Many people fall into the trap of assuming that others have all of the same knowledge that they do, but that often is not the case. I am guilty of this time and time again. As someone who works and lives in Celebration, FL, I obviously know an inordinate amount about the area and homes here, and often times I assume that my clients do as well.
Celebration FL Homes have some rather unique features, and I realized that most people are unaware of one of the most popular: Garage Apartments. Some of the homes are built with full apartments over the garage. By full apartment, I mean they have a kitchen, bedroom, and bathroom. They are equipped as a separate dwelling unit. This was something I have only ever seen in a couple of other areas, and it offers the home owner several interesting options.
Garage apartments range in size as the garages themselves vary. You can see anything from a 500 square foot studio apartment over a 2 car garage to a 1200 square foot 2 bedroom apartment over a 4 car garage. Many people initially are not sure what to do with these spaces, but there are a variety of great ways to utilize them to the homeowner’s advantage.
First and foremost, the homeowner can use them as a rental property. Garage apartments are in high demand, and the homeowner can expect to get anywhere from $700-‐$1400 per month depending on the size and the utilities included. This can be a significant amount of the monthly mortgage on the property.
Secondly, people use them for extended family. Whether they are guest or live with the homeowners full time, the garage apartment allows each party to have privacy and a space of their own.
A new trend that I have noticed amongst some of my clients, is to use the garage apartment as a vacation home and rent out the main house. This may seem strange at first, but many people have been buying their retirement homes now even if they don’t plan to make the move for a few years. If they rent the main house until they move permanently, they can cover the monthly carrying costs of the home in most cases.
A great home with a garage apartment is 1115 Rush Street. This home features a wonderful floor plan with a first floor master suite; 3 bedrooms, 2 bathrooms, and a loft upstairs, an office, a fenced backyard, and lastly a garage apartment with its own entrance. This is a studio apartment that would rent for approximately $700-‐800 per month. The homes is listed at a great price of $515,000 or $151 per square foot.
If you would like to know more about Celebration FL real estate, garage apartments in Celebration, or this Celebration home in particular, feel free to contact me any time.