If you haven’t heard of an accessory dwelling unit, they’re on the rise for homeowners looking to expand with separate living quarters and they’re amazing!
Adding an accessory dwelling unit (ADU) to your house might be one of the smartest and most versatile investments you can make.
While it can be a costly project–and one that requires more planning than most–the personal, social, and financial returns could be well worth it.
If you’re wondering what might be some of the benefits of an ADU, read on. We’ll also be discussing some of the cautions and drawbacks to take into account when considering adding an ADU to your house or property.
A Place for Your Adult Kids to Live after College
Unless you have remarkably enterprising kids (or their major is in high demand these days), they probably will want to “move home” for a while. With an ADU, you can give (or rent) them a place to live.
When the kids finally move out, you will have a nice place for friends and relatives to stay when they visit … until you come with an even better use for the place, that is.
Accommodating an Elderly Family Member
And that “even better use” might well be an elderly parent or in-law. They might be at that age around the time your kids move out. This way, you can give your senior relatives any help they might need if they’re not ready for a retirement community.
Hosting a Long-Term Guest
These days, a lot of people suddenly find themselves out of work due to lay-offs, non-renewed contracts, business failures, etc. If one of these people happens to be someone you know, why not offer a place to stay while getting back on their feet?
Your guest might be able to pay a small amount of rent, but regardless, he or she will be very appreciative of your generosity.
Making Extra Money with an Airbnb
Of course, if you want or need more cash (perhaps to pay off the second mortgage you used to build the ADU in the first place), why not rent the place out to people you haven’t met?
If you’ve been reluctant to start an Airbnb for fear of the lack of privacy or having strangers in your own living space, this might be the perfect solution.
Other Possible Uses for an Additional Dwelling Unit
- A private place for an older stepchild to stay when visiting
- A studio or workshop for artists or hobbyists
- A place for you to move to if you decide to scale down your living style
Accessory Dwelling Units and Resale Value
Citing the many uses for an ADU, Realty Times confirms that an additional dwelling space adds resale value to a home, especially when it is separated from the main dwelling.
Where and How to Start with an Accessory Dwelling
We said we’d mention some of the cautions and drawbacks to adding an ADU. So we’ll be honest here: there are many, starting with the cost. Many ADUs could cost as much to build as any new dwelling. You will need some serious financing.
Then there are considerations of ordinances and zoning in the city and neighborhood where you live. Many places are openly welcoming of ADUs, while others will put up difficult obstacles.
You might consider a comprehensive ADU business such as Acton ADU that helps you navigate and take care of many of the services of adding an ADU, including its construction.
Ready to Put Out the Welcome Mat?
As you can see, there are many possible advantages of adding an accessory dwelling unit to your house or property. Among other things, it could eventually help you pay off the costs of building it–and begin to generate extra income.
But this is not a project to embark on casually. It could easily prove to be the biggest home project you ever undertake. And there could be a lot of misfires along the way.
But wouldn’t it be great to have an accessory dwelling unit–especially now that there are some many ways to use it? If having one added to your home appeals to you, go ahead and start investigating what this would realistically entail!