ADUs: Valuable addition to any property
Accessory dwelling units (ADUs) bring more than just another usable space to a property. They have become significant value-adding pieces to have around – either attached or detached. It is estimated that the addition of ADUs causes the valuation of a property to rise by about 30%. And, one cannot but talk about how these structures are fast becoming the in-thing among homeowners in San Jose.
ADUs can be said to be structures that help homeowners optimally utilize the space within their properties. They have become a great addition and a means of uplifting a property. It is in this line that the value of ADU is eventually unraveled. It’s hard to imagine a property featuring an ADU being tagged valueless at any point in time – such properties are typically goldmines in the hands of their owners.
What value does ADU add to a property?
The value emanating from owning an ADU can be primarily viewed from two angles – first as a revenue stream and second as an investment instrument. Whichever way, you view it, ADUs are credible means of generating income. This should make some appeal irrespective of the degree of wealth you may presently command.
ADU as a revenue stream
Considering an ADU as a direct revenue stream; the tendency of the homeowner to be able to put up his/her ADU for rent presents an appreciable income. You can easily have the unit placed on some home-renting platforms – like Airbnb, Turnkey, Vacasa, etc – place a price on it and watch the order start to reel in. Or, you may have the whole process taken care of by a property agent. You can get to rake in about US$26,000 – US$32,600 annually from renting out your ADU. The price normally varies based on the size of the ADU.
Apart from the scenario raised above; aged persons who would rather subscribe to a minimalist lifestyle can also decide to vacate their main building for the ADU. This leaves the main building open for rent, and this is bound to bring in some considerable sum of income.
ADU as an investment instrument
The investment benefit derivable from ADUs lies in the raised valuation of the property. Though it may not be possible to singularly sell off the accessory dwelling unit, you will reap some huge reward when upon putting up the entire property as an investment instrument. Plus, there may be even more income to retrieve as the value of the property could rise further with the years add up.
So, rather than leave that spare space on your plot of land that remains unoccupied, you can choose to contact a professional builder to come up with a plan on how to raise an ADU thereon.
Besides all the values discussed above, ADUs also avail individuals of the extra space that can be utilized as a workspace. This would offer some sort of flexibility to remote workers who are nursing the idea of separating work (office) affairs from domestic matters. Again, ADUs give homeowners the space in which they can accommodate relatives or guests who come visiting on vacation.