When it comes to real estate, there are many thoughts that cross the mind. Moreover, with its increasing demand, in individual needs to spend a good amount of time analyzing the market and budget. Be it residential or commercial, this challenging market brings forth a number of opportunities as well as downfalls. Therefore, it is wise to do your research first and bid on the ideal property that you have been eyeing for.
What else? You can also take the step to invest in an ADU if you have an additional space in your backyard or similar areas.
What is ADU?
ADU stands for Accessory Dwelling Unit. It is a living space built in the available area of a property and is fully equipped. It comes with a kitchen, living area, bathroom, and storage space too for the individual or couple living inside. Building an Accessory Dwelling Unit has been a considered practical approach to remodel the existing property. It gives birth to a new space that functions like every other property and is well equipped. The only major difference that one can see here is the size of the property. And the reason behind this is simply because it is constructed in the ‘additional’ space of a residential building. Also known as ‘granny units’, they play a vital role in many households to serve as an assisted living space.
One must also understand that ADUs cannot be created in an old RV or by renovating the backyard shed. It should have its own foundation like every other property to have its own electrical wiring, plumbing, utility tools, and more. You can read more about the advantages of building the units by clicking here https://actonadu.com/blog/home-away-from-home-the-benefits-of-adus-as-family-housing-for-loved-ones. Furthermore, you can categorize the dwelling units into two major types:
Detached: As the name suggests, detached ADUs are independent and detached properties from the primary residence. They can be built in the backyard, garden (if there’s additional space), or the front side of a property.
Attached: Unlike the detached ADUs, attached accessory dwelling units are connected with the main building by one wall only. It comes with its own separate entrance and there is no internal connection such as a door or stairs of any sort provided.
Reasons to Invest in ADU
When we talk about the reasons to invest in an accessory dwelling unit, trust us, it can be ample! The most popular use of this form of units is housing for elderly family members, followed by renting it out for an extra monthly income. Apart from these, the other benefits of investing in ADU include:
1. A space for adult children who can enjoy their own privacy while maintaining the same of their parents and other adults.
2. Providing the necessary care and treatment to the elderly members of the family while keeping them close to you instead of a nursing home.
3. A terrific increase in the value of the overall property. ADUs act as versatile properties and they can be used for various purposes that vary from person to person.
Once you have decided to invest in an ADU, the next important step to take is hiring the ideal builders for the same. This plays an important role because the entire idea of owning an ADU will depend on the work provided by your expert. Moreover, as the units are built to satisfy each owner’s needs, the experts should be able to offer personalized accessory dwelling units accordingly. Here are a few points to consider before approaching a service provider:
1. The foremost point to consider is the design. While the experts you hire will be able to share the same, you doing your own research can also prove useful.
2. Ensure that you know the type of rooms and amenities you require in the dwelling unit beforehand. This can help the experts to prioritize the tasks and complete the project sooner, meeting the necessary results.
3. Make sure that you collect the legal documents required for building an additional unit in your property. This will keep your bay from unwanted procedures and legal proceedings in the future.
4. Check their previous projects. This will give you good knowledge and idea and about their work and whether or not they suit your needs.
5. Ensure that you do your research well both online and offline. While you can look on the internet for options, you can also ask your friends or family members who have an ADU.
These are only a few reasons to help you understand the advantages of an accessory dwelling unit or ADU. It is an exceptional way to earn and save money, while also increasing the value of the property effortlessly.