What is an ADU?
ADU stands for Accessory Dwelling Unit. It is a small dwelling built on the same property as a single-family home. It can come in many different forms. For example, it could be a basement apartment, an apartment over the garage or a small, detached house in the backyard. Other terms used are “Casita” or “Mother-in-Law Suite”.
How are they used?
Oftentimes, families see ADUs as a solution to a crowded or less than ideal living situation. In some cases, they are built for elderly parents who need to be taken care of, but who also need privacy. There’s also the increasingly common occurrence of the “boomerang kid”. These are young adults who have moved out, gone to college but moved back home for a variety of reasons. They are unable to afford the high cost of living, they are starting out in a new career and need to get their bearings, or paying back student debt, just to name a few. But aside from family related predicaments, these properties can also be rented out as a potential stream of income.
Associated Costs?
While it is certainly an investment to build an additional, private dwelling onto your property, it is an investment that can reap a multitude of benefits both financially and personally. So, while you will need to hire a contractor, get permits, the whole shebang, you likely be able to recoup your investment in the future through both an increase in property value and rent. Because yes, family members can pay rent. It may be more reasonable than the current cost of living, which is a huge help to them, but that doesn’t mean they get off scot-free unless that’s the arrangement agreed upon.
What are the benefits?
The benefits to building an ADU are as follows:
- Increase in property value: According to Morgan Taylor Homes, “Assuming you have
used high-quality craftsmanship, materials, and design, ADUs add between 30-50% of
the value of the current home per square foot.” - Long term investment
- Keeps family connected and together
- Family support for those who need it
- Multigenerational living
- Privacy
If you’re considering an ADU as a solution for your family or as a potential stream of revenue, Ability Remodeling is here for you. Please call Ability Remodeling! TO LEARN MORE ABOUT ABILITY REMODELING VISIT ABILITYPRESCOTT.COM