Numerous advantages exist for adding an accessory living unit to your property. The following are our top reasons for considering hiring an ADU contractor.
1. Increase the property’s value and resale potential
One of the most popular reasons homeowners construct an ADU is to boost their property’s value. The cost of constructing the ADU may be negligible in relation to the value added to the property as a whole. For instance, in Southern California, if you install an ADU for between $250 and $300,000, the property’s resale value could improve by up to around 600,000, depending on the local market. If it takes 12-14 months to obtain permits and construct the ADU, this represents an excellent return on investment.
If you’re having difficulty selling your home and receiving reasonable offers, it may be worthwhile to install an ADU on your property. Adding a new independent dwelling structure to your property can attract a very different type of buyer. They may be willing to pay a significantly higher price if they can offset their mortgage payment with the income provided by the ADU.
2. Private Guest Rooms
When family or friends stay for a lengthy period of time in town, having individual lodgings separate from the main house provides seclusion for both parties. Having a separate kitchen, living area, and bedroom for your guests ensures that your daily routine is not disrupted.
If you live with elderly parents or grandparents, a separate ADU enables you to spend time with them while maintaining your own schedule. This is frequently a far more appealing choice than placing them in a nursing home.
Depending on the site layout, organizing the ADU and main residence around a shared outdoor living space might be an excellent way to spend evenings outdoors while yet allowing each party to withdraw to their own quarters at night.
3. Short Term & Long-Term Rental Income
Having an ADU on your property enables you to earn additional revenue from it. The agreement can be configured to create long-term recurring rental revenue or to generate short-term rental revenue to assist in covering your expenses.
If you live in a town where a lot of tourists visit, you can earn money renting out your ADU on a short-term basis. You can rent your ADU for a weekend at a premium rate using a service such as Airbnb. These rental prices are frequently sufficient to cover a significant portion of your monthly mortgage payment. Check your local regulations about these short-term rental programs, as many cities forbid this form of renting.
4. Housing for Adult Children at a Reduced Cost
In many places where the cost of living is quite expensive, having a detached ADU on your property can provide an excellent place for your adult children to stay while they are establishing themselves or attending college. It provides a separate room for your adult child to develop independence and begin saving money. This might be an excellent steppingstone for them at times of transition in their lives.
5. A Separate Work Area
If you run a home business, having a separate building from which to operate can help you be more productive and focused. Utilizing the ADU as an art studio, workshop, or office provides a separate area for client meetings and can provide a more professional atmosphere than an in-home office in the primary dwelling. Additionally, having an ADU on your property reduces commuting and lost time in traffic.
Rather than investing money into office rent each month, invest it in the construction of an ADU. When you sell your property, you may be able to recoup the cost of building.
With proper site planning, landscaping, and design, it may be possible to entirely divide your primary residence and ADU. Having separate entrances and parking might help your firm portray a more professional image.
For more information regarding ADU building and to schedule a consultation with a contractor, visit here.