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An in-law apartment (also referred to as an in-law suite or mother-in-law suite), is an extension of your current home, basement or separate out-building that features all of the common comforts of your primary home, only smaller.
They typically feature the basic amenities such as a bathroom, kitchen and bedrooms, with a separate front entrance to your primary home.
Absolutely. Depending on your space limitations of course. The general principle of an in-law apartment is to create a separate living space to that of your existing primary home.
Just like a standard home, there are several financing options available to you should you consider building an in-law apartment.
Depending on eligibility, you should be able to source an equity loan company that is willing to finance your project.
Typically, it is cheaper to build-up (or down) rather than to build-out. However this is not always certain, so you should always consider both options. Costs will also depend on the exact work the contractor must do, and which option is more time and labour intensive.
This is a difficult question, as it is subject to numerous factors. In theory yes, you can. However the laws on renting an external build will vary from location to location, so it’s wise to contact your local council before advertising the space for rent.
The build will likely need to adhere to specific public health and safety standards before you are given the green light to rent.