Ignore all the relationship stuff for now, and let’s say I wanted to own or renovate a home with the shared spaces of a kitchen, living room, kids bedroom/bathroom, even an office, but with 2 separate bedrooms and private entrances and bathrooms? Maybe a kitchenette in each but it’s not necessary.
What would be the most cost effective AND quickest way?
- Find a home with a layout that can be easily converted/renovated (add an outside door, bathroom if needed, ect)- I like this idea the most.
- Find a single family home with a decent backyard zoned for an additional unit and buy one of those studio homes from amazon or have a builder make one that includes a full bath. But does this need to be legally approved by the city and can that take a long time?
- Find a duplex (this can be more difficult (depending on your area)
- Start from scratch new build
We have around a million dollars all in, which might sound like a lot, but we are in a second tier very popular city that is right below what would be considered a HCOL. We also need to live central to the city as our kid goes to a special school downtown, and we don’t want to have to be 30-40 min away where the land is less expensive. We need at least 4 bedrooms so we can have an office or playroom.
We don’t love the duplex idea because we want a central gathering area like the kitchen, living room, AND the kids room so we can still hang as a family.
Has anyone attempted this? It does feel like the additional unit is the best bet as we can probably do it for 50k plus installation and interior decoration? That would make our house budget 875-900?
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source https://www.reddit.com/r/RealEstate/comments/1wo7vk0/has_anyone_renovated_or_found_a_home_fitted_for_a/
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