Mortgage
Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.
According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU can be:
ADUs are growing in popularity as more people discover why they’re so practical. In fact, a recent survey shows that 24% of agents say an ADU, such as a mother-in-law house, is one of the most desired features buyers are looking for right now.
The growing appeal makes sense. With rising costs all around you, an ADU can help supplement your income and ease some of the strain on your wallet. Whether you buy a home that has one already or you add one on, it gives you the option to rent out that portion of your home to help pay your mortgage.
Here are some of the other top benefits of ADUs, according to Freddie Mac and the AARP:
It’s worth noting that since an ADU exists on a single-family lot as a secondary dwelling, it typically can’t be sold separately from the primary residence. And while that’s changing in some states, regulations vary by location. So, connect with a local real estate expert for the most up-to-date guidance.
In today’s market, buying a home with an ADU or adding one to your current house could be worth considering. Just be sure to talk with a real estate agent who can explain local codes and regulations for this type of housing and what’s available in your area.
What’s your motivation for exploring ADUs?
Stay up to date on the latest real estate trends.
Mortgage
To find out how much equity you have in your current house, let's connect.
New Listing
3 beds + den | 2 baths | 2,912 sq ft
Mortgage
Let’s talk so you know what to do differently
Mortgage
Not all markets are the same – some will take a bit longer to get back to more typical levels
Mortgage
History shows that home values almost always go up – especially if you live there for at least five years
Mortgage
They’re designed to help you overcome some of the biggest financial hurdles in the homebuying process
Mortgage
As you pay down your mortgage and as home values rise over time, you gain equity.
Mortgage
A great agent will help you figure out the level of staging that makes the most sense for your goals.
Mortgage
Those 3% rates everyone remembers from a few years ago were the exception, not the rule.
You’ve got questions and we can’t wait to answer them.