Do you have an under-utilized space outside your main home? Are you looking for a creative and convenient way to expand your living space or generate a little extra income? Does the idea of increasing the value of your property appeal to you? An ADU could be the answer.
Accessory dwelling units are secondary structures built within the perimeter of your property but separate from your house. The possibilities are almost endless, and the possible benefits make it an exciting investment for those with the space and budget to work with.
This guide explains how an ADU can increase your home value, create an extra source of income, and improve your lifestyle at home. If you are considering building an accessory dwelling unit on your property, then this information is for you!
Who Should Consider an Accessory Dwelling Unit?
Before we dive into the benefits, let’s talk about who might want to consider an ADU in the first place.
First, you need to think about whether or not your property is suitable. You need sufficient space – usually a large backyard or vacant land. If you have the space, you should then think about the permission you need. There are certain permit laws that apply, as well as restrictions, regarding the size and number of floors.
Assuming you can have an accessory dwelling unit, why should you consider one? There are many circumstances where people might want to consider this option for their properties.
- When they need to upsize their home but don’t want to relocate
- If they want to increase their property value before they sell
- In cases where people want a convenient extra living space separate from their primary home
- For families with older relatives or adult children living with them who could benefit from having their own space
- People interested in generating extra income through short or long-term rentals
The other thing to think about before deciding if this is something to consider is the cost and time commitment involved in the construction process. While there are cost-effective options available, any ADU project will require an up-front investment – and will involve ongoing construction on your property that may cause some inconvenience until the work is complete.
To sum up, people with the money to spend, a reason to want the extra space, and who are prepared for the short-term disturbance should consider an ADU.
How an ADU Can Increase Your Home Value
One of the most appealing things about having an ADU is the potential return on investment. Properties with this feature are very desirable for people who need the space but don’t want to build one themselves.
Your property value is very likely to increase significantly once you add an accessory dwelling unit – especially if you work with high-quality builders to ensure flawless construction and finishes.
When you come to selling your property, you can stand out from the competition in your area and category by advertising a whole other living space. It opens up your potential buyer pool to larger families, people who want to home share, and property investors looking for exciting rental opportunities.
How an ADU Can Provide Additional Income
Homestay rentals are increasingly popular, thanks to booking sites such as Airbnb. A purpose-built ADU designed for guests is an excellent source of supplementary income for those interested in getting involved in the rental industry.
You can build a self-contained unit that works for long-term tenants or short-term holiday rentals- whatever works best for you. Both options are available if you build a high-quality living space.
How an ADU can Add Convenience
As families grow and living situations change, a once-roomy home can quickly feel cramped. Living on top of each other is not ideal for anyone, but moving is not always a viable option.
In these situations, an ADU can offer a perfect solution. Having a second living space on your property opens up all kinds of possibilities. Here are some of the circumstances that could be made a whole lot easier with the addition of an accessory dwelling unit.
- If you have an older relative or adult child that needs their own space
- When children get older and need separate bedrooms
- For those who work from home and need a quiet workspace away from the buzz of the house
- If you want a new entertainment space to enjoy time with family and friends but don’t have space in your home
Are the Benefits of Having an Accessory Dwelling Unit Worth the Effort?
Whether or not an ADU is worth the effort- and investment- is really a personal matter. The benefits are undeniable, but you should consider what short-term expenses (financial and comfort) you will face and how they compare to what you will get in return.
If you need more space for any reason but don’t want to relocate, then investing in an ADU is probably the best solution. It will cost less than a move- and create significantly less disturbance to your life.
It is definitely worth looking into, working out the logistics, and weighing up your options. Paragon Builders provides free advice to anyone looking to learn more.
Work With the ADU Experts at Paragon Builders
Paragon Builders specializes in ADUs of all shapes, styles, and sizes. Our teams have extensive experience working with homeowner to find the optimal solutions for their properties – maintaining close communication throughout to ensure the best experience and finished product.
Final Thought
It is not just about how an ADU can increase your home value – the lifestyle benefits are also worth considering. If you have the space, budget, and right blueprint plans permission to add an accessory dwelling unit, it could be one of the best investments you ever make.
Working with our experts makes the whole process simpler, more efficient, and easier to manage. Your home improvements are in good hands with the professional, highly-trained contractors at Paragon Builders. Give Us a Call Today for an obligation-free consultation to find out more.
