Thinking about building an accessory dwelling unit (ADU) on your property? An ADU is a small, functional residential unit located on the same lot as a single-family home. It can be anything from a granny flat to a separate apartment as long as it can function on its own, equipped with a kitchen, bathroom and living area.
Some areas are very supportive of ADUs, including here in Los Angeles. So if you’re looking for a way to upgrade your home and get more space without having to relocate, an accessory dwelling unit is worth considering. Below are the benefits of adding an ADU to your property.
Generate Passive Income
If you don’t plan on using your ADU year-round, you can rent it out. The easiest way to do this is by using the house as an Airbnb. This way, you can open up your home to vacationers or short-term renters. Many people travel to California so this shouldn’t be hard to do. The income you generate from renting out your space can help you pay your mortgage, your bills or even save for retirement.
Provide a Separate Space for Family
It’s nice to have a place for family members to live without them disrupting your daily routine. An ADU gives you your privacy and your guests theirs, too. For example, maybe you want to provide your child with temporary housing while they attend college or save up for a mortgage. Or perhaps you have family who visit often and need a guest house.
You can also use an ADU as a mother-in-law suite, giving your parents their independence while keeping them within close range. This is beneficial because family members can help out with childcare and household chores during the day while you’re at work.
Increase the Value of Your Home
On average, ADUs contribute to about 25 to 34 percent of the property’s value. If you plan on selling your home in the future, you can enjoy a nice return when it’s time to sell. However, building an ADU is an investment that you’ll need to plan for. On average, ADUs cost $200 per square foot. If you finance the ADU, you can usually pay it off in seven to 10 years by renting it out.
Increase Space Without a Full Addition
Home additions are usually less expensive than moving. But they are a giant mess and disruption to your everyday routine. Depending on what you’re having done, you might even need to live somewhere else for the time being.
Thankfully, an ADU provides you with the extra space you need without having to relocate or disrupt your home life. You can have a space built for a home office, a man cave or a craft room. Imagine how this can improve your quality of life! As an example, a home office saves on the cost of commuting back and forth to the office while providing a quiet place to work.
If you are considering adding an accessory dwelling unit to your Los Angeles home, contact Kavin Construction today. We have experience building these structures and are familiar with the rules and regulations regarding them.
