How to Use Accessory
Dwelling Units (ADUs)
Most people have heard the terms “granny flat” and “in-law apartment.” They are examples of Accessory Dwelling Units (ADUs). These small units are either attached to your home are a freestanding unit on your property. They are great options for people who wish to have a family member, such as an elderly parent, live close by.
Financial Benefits of
Accessory Dwelling Units (ADUs)
ADUs are also more affordable options for family members who are not yet in the position to own their own home. ADUs have a kitchen, bedroom, bathroom and living area which makes them ideal as rentals. Because they share utilities with the main home, though, some simply use them as office space, a personal gym or a guest house.
Although the cost of an ADU can range anywhere from a few thousand dollars to much more, they can add to your home’s overall value, sometimes as much as 35%. This is another way that real estate can increase your personal wealth. Different municipalities have their own specific regulations regarding ADUs. If you are interested in learning more, please let us know and we will help you get started in that process.
We’ve also added more information to last month’s posting about as Projections About the Real Estate Market for 2023. It outlines some real estate trends for 2023 and provides ideas on new ways to use existing properties and tips on investing now to receive gains later. We are here to answer any other questions you may have about real estate and help you through every step of your transactions. Please feel free to reach out to me any time!
This is an blog posting that is part of our Client Appreciation Program and is found in the Real Estate Market category.
