As we all know, ADUs are apartment extensions in a building (mostly residential) where friends, guests, and family members can be hosted for a duration of time. In other cases, homeowners could lease out their ADU if they do not expect or have any close family members or friends to house there.
When constructing a building in certain areas, many factors are always considered, for example, the height of the building, the width of the building, the preferred design, and an ADU attachment. Many residential buildings usually have ADUs due to some reasons best known to them and some economic and financial advantages. If you are thinking about adding an ADU to your property, it is a smart decision to make, and you should go ahead with the construction but be sure to contract the services of competent agencies such as Acton Construction.
ADU attachments in a building could be an honest and reliable source of income for many. Based on research, ADUs in homes have supported their owners with utility bills and miscellaneous spending. Moving forward in this article, we will be taking an in-depth look at the economic and financial advantages that ADUs can provide.
Serves As An Investment Scheme
Many homeowners utilize the opportunities ADUs provide; in this instance, it serves as an investment plan that could yield profits in the shortest time possible. While some may be living in their homes and renting their ADUs to people, others just build the ADUs on the property and leave it to appreciate over time and ultimately sell the property for a huge amount of money. The average cost of a property with an ADU is around $500,000, depending on its size.
Overall Property Appreciation
When an ADU is mounted on a property, the overall value of the property is increased compared to a regular property without one. This is to say that an ADU with a building increases the economic value of the property, therefore creating an economic edge over every other property in the area.
Low And Affordable Rent
Renting an ADU is relatively cheaper compared to renting a normal building. ADUs are cost effective and help relieve the burden of the high cost of accommodation, therefore, adding value to the economy.
Low Building/Construction Cost
If you think about the amount of money you will spend on building an ADU, it is lower than the main building cost. This encourages the homeowners to start up the project, given the minimal amount to spend.
Space For Family Members And Friends
When receiving a family member or a guest, an ADU is an ideal space for them as it helps to cut the cost of booking a hotel, therefore saving extra cash. It saves extra cash and provides them with the privacy they need.