Accessory Dwelling Units or ADUs are detached apartments that are constructed on the same premises you are residing. It is usually a single-family property. In Accessory Dwelling Units, you can put small homes to increase the value of your property. Before 2020, ADUs were allowed in single-family properties but now they are allowed in multi-family properties. ADU statistics tell a different story! You can create Accessory Dwelling Units on your property for various purposes. Create a separate office, studio, art gallery, reading room, small library, guest house, gaming hub and so on. It sounds cool, right? So in this blog, we will discuss the top four reasons for owning an ADU as a Smart Addition to a Multi-Family Property. Let’s begin.
1. Value of property will increase
Forming Accessory Dwelling Units or ADUs will increase the potential value of a property. The resale value depends upon the structures, rooms and conditions of the property. Homeowners are building an ADU to invest in the same property without buying any separate property. Suppose you want to buy a property for development. You have to pay property tax and extra money. Also, you have to be aware of any litigation or dispute going on with the property. This consumes a lot of time and money. But what if you add separate rooms or structures to your property? As there are no risks at all! Are you trying to sell off your house but not getting good bids? It will be great if you form Accessory Dwelling Units On your property. Adding a separate room can increase the resale rate. The buyers can have income from those Accessory Dwelling Units!
2. Earn from Accessory Dwelling Units
Forming Accessory Dwelling Units are good ways to earn passive income. You can set up a rental for them for a long or short period. This will cover your loans and other payments. If you stay in a vacation spot then these detached houses are great! You can avail l services from Airbnb or rent out your rooms for weekends. Though please check if there are any limitations in your area. This will create a good source of income.
3. Accessory Dwelling Units are the best place for setting up offices
It is the most convenient place to set up a home office. In recent times due to Covid-19, companies are focusing on working from home. It will be an ideal place to have your detached office! No traffic jams, or irrelevant disturbance. It’s a bonus! Suppose you want to set up offices for your start-up, but you don’t have the budget for it. You can form Accessory Dwelling Units upon your property to cut off that cost. You don’t have to pay rent or buy any other accommodation. Recently there was a California-wide survey where ADU statistics grabbed our eyes. 43% of people were able to get loans for building Accessory Dwelling Units on their property. 53% can pay for their Accessory Dwelling Units. 92% of people are getting money out of these detached units.
4. Create guest houses or personal spaces for your loved ones
If you don’t have separate rooms for usage then Accessory Dwelling Units are the best options. If your parents are visiting then you can provide their own space. Do you have ailing parents to take care of? But don’t they have rooms for them? Build these small units. Your irrelevant house hospital charges can be cut off. You are becoming new parents? You don’t have rooms for your babies? Build Accessory Dwelling Units for them. Your children don’t have their separate study rooms? They are facing problems? You can set up study rooms for them by adding these small units to your property. There are a lot of pros to adding these small units.
Don’t know how to set up Accessory Dwelling Units? Don’t worry there are plenty of professionals building these small units. The ADU statistics are telling that in the last decade ADUs have seen a huge curve of rising! Also, People are building ADUs for fancy purposes! Hope this blog can enlighten you regarding ADUs.