Often, mother-in-law’s apartments are used to provide self-contained space for elderly parents, adult children, or any family member who wishes to have a caregiver or relative nearby. When it includes its own kitchen or bathroom, it can provide a convenient space for guests or tenants. And, of course, it can provide additional storage space for you and your family if you feel like your home is overflowing with years of accumulated items.

There are many advantages to having a master bedroom, whether attached or detached. The first is that such housing can be much more economical than paying for a retirement home or long-term care facility for a family member in need of care, while still allowing them to live on their own if this is the case. is his preference.

In fact, data shows that such an arrangement is more common than ever, with the Pew Research Center noting in 2019 that 20% of Americans live with more than one generation of adults in their household. A survey by John Burns Real Estate Consulting also found that over 40 percent of home buyers, when making their purchase, consider providing space for an adult child or older parent.

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But even if you don’t have parents you are planning to move in with, a parental suite can be beneficial if you plan to house a nanny or childcare professional for the long term. This way, they can have their own space to retreat without feeling like they have to share with the host family at all times.

Hosting guests can also be an easier process when you have a master bedroom suite and can protect your privacy as well as that of your guests. Or, if you are looking to generate additional income, this can be a useful addition to your home if you are considering renting out the suite.

If you are building a master bedroom in addition to an existing home, you may need to check city regulations or homeowners association rules to make sure your additional unit is compliant. It can be easier – and cheaper – to renovate an existing space, such as a garage, attic, or basement.

Admittedly, such a suite also requires more in terms of taking care of wear and maintenance. Having to clean, vacuum, and generally maintain a fully separate living space (if not rented) can be onerous, and some homeowners may not feel up to the task.

The cost can also be prohibitive – for example, the cost of building one, if your home did not have a master suite, can cost between $ 40,000 and $ 125,000. There are also potentially high insurance costs to consider if your policy does not cover additional living units. Additionally, utility bills for a home with a master suite can be much higher than for a single home, as you’ll have to pay for energy and water for the separate additional unit.

You’ll also want to make sure the space is soundproofed, as well as has its own kitchen and entrance, as everyone – both the owner and the people living in the secondary unit – appreciate their privacy.

In older columns, however, a master bedroom suite almost universally increases a home’s value. If attached, this is additional square footage for your home, which is always a benefit to buyers. If it is detached, buyers who hope to rent their space for additional income will find it attractive and will almost certainly be willing to pay a higher price.

Researchers have found that having a master bedroom will increase your home’s value by about 7-10% higher than its most recent sale price. That alone can make it a project – or a purchase – worth investing in.