A separate living unit within or adjacent to a single-family home, often referred to as a secondary suite, which can be used by family members or rented out to non-family tenants. Typically includes its own bedroom, small kitchen, and bathroom.
A basement suite, also known as an accessory apartment, is a separate living area typically located in the basement of a single-family home. It usually includes sleeping, cooking, and bathroom facilities.
A Granny Flat is a self-contained living area located on the same property as a larger, primary residence. Often named for its common use as a living space for elderly family members, such as grandparents, it is also known as an Accessory Apartment or Mother-in-Law Suite.
A Guesthouse, also known as an accessory apartment, is a secondary housing unit on a single-family residential lot. These units provide additional living space and can serve a variety of purposes, including housing for guests, rental income, or living space for extended family.
A secondary suite, also known as an accessory apartment, is a self-contained dwelling unit within or attached to a primary residential building, designed to house tenants or relatives while providing rental income to the homeowner.
With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!