Reasons To Install An ADU On Your Property

They Attract Millennials

Bigger cities across the country tend to attract young professionals who seek employment, but only a small portion of them can actually afford to live in these cities. This is where ADUs become incredibly useful. The sharing economy is big with millennials today, such as with ridesharing, so it’s not surprising that millennials would consider something similar for their living situations. On the other side of things, millennials who do choose to buy homes in these more expensive markets are typically looking for a more permanent living situation. While many homeowners inevitably sell for a myriad of reasons, having an ADU to generate extra income could be what convinces them to stay.

Ease Of Installation And Finance

Depending on your location, the housing shortage can make your living situation a disaster. Rent continues to rise in many areas, with land, building and developing costs doing the same. If every property that has the space for an ADU chose to install one, there would be far more affordable housing for the people willing to use them. On top of that, ADU’s are becoming more affordable while the price of other options continues to rise. Those who choose to build and rent out an ADU on their property often find they pay for themselves in a small amount of time by the passive income it generates, as well as by cutting the costs of a college dorm or assisted living. To top it all off, if you ever choose to sell the property one day, the value will likely increase due to the ADU.

They Act As A Safety Net For Your Property

While not protection in the typical sense, ADU’s can add a buffer to your income if something ever happened to your financial wellbeing. For example, if you were to lose your job for some reason, having an ADU can provide you with some extra income while you get your feet back on the ground, as opposed to using a more drastic measure such as selling your home.