Maybe you’re in the market for a home and are having a hard time finding the right one that fits your budget. Or perhaps you’re already a homeowner in need of extra income or a place for loved ones. Whether as a potential homebuyer or a homeowner with changing needs, accessory dwelling units, or ADUs for short, may be able to help you reach your goals.
What Is an ADU?
As AARP says:
• “An ADU is a small residence that shares a single-family lot with a larger, primary dwelling.”
• “An ADU is an independent, self-contained living space with a kitchen or kitchenette, bathroom and sleeping area.”
• “An ADU can be located within, attached to, or detached from the main residence.”
The Benefits of ADUs
• Living Close by, But Still Separate: According to Freddie Mac: “Having an accessory dwelling unit on an existing property has become a popular way for homeowners to offer independent living space to family members.”
• Aging in Place: Similarly, ADUs allow older people to be close to loved ones who can help them if they need it as they age. It gives them the best of both worlds – independence and support from loved ones.
• Affordable To Build: Since ADUs are often on the smaller side, they’re typically less expensive to build than larger, standalone homes.
• Generating Additional Income: If you own a home with an ADU or if you build an ADU on your land, it can help generate rental income you could use toward your own mortgage payments.
ADUs have some great advantages for buyers and homeowners alike. If you’re interested, reach out to a real estate professional who can help you understand local codes and regulations for this type of housing and what’s available in your market.
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