Accessory Dwelling Units (ADUs) always bring something new to your life. It gives your home a new look; it gives you more space to laze around and even adds value to your property.
With housing costs rising everywhere in the world post-pandemic, adding ADUs to your home can give you some extra space for your grown-up children to spend their time.
The best part of an accessory dwelling unit is that they increase the value of your property. And you see the other way around; you are creating future private space for the children.
Benefits Of Adding An Accessory Dwelling Unit
Building an accessory dwelling unit can be the best decision if you have space and funds to do so. It not only caters to your personal gains but also has environmental advantages.
Adding an accessory dwelling unit has several benefits. Below are our top reasons why you should build Accessory Dwelling Units when you have the chance.
1. Increase Property Value
It is one of the most common reasons why homeowners build an ADU. The amount of money required to build an ADU is quite less compared to building a new overall property. In addition to that, it adds value to your overall property.
The bottom line is that ADUs add equity value to your property and can give a boost to your total property price evaluation by 20% (depending on the local market).
2. Private Guest Accommodations
When friends and family are in the town for a long extended period, having an extra space to spend their time gives both parties privacy. Having separate space for your guests allows minimal restriction in your life.
In addition to maintaining your daily schedule, if you have elderly people in your house, ADU offers a space where you can build your relationship with your grandparents. This option might seem attractive rather than keep them in nursing homes.
3. Cost Benefits
The most amazing fact about the accessory dwelling units is that they are cheaper compared to the new unit. According to Harvard University, the cost of rents has soared up 20%. And from here on, the situation might worsen as the average cost of housing has increased by 41%.
With the price soaring up and touching the sky, families are looking for a cost-effective long-term solution. This is where ADUs come in with a sustainable investment. When you add ADU to your home, you save thousands of dollars on creating a new background home.
4. Passive Income Source
Well, if any of the reasons are not interesting, then what about passive income. Yes, with the ADUs, you can earn passively. As we have already mentioned just how costly housing and rental housing have become, people are looking for more cost-effective solutions.
You can offer your ADUs for rental. This will bring you some additional income every month. You might think, what will I do with the little rental rates? Well, you can pay off your mortgages.
5. Low-Cost Housing For Adult Children
You must be wondering what these adult children are. Her adult children are the adults who are still in colleges and looking for opportunities to stand on their feet.
Having an accessory dwelling unit can help the adult children to have a separate space to gain some self-independence and save money at the same time.
How To Get Started?
The first step is to determine whether you can afford an ADU. ADU is just additional housing spaces, and in most cases, they are not necessary. Hence, even if you do not have any ADU, your life will remain the same.
However, in smoke cases, ADU adds some extra space to your housing where your grown-up children can have private time. In fact, it can also be used as rooms.