In-Law Suite vs. Senior Living: What It Really Costs NC Families
A Contractor's Honest Look at the Numbers That Matter
We get this question almost every week: "Should we build an in-law suite or look into senior living for Mom?" It's a tough decision, and honestly, the numbers might surprise you.
After helping dozens of North Carolina families through this exact situation, I wanted to break down the real costs so you can make the best choice for your family.
What You'll Actually Pay for Senior Living in NC
Let's be straight about senior living costs around here. They're not cheap, and they keep going up.
Assisted Living:
Most of NC: $4,000-$5,000 per month ($48,000-$60,000 yearly)
Charlotte/Raleigh area: $4,300-$6,000 per month
Smaller towns: $3,500-$4,600 per month
Memory Care: You're looking at $5,000-$6,700 monthly, sometimes more.
Independent Living: Ranges from $2,900-$6,200 monthly depending on how fancy you go.
Here's the kicker - these costs go up 3-5% every year. Some families have calculated they'd spend over $650,000 in 12 years. That's a lot of money that could stay in the family.
Building an In-Law Suite: The Real Numbers
Now, building an in-law suite isn't pocket change either, but let's look at what you're actually investing:
Small Suite (400-600 sq ft): $95,000-$150,000 total Nice-Sized Suite (600-800 sq ft): $150,000-$225,000 total Separate Cottage: $200,000-$320,000 total
Yes, it sounds like a lot upfront. But here's what most people don't realize - you're not just spending money, you're investing in your property. A good in-law suite typically adds 15-25% to your home's value right away.
The 10-Year Reality Check
Let me put this in perspective with a real example. Last year, we had a family in Cary facing this exact decision:
If they chose assisted living: $550,000-$750,000 over 10 years If they built the in-law suite: $180,000 total (including ongoing costs)
That's a difference of $370,000-$570,000. Enough to change your retirement plans, pay for grandkids' college, or leave a real inheritance.
The Stuff Nobody Talks About
Senior Living Extras That Add Up:
Move-in fees (another $3,000-$5,000)
When care needs increase, costs jump $500-$2,000 monthly
All those trips to visit add up in gas and time
Extra services like laundry, medication management, transportation
In-Law Suite Surprises:
Your power bill goes up maybe $100-$150 monthly
Property taxes increase (but so does your home value)
You might need to upgrade your HVAC system
Some neighborhoods have HOA rules to navigate
When an In-Law Suite Makes Sense
After working with so many families, here's when I typically recommend building:
Your parent can still live pretty independently
You actually get along well (this matters more than you think!)
You have the space and your city allows it
You want to keep family wealth in the family
Your parent wants to stay close to grandkids
When Senior Living Might Be Better
Sometimes it's just not realistic to build:
Your parent needs medical care you can't provide
Family dynamics are... complicated
You don't have space or zoning won't allow it
You're already stretched thin with work and kids
Your parent actually wants the social life of a community
Getting Started
If the numbers make sense for your situation, don't wait too long to start planning. The permitting process alone can take months, and good contractors (especially ones who know accessibility) book up fast.
One thing I always tell families - think about where your parent might be in 5-10 years. Building in features like grab bars, wider doors, and a bedroom on the main level from the start is way cheaper than retrofitting later.
The Bottom Line
Look, every family is different. But if your parent is reasonably healthy and you think they could live independently for several years, the math strongly favors building an in-law suite. You're not just saving money - you're keeping family close and maintaining your independence as caregivers.
The families we've worked with consistently tell us that having their parent nearby gave them peace of mind they couldn't put a price on. And when the time comes to sell, that in-law suite becomes a huge selling point.
Thinking about an in-law suite for your family? Contact Plank Construction to talk through your specific situation and property. Every family's needs are different, and we can help you figure out what makes the most sense for yours.