As the factors affecting the current housing market are adding to the overall cost, homeowners are looking for a way to optimize the space they have, and earn extra income from it.
The current housing market also encourages buyers to look for new housing arrangements outside of the apartment and condo living. And that is why Accessory Dwelling Units (ADUs) are becoming increasingly popular. ADUs not only offer additional income for homeowners, but also affordable housing for renters.
What is an Accessory Dwelling Unit (ADU)?
ADUs are extensions to a single-family unit that can support an entire secondary housing unit. They are often referred to as ‘granny flats’, ‘mother-in-law suites’, Laneway Housing or ADU housing.
Unlike home extensions, ADUs have their own bathroom and a private kitchen. They are available in a variety of styles and are often built as outbuildings in a separate unit of a large home lot or as an addition to the current structure. They can also be a conversion of a garage or an unused section of the house.
Benefits of Adding an Accessory Dwelling Unit on Your Property
ADU Garage Experts have listed a few benefits of adding an accessory dwelling unit on your property.
Provides a Source of Income
The biggest benefit of an ADU is the additional income. Homeowners can rent it out and the extra income can cover its’ construction costs as well as contribute to the mortgage. Many people choose to build an ADU intending to rent it out, which also helps add affordable housing available.
Encourages Aging in Place
As people age, most of them often downsize to a smaller space in order to save the energy and money it takes to maintain a full-sized house. An ADU can help senior citizens who love their homes to ‘age in place’ by moving into the smaller unit and renting out the main house.
Since there are more people in America than there are available single-family homes, it is only normal for extended families to live together. Building ADUs can provide everyone with extra space with separate accommodations. Simply by the addition of an extra kitchen and a bathroom to the property, overcrowding can be reduced in a busy home.
ADUs not only alleviate overcrowding, but they also create flexibility, as the added privacy creates an opportunity to rent out space to a non-relative if needed.
Creates Opportunities to Help the Families in Need
Perfectly capable and hardworking families face homelessness because there simply are not enough affordable houses available in America. Having said that, opting for an ADU Garage Conversion or renting out an ADU creates an opportunity for homeowners to contribute to the solution. By doing this, homeowners can keep a family out of homelessness while also making a long term investment.
Families with nowhere to stay will have access to a freshly built private apartment and to single-family neighborhoods.
The current housing market creates a favorable environment for building ADUs on your property.
There’s a lot of reasons to build and use an ADU; it is simply a matter of choosing a design and preparing for the construction cost. Build it the way you like it, with the help of an ADU garage expert to create an efficient floor plan and an exterior that complements your beautiful landscape. Once all this is done, you can rent it out to a family looking for a new home or share it with relatives.