Are you struggling to find the perfect home within your budget? Or perhaps you already own a home but could benefit from additional income or a dedicated space for aging family members. If so, accessory dwelling units (ADUs) could be the innovative housing solution you’ve been searching for.

What Is an ADU?

According to Fannie Mae, an ADU is a self-contained living space located on the same property as a single-family home. It must include separate areas for living, sleeping, cooking, and bathing, independent of the main house. ADUs can take various forms, including:

• A basement apartment within the main home

• A unit attached to the main home, such as a living space above a garage

• A completely detached structure, including a manufactured home

  
  

The Growing Appeal of ADUs

ADUs are gaining popularity as more homeowners recognize their benefits. In fact, a recent survey found that 24% of agents report that ADUs, such as in-law suites, are among the most sought-after features by buyers today.

With rising housing costs, an ADU offers a valuable opportunity to generate rental income and help offset mortgage expenses. Whether you purchase a home with an existing ADU or build one yourself, this additional living space provides flexibility and financial advantages.

Key Benefits of ADUs

According to Freddie Mac and the AARP, ADUs offer several major benefits, including:

• Close-Knit Living with Privacy: ADUs allow family members to live nearby while maintaining their independence. Whether housing aging parents or grown children, this setup fosters connection without compromising privacy.

• - Aging in Place: For older adults, ADUs provide a balance of independence and support, making it easier for loved ones to assist when needed. If your parents are aging and you want them close, an ADU can be an ideal solution.

• - Built-In Childcare: If family members reside in an ADU, they may be able to help with childcare, reducing costs while allowing children to spend more time with grandparents.

  
  

It’s important to note that because ADUs exist as secondary dwellings on a single-family lot, they typically cannot be sold separately from the main residence. However, regulations are evolving in some areas, so it’s essential to consult a real estate expert for the most up-to-date information.

Bottom Line

In today’s housing market, adding an ADU or purchasing a home that includes one could be a smart investment. Whether for rental income, family support, or added convenience, ADUs offer numerous advantages. To navigate local zoning laws and explore your options, reach out to Mike Panza and the team at Panza Home Group for expert guidance.