We spent $75,000 transforming our basement into an in-law suite for my mom. Living together works for our family, and we all save money.
A family shares their experience of purchasing a home in Connecticut and renovating the basement into an in-law suite for the mother. The arrangement allowed the family to combine incomes to afford a home in a high-cost area while providing a living space for the grandmother.
Why it matters
This reflects a growing trend of multi-generational living as a financial strategy to combat rising housing costs.
We bought a house with my mom and spent $75,000 to renovate her in-law suite. It saves us all money. Taylor Rains/Business Insider My husband and I bought a house with my mom and renovated the basement as an in-law suite. The $75,000 project took about two months, and my mom is thrilled with the results. Living together is easier than expected, and it made buying a house in Connecticut more affordable. I never thought I'd live with my mom again. But in 2024 — as my husband and I struggled to find a house in Connecticut that we could afford, and my mom was looking for a way out of Florida — I had an idea: What if the three of us combined our incomes and bought a house together ?
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