

Then, when life changes, the guest house provides you with the additional benefit of an increased home and property value.

We encourage families to consider a guest home designed and built by Authentic Designs and Remodeling. We can produce a design that will accommodate family members as they continue to age or design the guest house with the expectation that the person is going to age.

For our family living guest houses, we pay special attention to the details needed by aging parents, including:

  • Custom flooring that’s flat and easy for walking or wheel chair mobility
  • Walk-in showers versus traditional and custom bathroom remodeling and design.
  • Larger door openings and custom furniture for oldies.
  • Fans for better air circulation
  • Higher heat standard than normal because people get colder with age
  • More heavily insulated walls
  • Approach to guest house is more level than stairs

All of those things get considered and fitted when planning for a quality guest house. Much more than just a financial investment, a guest house for mom or dad or any other family member is a gift of quality of life that makes financial sense too.

Invite our contractor and designer to come to your location to meet with you in person about design and building of your guest house. We can be reached by phone at 858-487-1065 or by using the contact form.

 

by Dean Jones in Money Sense | 0 comments

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