If you’re thinking about buying a home that comes with a guest house, it might sound like a great idea – but it’s not for everyone. Just know that a guest house can be a wonderful investment as long as you know the pros and cons up-front.
Should You Buy a Home With a Guest House?
Commonly called accessory dwelling units, or ADUs, guest houses can be a big investment when it comes to repairs and maintenance… and they might not even be legal. It’s not unheard of for a homeowner to construct a guest house without the proper permits.
Here’s what you need to know.
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Tenants
You might want a home with a guest house so you can rent it out on Airbnb or another service like it – or you might want to rent it out on a more long-term basis. Either way, you can make a decent amount of money, but you have to be prepared for the tax consequences, upkeep costs and to pay utilities. You’ll also have to invest your own time or money into cleaning fees.
Permits
Before you buy a home with a guest house, make sure the builder got all the right permits for it. Your insurance company might consider it risky, or the home appraiser might not count it in the home’s value. Your real estate agent can help you make sure it’s properly permitted.
Are You Selling or Buying a Home for Sale in Lake City?
If you’re selling a home in Lake City, we’re the local experts. We know how to market your home aggressively and bring in qualified buyers, and we’d love to help you sell quickly and at the right price.
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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