With the ongoing rising house prices I'm seeing a much greater need for homes with second apartments or living space. Buyers looking for homes to purchase together with another family member, parents and kids especially. This is not a terrible idea as many folks who are retiring and looking to downsize, may have the option to contribute some of their equity as a better down-payment into the home and have the benefit of living close to family, who can keep an eye on things while they travel or need some extra assistance.
These young families moving in with their parents also benefit from being able to afford a much larger home, and can enter the market more easily to start building up their equity as well. Not to mention, some extra help with kids as well! If you've never looked into it, it may be something to think about. There are actually some very nice homes with interesting layouts that include separate living spaces for families. We're not talking basement apartments either.
And you'll find something whether it's urban or country living you're after.
Another reason you may consider the in-law setup is to generate a second income to help pay down your mortgage. You may have to share your home for a while as you build up your equity, but this can then be applied to your mortgage or carried over to a different home later down the road. Of course this option would require more careful vetting before you rent out to a stranger, but is a very effective way to handle the more expensive mortgages we have at the moment.
If you're a home owner of one of these type of houses, and you've been considering selling, now is definitely the time!
And, if you have any more questions or possibly considering looking for these types of homes, I would be happy to show you some wonderful options.