Benefits of Building an ADU
An idea of the past, accessory dwelling units were widely popular back in the 1940s. These units lost their importance and hype soon after WWII ended as a huge population moved towards forming a space for a nuclear family. ADUs or Accessory Dwelling Units have now made a comeback. These units are often referred to as "granny flats" and provide a level of privacy and independence within a house.
They are also termed as backyard cottages, mother-in-law units, or guest houses to understand their usage better. These units comprise a kitchen, bathroom, bedroom, and living space, all built on the same grounds and property as the main house. Building such a unit can help homeowners optimize their space while saving more. Read on below to take a detailed look at the benefits of building an ADU.
1. Increased Value of the Property
Increased Value of the Property
This one-time investment can positively affect the resale value of your property if you are interested in putting it on the market. This is further strengthened by the report from the Sydney Morning Herald, which states that an accessory dwelling unit can inflate the value of your home by 20%-30%.
2. Additional Income
Who doesn't like having an avenue from where one can secure additional income? An ADU can help provide you with this facility. This income can be obtained in the form of rent. What's more, you can get a return on your investment by obtaining this rent and even gradually start using the amount to pay off mortgages and other bills. It is the perfect way to earn some extra cash on a short-term basis without lifting a finger.
3. Entertaining Guests
An undeniable benefit to having a unit in your backyard is the additional space perfect for accommodating guests. With such a unit in place, both the guests and the hosts will be provided with a certain amount of privacy while keeping everyone in each other's vicinity. Moreover, having guests over can be quite chaotic if all of you live under the same roof, and this disruption can be avoided by allocating them with a space of their own.
4. Optimal Space for Caretakers
Any caretaker out there knows that this task requires an extreme amount of effort and energy. Among other needs, a basic requirement for elderly or injured people is having someone nearby to cater to their needs. An individual who has someone under their care can avoid the hassle of running around like a headless chicken instead of allocating their unit to the elderly. This way, assistance can be provided to the one in need while ensuring that the caretaker doesn't have to go through additional trouble.
5. Hobbies and More
According to the Freddie Mac study, first-time listings with ADUs grew exponentially in the last decade averaging around 8.6% per year. One primary reason why this took place was that individuals discovered the various positive aspects of an ADU. Besides catering to guests or having a place for the elderly, one can even choose to pamper themselves with this additional space.
Certain hobbies like playing music or painting require some level of privacy. The former because the noise can be unbearable and the latter so that one concentrates in peace. With an available place on the property, one can easily create a space dedicated to their hobbies. Whether you want a man cave or a recording studio, you will be covered.
Last but not least, another benefit of having your accessory dwelling unit is that building one will prove to be affordable and cheap for you in the long term. The cost of purchasing land or working on the infrastructure can be cut down with the help of such units. Moreover, finding an apartment or condominium can be costly that can be avoided by building your unit. Whether it is a kid straight out of college, a newly married couple, or your grandparents, an ADU will prove to be a haven for everyone.
With real estate costs rising every day, it is crucial to look for avenues where your investment can lead to long-term benefits. Building an accessory dwelling unit is one such investment that can lead to a secure and stable living solution for the future. Take a look at your neighborhood architecture and build a space that will add character to your house and do wonders for the neighborhood's aesthetic.