What is a coach house? Although the original purpose of these houses has changed from practical to cosmetic, they tend to vacillate in and out of popularity. Right now, they are very popular for many reasons. Here are the basics of what a coach house is and how they are used today.
What was a coach house originally?
In its original state, the coach house was a smaller structure on a property that was meant for the horses and carriages that carried people around in the 19th century. These structures are separate from the main house on a property.
What is a coach house today?
In the 1970’s and now in its modern form, the coach house refers to a small apartment with a single door for four separated units. The original and the updated definitions are both relevant in today’s real estate market, as many cities have properties of both types that are still available for residential living and rental unit space.
Many old school coach houses are converted into the modern coach house structure for rental purposes and sometimes as a primary residence for the owner.
What can I do with an old school coach house?
The separated carriage house unit has been “grandfathered” into current real estate law. Being grandfathered in means that if a property already has a separate coach house on the property, it can stay on the property. However, these kinds of structures cannot be built brand new on a property. Additionally, if you want to modify an old school coach house that is grandfathered on your property, you must adhere to certain rules of your municipality. It is always advisable to consult a professional architect before making any changes to your old school coach house in order to stay in compliance with the law.
Where are these grandfathered old school coach houses?
The old school coach house structure is still prevalent on older properties in Chicago’s historical neighborhoods, although there is obviously no practical purpose for it in the modern world. They do, however, make for a beautiful cosmetic addition that provides a great deal of passion and history for certain buyers. In most cases, these old school coach houses are not a hindrance to selling a property, and in some cases, they may actually increase the property value.
Old school coach houses are usually out of compliance for one of two reasons: The single exit is a fire hazard by modern standards, and zoning ordinances do not allow for residential dwellings above garages. The grandfathered units are allowed to stay as they are, but any new structures must adhere to these updated codes and zoning ordinances.
What are the uses of a modern coach house?
The modern coach house is a structure that houses four people in a very consolidated space. This means a great deal of opportunity for property owners with the wherewithal to manage tenants on a property. There are four separate units in the modern coach house, because the lower part of the structure is usually modified from its previous carriage holding and stable formation. These units can be modified into loft units or open space sections, and the upper units are usually more traditional, as they were living units when the structure was an old school coach house.
Many homeowners will use one of the units as a primary residence while renting out the other three. This gets around many of the regulations that some cities have even for grandfathered coach houses. It also allows homeowners the ability to take several tax deductions that would otherwise be left. Some of the most effective units are beside college campuses in cities like Chicago and Springfield.
Coach houses run up against the limit for the loans that many government sponsored entities (GSE’s) offer. The Federal Housing Administration (FHA) sets its limits at a four unit structure, and many people think that this limitation may have come about in order to include the coach house.
How much can I expect to pay for a coach house?
Coach houses are usually priced below houses with similar bedroom/bathroom counts because of the unique formation of the housing units; however, these prices can change with the rising and falling tides of pop culture. If the architecture comes back into vogue, then you can expect to pay a premium for a property with a coach house on it. If the coach house is serving a legitimate purpose on the property, then it may add to the value of the property no matter the pop culture reference.
The fact that many coach house properties are included in major GSE loan programs makes them much easier to move. Most of the properties that coach houses are on also fall within the realm of the conforming loan, meaning that it can be bought with no money down in some circumstances.
2 Point Highlight
It is always advisable to consult a professional architect before making any changes to your old school coach house in order to stay in compliance with the law.
Coach houses are usually priced below houses with similar bedroom/bathroom counts because of the unique formation of the housing units; however, these prices can change with the rising and falling tides of pop culture.
