We have a 7,700 sqft lot with a 80-yr old 1300 sqft house that's worth approx. 1.3 million. Is it worth it to spend $200,000 to build a 600 sqft guest house in the back yard from an investment standpoint?Is it worth it to build the guest house?
Where are you and what are the other homes in your area doing on there property. You don't wanat to be the first to overdevelope the neighborhood. Do you have a pool? A guest/poolhouse might be a consideration. Are you planning to live there for many years or flipping the property?
Sometimes you can answer the question by playing devil's advocate.
Do you want your ';guests'; IN your house ALL day?Is it worth it to build the guest house?
If you have a lot of overnight guests, or plan to rent the place out, it would be a good investment.
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