Homeowner Benefits: Extended Family: As mentioned briefly before, creating space for extended family such as a young adult, elderly family members and young couples beginning a new family are clear benefits. For a family with aging parents, this might offer an alternative to the financial burdens of rising rental costs on fixed income and reducing the cost of in-home care. Another option afforded to the homeowner would be the option of moving into the
backyard cottage and renting out the larger home. An on-property downsizing alternative, supporting upkeep and convenience.
Homeowner Benefits: Property Addition: The addition of your cottage may measurably increase the value of your property. In the eyes of a future buyer, having a secondary income (rental) source in addition to the existence of greater square footage is a plus. Coupled with the potential interest and expense deductions associated with the dwelling offer additional benefits. (Consult with a tax specialist for exact figures.)