[quote=Russell]In case anyone doesn’t already know, second houses , even legal rentals, don’t normally increase equity much so this probably shouldn’t be a motivating factor to build one. It could easily end up being a break even project, or worse.
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That is ABSOLUTELY correct. It is not a good idea for an investment. We did it because it was the appropriate solution for our family needs with aging parents. Our granny flat is being used for a granny and grandpa.
However, we figure this is cheaper than 3-4 years in an assisted living home. And my in-laws quality of life is much higher than that setting.
