ADU stands for accessory dwelling unit. It is the legal term for a secondary home or apartment that shares the lot of a larger, primary home. This dwelling can be an apartment over a garage, a tiny house on a foundation in the backyard of the primary home, or even a basement apartment. An ADU can help you generate additional income.
Why Are ADUs Important?
No matter its form, an ADU has the potential to bring in some additional income for the primary homeowner. It can’t be bought or sold separately, and it has to be part of the property where the main home is. The owner of the main home also has to be the owner of the ADU.
Many people build ADUs as a way to generate extra income through rent. It offers a much more flexible housing solution as well for people facing different environmental, lifestyle, and financial challenges.
They are also useful for combining families when there is a lack of income. It can provide housing for family members so they are close by and offer a much more affordable solution to a renting problem when income is tight.
Affordable Housing Option
ADUs generate rental income that can help a struggling homeowner pay for their mortgage and make ends meet. The homeowner already owns the land the ADU is on, so their only expense would be construction of the secondary residence.
For People Of All Ages
Since a lot of people’s housing situations change constantly, ADUs are a great option for people of all ages with different household types and income levels. They can be a good entry-level choice for a younger couple or a way for the primary homeowner to extend the space they have for family.
Good For The Environment
ADUs are also good for the environment because fewer resources are required to build and maintain them when compared to an average-sized home. They also use significantly less energy.
Finally, it is a good way to include smaller and more affordable housing options in a community where people may be struggling to pay the bills. It is also much easier to gain community support for these dwellings compared to other housing types for the community.
If you are looking for additional income to help pay the bills or you want to help someone in need of affordable housing during this time, then an ADU is definitely something to consider.