In today’s tight housing market, the number of people looking for a home to buy has been steadily increasing. In many cases, these people are finding themselves priced out of their desired neighborhoods because the homes in those areas have become too expensive. This is where accessory dwelling units come into play! These second dwellings can be built on your property and serve as an affordable option for renters or buyers who want to live in a specific area but cannot afford a traditional house. They also provide homeowners with an opportunity to potentially generate income from renting out this space while maintaining their primary residence. If you’re thinking about building an ADU, keep reading this blog post for more information!
1. ADUs are a great way to increase your home’s value.
The typical home builder will tell you that adding square footage and the right amenities to the exterior and interior of your home will increase its value. With an ADU, you can also do this but without the financial and time investment that would normally go into building a new house. You could use your ADU as a guest suite, training space, office space, art studio, or even a small business if your property is zoned accordingly. ADUs are more affordable than buying a home.
A large percentage of Americans still own their homes outright today. This makes sense because it’s not easy to find something nice for less than $250k these days (even with interest rates at historic lows). However, there are now more options for those who want to transition into homeownership without being tied down with a hefty mortgage payment.
Your ADU can be your first step toward purchasing a home, especially if you do it in conjunction with building up some equity through renting out the main house or another separate unit on your property. With this approach, you could even purchase a home for less than you could rent it. Or, if your main house has a mortgage or is already paid off, an ADU can be another source of income (and tax deduction).
2. They’re also an excellent source of income for homeowners:
ADUs can also be a source of income for homeowners. Homeowners can rent out the extra space to make a bit of cash on the side. Builders and architects have been using this to their advantage when building or designing homes because it makes the property more desirable for potential buyers who might need a little extra living space.
Another reason why builders love creating ADUs is that they’re able to maximize square footage by taking full advantage of land that would otherwise be unused or underutilized, which means you’ll end up paying less in taxes if your home qualifies as an accessory dwelling unit versus standard housing. The same goes with renters—they’ll likely pay lower monthly rent since there’s only one apartment instead of two separate units plus
3. With the average American commuting 25 minutes, you’ll save time and money on gas by living closer to work or school:
Many people are surprised to discover that an ADU is just as much a home as a larger residence.
An accessory dwelling unit (ADU) is technical term builders and architects use to describe a secondary living space located adjacent to a primary residence. In some cases, an ADU might be attached to a home, such as a garage, basement apartment, or yoga studio. In other cases, an ADU might take the form of a small apartment or suite situated on the same lot but detached from the main, larger dwelling. With many Americans looking for ways to save money by downsizing their housing costs without sacrificing square footage in their homes being smaller can have its benefits when it comes time for you to downsize too! From lower utility bills
4. You can live in one unit and rent out the other – this will free up space at home while earning extra income:
When you rent out your extra unit, it can help you offset the cost of ownership by providing additional income that offsets mortgage payments or property taxes. You can offer rooms in the unit at low rents to young people who want to live near a city center but can’t afford the high cost of rent. Builders will often include an ADU as one component of a luxury property because it makes good financial sense for both parties involved, and allows you to focus on your family without worrying about managing another household or rental unit.
Include: -The main benefit is that you have additional space at home so even if your family continues to grow, you don’t need to move into a larger house just yet-You could potentially earn extra money from renting out this extra living area too! This would help offset costs significantly over time-People typically think of adding an accessory dwelling unit as something they might do when their kids leave home and
5. Discounted Prices and Lower Interest rates
Builders know that there is a demand for these properties so they often offer incentives such as discounted prices and interest rates. There are discounts available for people who want to build an accessory dwelling unit. The builders know that there is a demand for these properties so they often offer incentives such as discounted prices and interest rates.
6. Building an ADU allows you to create more room
An accessory dwelling unit (ADU) is a secondary living space that can increase the residential capacity of a property without having to buy another house. One of the benefits an ADU offers is extra space for guests or family members.
The perfect example of this is when there are six people living in a three-bedroom house. Having an ADU increases the number of bedrooms to four and provides an additional bathroom as well as the kitchen. This is often more practical than building another, separate home because it saves money, time, and resources like land and materials.
Another advantage of building an ADU is that it will not lower the value of your property; this means you don’t have to worry about reselling your
In many cases, an ADU will include a complete kitchen and bathroom. It might also have its own heating and cooling systems, as well as a living area with a bedroom, a full bath, a laundry room, and a kitchenette. In some cases, the ADU might share the same connection to sewage or rainwater systems as the main home. An ADU can be a very good opportunity for someone who doesn’t want to buy another house but wants more space without having to give up their current location.
An ADU will typically cost less than an additional mortgage. If you use the rental income to cover your mortgage, then in some cases it may be possible to build out a second unit for free! So what are you waiting for? Contact us today and let’s get started on building that dream home with added revenue stream potential!