Why are more people choosing to add an ADU to their property? What is the appeal of having a second home on your property? Here are seven reasons why people may decide on getting an ADU.
Increased Home Value
An accessory dwelling unit, or ADU, is a small secondary dwelling unit attached to the existing dwelling or located on the same property as a single-family home. ADUs are often used as rental units, in-law suites, or guesthouses. They can be an excellent way to generate additional income, house extended family members, or accommodate out-of-town guests.
Professional Pedram Zohrevand says building an ADU can also add significant value to your home. Because they are typically smaller than the primary dwelling unit, they are more affordable to construct and require less maintenance. Having a rental unit in addition to the main house on a property makes it more appealing to many potential buyers, including young professionals and empty-nesters. Having an ADU can reduce their monthly mortgages on their house through the rental income from the ADU. Studies have shown that homes with ADUs sell significantly more than comparable homes without them. If you are considering building an ADU, consult a qualified real estate professional to learn how it can increase your home’s value.
More Living Space
In addition to generating income, many people build ADUs to create additional living space for themselves or their families. ADUs can be an excellent solution for empty-nesters who want to downsize but still have room for out-of-town guests or families who need extra space but don’t want to move to a larger home. They can also be a good option for homeowners who work from home and need a dedicated office space. If you are considering an ADU as a way to create more living areas, be sure to consult with a qualified architect or designer to ensure that the unit meets your specific needs.
Privacy and Independence
Another common reason why people build ADUs is for privacy and independence. An ADU can provide the perfect solution if you are looking for a place to get away from the hustle and bustle of daily life. They can also be an excellent option for homeowners who want to age in place but still have their own space. If you consider an ADU for privacy and independence, consult with a qualified contractor to ensure that the unit meets your specific needs.
Additional Income Stream
In addition to increased living space and privacy, many people build ADUs to generate additional income. By renting out your ADU, you can offset ownership costs and potentially even make a profit. Additionally, they are typically smaller than the primary dwelling unit. They are more affordable to construct and require less maintenance. If you are considering an ADU as a way to generate additional income, be sure to consult with a qualified real estate professional to learn more about the rental market in your area.
Opportunity to Customize
Adding an accessory dwelling unit (ADU) to your property can allow you to customize the space to meet your specific needs. For example, you might want to add a kitchenette to have a place to prepare meals separate from your central kitchen. Or you might want to include a Murphy bed or pull-out couch to create a flexible sleeping area for guests.
Pedram Zohrevand says if you work from home, you might want to add built-in desk space or extra storage for office supplies. Working with a professional contractor, you can create an ADU tailored to your unique needs and lifestyle. As a result, you will be able to enjoy all the benefits of having extra living space without sacrificing any of the features that are important to you.
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Tax Benefits of Getting an ADU
Another benefit of owning an ADU is that you may be eligible for certain tax breaks. For example, if you rent out your ADU, you may be able to deduct the costs of mortgage interest, property taxes, and repairs and maintenance from your rental income. Additionally, if you sell your home, you may be able to exclude a portion of the gain from your taxable income. Be sure to consult with a qualified tax professional to learn more about the tax benefits of owning an ADU.
Increased Energy Efficiency
Finally, adding an ADU to your property can increase your home’s energy efficiency. Because they are typically smaller than the primary dwelling unit, they require less energy to heat and cool. Additionally, you can incorporate green features into your ADU, such as solar panels, energy-efficient appliances, and low-flow plumbing fixtures. As a result, you can save money on your utility bills and do your part to help the environment.
Final Thoughts
There are many reasons why people may decide to get an ADU. An ADU can be a great addition to your home if you are looking for increased living space, additional income, or tax benefits. Be sure to consult with a qualified professional to ensure that the unit meets your specific needs.
