Do you have an apartment in your house?

My adult son is going to need a place to live in a few months and DH & I already decided we cannot have him living with us in our part of the house. So we are considering finishing part of our basement to create a studio for him. We will put in proper egress, a bathroom and a kitchenette with a sink, fridge & microwave but no stove. We are not comfortable having an illegal stove in the basement.

If you have a rental unit in your home, has it been a good experience?
If you have a family member living there, has there been any conflict?

Eventually when my son gets his act together we would just reclaim the area as additional living space, not rent to a tenant.
We own rental properties but its much different because there are no privacy issues.
Anyone have any words of wisdom on this?

Message edited 3/2/2010 7:23:45 AM.

Re: Do you have an apartment in your house?

When we were house hunting last summer we were amazed on how many houses have basement apartments it was over half of what we looked at. Including the house we bought. It was DEFINITELY not a legal apartment and the first thing we asked from the seller was to remover the stove. (we were not comfortable with the stove or the idea of renting) I think it would be a good idea to have your son there! Its great to be able to help out and have separate space. And you have safety in mind!

Re: Do you have an apartment in your house?

50% of the houses I have been in have apartments in the basement
(More then 50% in coram, rocky pt and sound beach)

I am amazed

Some don't even have windows in every room! Scary!

Message edited 3/2/2010 8:02:30 AM.

Re: Do you have an apartment in your house?

Right now my mom lives in our apartment and it's legal by permit through out Village. She has been there for a year now and it has it's pluses and minuses at times. But she is my mom, KWIM? We have are days, but I can walk away and close the door. She has a full 1 bedroom, full bath and full kitchen. But in the end, she is helping us out with extra income and we are happy she is living in a safe place.

Re: Do you have an apartment in your house?

We lived in an apartment in my moms house so we could save for a house. We payed to make the apt and I think overall it worked out fine! We were able to save a lot of money and really appreciated my mom giving us the opportunity.

Re: Do you have an apartment in your house?

thanks for the replies!!