We have family moving to town, and are about to buy a home. Thought it be easier if we all lived closer together. However, we are unsure how hard it will be to sell the home down the road. Any advice?
Given your description of your circumstance with family living together and using the garage apartment as an extension of the main living space, I'd say go for it. The hiccups come when you are trying to sell a property in which the garage apartment is rented out (thus, you have to sell the property with the current tenant in place and the Buyer has to assume that lease in place). Just know that garage apartments are valued differently, as opposed to the value assessed for the main house. I'd be happy to explain more if you are interested!
If the garage apartment is built to code, it will add value as its square footage can be added on the appraisal district official square footage of the house. The issue is that often, these garage apartments are DIY jobs and do not really comply with codes and it is always a discussion after the inspection if the inspector finds many code violations.
The short answer is depends on a few factors...how you market it...amenities and the physical location of the property. Is the garage apartment up over the garage or along side? In the Heights & Med Center it's highly desirable to have a garage apartment as it lends to rental income. In the suburbs the property could be marketed a secondary living space for the college or high school student who wants privacy. You can sell just about anything if you appeal to the correct market. Best of Success! Debra;)
With any property it is hard to predict the future. However as noted in the article below, even new home builders are building homes for multi-generations to live. It is a growing trend, where buyers sometimes will forego the traditional formal living and formal dining and prefer to have a 2nd master in a home to accommodate older parents, or perhaps adult children unable to find housing. That said, it is important in your home search to find a home that will meet your family's needs, but also be in an area that will show continued growth and offer features future buyers may want such as proximity to shopping, good schools etc. for future sale. If zoning allows, you may also be able to use the garage apartment as a rental property when it is not occupied by family or it may make this attractive to a future buyer or investor. It is also important to connect with a REALTOR who can assist you in your home search. If you are looking in the Clear Lake, Friendswood, League City or Pearland area I would be happy to assist you. If not, you can use the "find a pro" tool on HAR.com and search for agents in your desired location.