Provo, UT has become a hotspot for Provo home buyers and investors in search of homes with mother-in-law suites due to the increasing demand for these houses.
In this comprehensive guide on “Homes for sale in Provo Utah with mother-in-law quarters”, we will explore the reasons behind this growing trend and explain the benefits of owning a home with an accessory apartment.
We will also discuss current market trends in Provo, including average time on market and comparisons between various housing options. Additionally, we’ll shed light on how these unique properties can generate income through rental units by understanding prospective tenant profiles and factors influencing rental rates.
You will be able to do your home search of properties in Utah featuring mother-in-law quarters available in Provo’s real estate market. Finally, as education plays a crucial role when purchasing a property, we will provide insights into researching school districts and utilizing GreatSchools ratings to make informed decisions while searching for your perfect homes for sale in Provo Utah with mother-in-law quarters.
Table of Contents:
- The Rise of Homes with Mother-in-Law Quarters
- Reasons for the Growing Demand
- Versatility and Cost-Saving Advantages
- Current Market Trends in Provo, Utah
- Benefits of Buying a Home with an Accessory Apartment
- Generating Income Through Rental Units
- Beautiful Homes with Mother-In-Law Quarters in Provo, Utah
- Choosing the Right Home in Provo, Utah with GreatSchools Ratings
- FAQs in Relation to Homes for Sale in Provo Utah With Mother-in-Law Quarters
The Rise of Homes with Mother-in-Law Quarters
Homes with mother-in-law quarters are gaining popularity in Provo, Utah due to the added living space, privacy, and potential for extra income. One way to deal with the increasing home prices in Provo is to buy a home that has a mother-in-law apartment you can either rent out or have a family member move in with you to help curb the mortgage payments.
Reasons for the Growing Demand
- Multigenerational Living: Separate living areas provide comfort and independence for extended family members.
- Aging Population: These properties can accommodate elderly parents while maintaining their dignity and autonomy.
- Rising Housing Costs: Purchasing a home with an accessory apartment can offset mortgage payments or property taxes.
Versatility and Cost-Saving Advantages
Mother-in-law quarters can also be used as rental units, potentially earning homeowners passive income. Equipped with kitchens and bathrooms, these units save buyers money compared to building from scratch.
Location within desirable school districts and proximity to local amenities contribute to the growing popularity of these homes in Provo, Utah.
Realtor.com predicts that the requirement for dwellings with mother-in-law suites will remain on the upswing in the foreseeable future.
Make sure to vet each property you are interested in. Never take a seller’s word for it that their house is a legal house with Mother-In-Law quarters. You have to verify this with the city of Provo.
To start your search for your home with mother-in-law quarters, click here.
Current Market Trends in Provo, Utah
Homes for sale in Provo, Utah with mother-in-law quarters are increasingly popular among buyers, There is only one property for sale that is listed as an ADU unit, this means accessory dwelling either attached or not attached to the property. It is currently listed at $1,800,000.
On average, the lower end price point mother-in-law quarters stay on the market for around 40 days before they have offers.
Average Time on Market for Different Property Types
- Condos: There are currently 40 condos available in Provo, spending an average of 35 days on the market.
- Townhouses: With 25 townhouses listed for sale, their average time spent on the market is approximately 45 days.
- Multi-family units: The multi-family unit category includes duplexes and triplexes; there are presently 22 such properties available with an average time of about 50 days to sell.
You won’t be able to turn condos or townhouses into mother-in-law quarters which would be approved by the city of Provo or by the HOA or Condo association.
Comparing Various Housing Options in Terms of Popularity
Homes featuring mother-in-law quarters offer a unique blend of versatility and cost-saving advantages that make them particularly attractive to potential buyers.
Demand for these dwellings is likely to increase as more individuals recognize the advantages they provide.
For those interested in exploring all available options when searching for a new home in Utah County, advanced search tools like our up to the minute listing search for Provo properties, catered specifically towards local listings can be an invaluable resource.
By keeping a close eye on factors such as average time on market, housing options available, and growing demand for homes with mother-in-law quarters, you’ll be better equipped to navigate the ever-changing landscape of Utah County real estate.
We are here to help you! I am Katerina Gasset. My son is Tristan Gasset. We are a mother and son real estate team, The Gasset Group brokered by eXp Realty. Text or call us at: 561-603-9592.
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Benefits of Buying a Home with an Accessory Apartment- FAQ
Save money by buying a home with an accessory apartment instead of building one from scratch, and enjoy the convenience of having a separate living area for guests or family members.
Cost Savings Associated with Purchasing Pre-Built Accessory Apartments
Buying a home with a mother-in-law quarters in Provo, Utah can save you money on construction expenses and potentially qualify you for better financing options and lower interest rates.
Ideal Scenarios When Considering Buying a House Featuring Mother-In-Law Quarters
- Multigenerational Living: Keep aging parents or grandparents close by with separate living spaces under one roof.
- Rental Income Potential: Rent out the accessory apartment to offset mortgage payments and make homeownership more affordable.
- Growing Family Needs: Convert part of your house into an independent living area as your children grow older and require more space.
- Frequent Guests: Provide private accommodations for out-of-town guests within your own home instead of relying on hotels or other temporary lodging options.
When searching for homes for sale in Provo, Utah with mother-in-law quarters, consider your unique needs and circumstances to make an informed decision that benefits both your family and financial goals.
