All About ADUs, Granny Flats and Rental Income

Dated: November 28 2023

Views: 57

HOMEOWNERS, TRENDS, HOME VALUES, HOMEBUYERS, RENTS

All About ADUs, Granny Flats and Rental Income

Homeowners who want to add more value to their properties are turning to an evolving trend: building a second home in their own back yards. With housing costs higher than ever, some housing experts believe that additional dwelling units (ADUs) are a viable answer to the current housing shortage. The only problem is overcoming outdated building codes, but that’s improving rapidly.

ADU is an umbrella term that covers granny flats, guest houses, cabanas, carriage houses, tiny homes, and garage apartments, to name a few. ADUs can be attached to the main house, converted from garages, attics or basements, or built as stand-alone homes from the ground up or by using manufactured housing kits.

These scaled-back homes are typically much smaller in square footage than the main house, yet they feature full amenities. A popular layout might offer a living and dining room, kitchen or kitchenette, one or two bedrooms each with a full bath, laundry room, closets, storage, and a patio or porch. For privacy, ADUs always have separate entrances, making them ideal for an aging parent or retiree, college student, or young couple.

As an investment, an ADU is cost-effective, as the homeowner already owns the land and is able to recover construction or conversion costs more quickly. An ADU can add as much as 30% more value to a given property.

To learn if your property is suitable for an ADU, contact your local government’s zoning and building permit department, or visit sites such as AccessoryDwellings.org.

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Michelle Porter

I'm a lifelong resident of Greensboro, deeply immersed in the local real estate scene since 1994, consistently achieving outstanding results in the Triad area. My roots in Greensboro mean I know this ....

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