As more and more baby boomers are reaching the age of retirement, many are looking for ways to downsize. Some may be looking to move into a smaller home, while others may be looking to move into an apartment or retirement complex. For baby boomers and senior citizens looking for a more affordable solution, granny pods may be the answer.
What are Granny Pods?
A granny pod is similar to a guest house, in that it is a small home located in the yard of a main full-sized house. The size of a granny pod typically ranges from 300 to 500 square feet. The granny pod houses the parents of the owner of the main home, allowing the parents and the child to live close to one another again. This is a way for the kids to care for their parents and live closer to them without living under the same roof.
Features of Granny Pods
Granny pods can comfortably fit one to two people, so this is ideal for both couples and single seniors. Each granny pod comes with a bedroom, living room, bathroom, and kitchenette. The entire housing unit is mobile, so the parents can move to wherever their child decides to move.
Granny pods come equipped with special features that are particularly appealing to seniors. These features vary, and may not all be available for every granny pod. One such feature is universal design. If a senior is handicapped, granny pods can have wide doorways, an open floor plan, and a walk-in shower to accommodate them.
Additionally, if health monitoring is a concern, some granny pods are equipped with a virtual system. This allows occupants to track their blood pressure, glucose levels, heart rate, and more and then share the results with their family and doctor. These virtual systems can even verbally remind the senior to take any important medication.
Furthermore, some granny pods are so fancy that they come with smart home features. Such features would allow the occupant to lock doors, close window shades, and control lighting and heating with just their voice.
The Price of Granny Pods
Depending on the size and included features, the price of granny pods can range from $40,000 to $125,000. While you will not be able to take a mortgage out to cover the cost, the amount you will need to pay up front is similar to that of a downpayment on a regular home.
Lakeside Title Is Here to Serve You!
Lakeside Title provides title insurance and numerous title-related services, all while making sure your transactions and funds are protected and secure. Our processes streamline residential and commercial real estate transactions for lenders, realtors, buyers, and sellers. To learn more, give us a call at 410-992-1070. We look forward to the chance to serve you!
Receive News & Insights Direct to your Inbox