Generating Income Through Rental Units
Owning a property with an attached rental unit provides homeowners with an opportunity to earn passive income by leasing it out either short-term or long-term basis depending on local regulations. This can be especially beneficial for those who are seeking additional sources of revenue without the need for constant management and oversight.
Prospective Tenant Profiles Seeking Rental Spaces Like Basement Apartments
- Young professionals: Individuals in their early career stages often look for affordable living spaces close to work, making basement apartments an attractive option.
- College students: Proximity to universities and colleges makes these units appealing to students seeking off-campus housing options. With BYU and UVU being so close, this is ideal
- Families: Smaller families may find mother-in-law quarters suitable due to lower rent prices compared to larger homes or apartments.
- Elderly relatives: Some families choose accessory apartments as a comfortable, private space for elderly family members while still being nearby for support and care when needed.
Factors Influencing Rental Rates Based on Location and Amenities Offered
Rental prices can be impacted by numerous elements, including the area, size of the accommodation, state of repair, services accessible (e.g., parking), closeness to public transport links, shopping centers, educational institutions and parks etc. To determine competitive pricing within your area:
- Set up a meeting with us to go over the listings available and the different features and benefits. We will be your real estate advisors and lead you to get the information you need to make your decisions.
Homes for Sale in Provo Utah: Mother-in-Law Quarters
Looking for a home in Provo, Utah with extra living space? Check out these stunning properties that offer mother-in-law quarters:
Brick Ramblers with Breathtaking Views
Enjoy spacious layouts and stunning views in these brick ramblers, which offer around 3400 square feet of living space and large windows that let in natural light.
Custom-Built Homes in Private Neighborhoods
For a more personalized touch, consider custom-built homes in private neighborhoods that provide an ideal setting for entertaining guests or accommodating extended family members. There are also a few new construction homes you can have built on your lot or the builder’s lot.
Charming Victorian-Era Properties Near Amenities
Combine old-world elegance with modern conveniences in charming Victorian-era properties located near desirable amenities such as restaurants, shopping centers, schools, and parks.
You will see these in downtown Provo where you can walk most places and enjoy the historic scenery and buildings.
- Convenient Locations: Many homes with mother-in-law quarters are situated near popular attractions, making them highly desirable for potential tenants or family members.
- Generous Living Spaces: These properties typically offer ample room for both the main residence and the accessory apartment.
- Unique Architectural Styles: From classic brick ramblers to custom-built homes and Victorian-era properties, there’s a wide range of options available for buyers with different tastes.
Consider these factors when searching for your dream property in Provo, Utah. Don’t miss out on the opportunity to find a home that meets your needs while providing additional space for loved ones or rental income opportunities.
Choosing the Right Home in Provo, Utah with GreatSchools Ratings
Location, school district, and GreatSchools ratings are factors to consider when searching for homes for sale in Provo, Utah with mother-in-law quarters.
Why School Districts Matter
Buying a home in an area with outstanding educational opportunities can bring tremendous value to your purchase and provide a secure living atmosphere for you and your family. Check out the Provo City School District website for information on specific school districts in the area.
GreatSchools Ratings: What You Need to Know
GreatSchools ratings evaluate schools based on academic performance, equity among students, and extracurricular activities offered. Keep these factors in mind when browsing homes for sale with mother-in-law quarters.
- Average Test Scores: Higher scores mean better student performance.
- School Environment: Factors like teacher-student ratio and parent involvement can impact learning outcomes.
- Educational Opportunities: A well-rounded education includes exposure to various subjects, extracurricular activities, and advanced courses.
Note that school district boundaries supplied by Pitney Bowes are subject to change, so verify the information with local authorities before making any decisions.
When selecting a property in Provo, Utah with mother-in-law quarters, take into account the quality of the local school district for potential long-term value. Investing in a property within a reputable school district benefits your family and adds long-term value to your investment.
FAQs in Relation to:
Homes for Sale in Provo Utah With Mother-in-Law Quarters
What is a mother-in-law cottage?
A mother-in-law cottage, also known as an accessory dwelling unit (ADU) or granny flat, is a separate living space typically located on the same property as the main house.
It often includes its own bedroom, bathroom, kitchen and living area to provide privacy and independence for extended family members or guests.
Is Provo a nice place to live?
Provo is considered a great place to live due to its strong economy, low crime rates, excellent schools and beautiful surroundings.
With access to outdoor recreational activities like hiking and skiing in nearby mountains, residents enjoy high quality of life.
Additionally, Provo’s vibrant downtown offers diverse dining options and cultural events.
How is it to live in Provo Utah?
Living in Provo offers residents numerous benefits such as affordable housing options, safe neighborhoods with low crime rates, highly-rated schools, and stunning natural beauty.
Residents also have easy access to outdoor recreation opportunities including hiking trails, ski resorts like Sundance Resort, and parks like Provo City Cemetery Park.
Looking for a versatile and cost-saving home in Provo, Utah? Consider buying a property with a mother-in-law quarter, which can generate rental income and add value to your investment.
Don’t miss out on the increasing demand for homes with accessory apartments in Provo, Utah. Explore your options and make an informed decision.
Call or Text us at: 561-603-9592. Katerina Gasset and Tristan Gasset, mother and son team, The Gasset Group brokered by eXp Realty.
Our team sells businesses in all 5o states. Our team sells homes in all 50 states and we will get you matched up with the perfect real estate agent for you to sell your home in whatever state you live in, to move to Utah.