An accessory dwelling unit (ADU) is a small home built on the same property as your primary residence. These units typically comprise one or two bedrooms with a kitchen and a bath. They have several uses like an additional space for a home office, extra space for accommodating guests or catering to an expanding family. Many people also build these units to generate rental income. A quick look at the several compelling reasons for homeowners to consider investing in an ADU:
Potential to Earn Rental Income
Depending on the location, the size, and amenities, an ADU can generate significant rental income that can help meet your financial goals and act as a valuable financial buffer in uncertain times where income from business or employment can be suddenly affected negatively. A well-planned modern ADU will typically be independent of your primary residence with its separate entrance, bedroom, bathroom, and kitchen. You can rent them out to tenants seeking compact living spaces on short-term rentals. An ADU can give young professionals and migrants a place to call home without getting into the commitment of long-term lease agreements.
Boosts Property Value
Adding an ADU to your property boosts the value of your property. The good thing is that creating an ADU need not require you to break the bank. Often, you can build an ADU by converting the garage. According to The Architects Diary, converting a garage into an ADU if it meets the requirements of local ADU building codes can mean significant savings in the construction cost. Many homeowners prefer the ADU to be attached to the main dwelling unit as it offers flexibility and lower living expenses while offering privacy, essential for teenagers, in-laws, or house guests.
Extra Accommodation Space For Out Of Town Visitors
An accessory dwelling unit is perfect for hosting family and friends from out of town when you cannot accommodate them in your primary residence due to a shortage of space. An ADU can also give them much-needed privacy and permit them to come and go as they please without disturbing your family. They will also feel more comfortable with the concept of an independent housing unit that does not invade the privacy of their hosts. You can consult some of the top Portland ADU builders at My ADU to find out more about the potential for an ADU on your property.
Affordable Housing for Senior Family Members
ADUs are often called mother-in-law suites since these units are ideal for giving senior citizens an independent space, with the reassurance of being close to their family members in case of need. Housing senior family members like parents, grandparents, or in-laws in an ADU allows you to keep them close and involve yourself in their lives while giving them the freedom and privacy that comes from independent living.
Conclusion
In addition to the benefits of an ADU already discussed, these small units are perfect for setting up a home office where you can work in peace and comfort without getting disturbed by family members, small children, and pets. In an age when remote working is becoming the norm, an ADU can be an invaluable asset.