Real Estate Value Help?

[glopop11]

<p>Does anyone know the difference in home value for an in-law apartment versus an accessory apartment? </p>

<p>My home has an in-law apartment. Our local zoning laws state that it can only be rented to family and that it cannot have separate utilities. I am considering applying to have it approved as an accessory apartment, which would allow me to rent it to anyone and have separate utilities.</p>

<p>I plan on putting the home on the market this spring and wondering if it would be worth the work involved. Thanks for any insight!</p>

[artloversplus]

<p>I checked it for you on line and here is some of the possible answers:</p>

<p>

Q. What do I need to know before building an accessory apartment?
A. You need to know if your property:

1. Meets the minimum lot size of the zoning district, and
2. Is connected to City sewer. </p>

<p>If both are met, you will likely only need an approved Building Permit;

</p>

<p>I think you must ask the question to your city’s building/planning department to get the exact requirements in your town, no one else can answer that.</p>

[artloversplus]

<p>regarding the value, I think the separate units will be valued higher. But without knowing the local pricing, I could not tell you in your situation how much more you can sell the next year. Also, if the additional value will warrant the construction cost.</p>

[VeryHappy]

<p>I think this must be governed completely by local laws and codes. I’m not sure we will be much help for you here.</p>

<p>Regardless, if you can’t establish separate utilities, why not just charge more rent to cover the cost?.</p>

[jym626]

<p>Is your home in an area that has a lot of attached apartment rentals for, perhaps a student or something? Would the extra work really be adding value to your home, or would it cut down on the number of interested buyers? Do you plan to have it leased/occupied when you sell your home?</p>

[BunsenBurner]

<p>In my neck of th woods, MIL and ADU mean the same thing and have to meet all codes to be recognized as “legal”. ADUs are governed by local codes, as VH said. For example, in my neck of the woods, a detached ADU cannot be bigger than 1/2 of the main dwelling’s square footage, has to have a separate parking spot, but there are no requirements that the house has to be on sewer. Septic is fine as long as the system is big enough to handle both dwellings. Attached ADUs have different requirements, and other cities and counties have their own ADU codes. </p>

<p>Where I live, freestanding ADUs are more valuable than attached units, but in Seattle any ADU is considered a desirable feature. I recommend looking at the local real estate listings and sold houses data and talking to a few realtors who specialize in such real estate.</p>