Are Awesome Designed and Unique ADUs in Your Future?
Let’s talk about older clients and ADUs (Accessory Dwelling Units) this month, or as I like to call them, “AWESOME, DESIGNED and UNIQUE!”
ADUs are an add-on home to your existing structure. A few examples that are attached to your home include: built over a garage, added in an upper story, and finished in the lower level. Or you can construct an ADU as a standalone dwelling. Your county and town have rules governing the legality of ADUs and unit building specifics we will discuss in a future newsletter.
Link Real Estate Group focuses on issues in real estate that cause problems or concerns for clients and potential clients. I work with many older adults who do not want to leave their present homes.
Three ADU Scenarios to Consider Where You Live Now
Scenario One: Older adults transitioning from active employment to less income may encounter money concerns. Incorporating an AWESOME, DESIGNED and UNIQUEADU on your property may be a potential solution.
- You enjoy an alternative source of income to help offset living expenses.
- You can help your family live in a temporary, safe home.
- Your multi-generational family can enjoy a close family unit.
Scenario Two: For family members, owning the American dream of real estate is difficult, especially with outstanding long-term debits or an inability to save for a home. Your family members can move into the ADU and make it their own AWSOME, DESIGNED and UNIQUE home until they are ready to buy a family home of their own.
- It’s a win-win solution for both you and your family members. You receive funds and potential care if needed and enjoy having a family nearby.
- Family members have a measure of home security that being a traditional tenant does not afford them. (For example, rent being raised each lease period or landlords selling their rental homes.).
Scenario Three: Your family buys the primary home. If you decide to move out of your extra-large or no-longer-suitable home, a family member can move into the main home. You can then live in the ADU. You remain in the environment you trust and enjoy, and you have time to decide your next real estate move.
In future blog posts, I will address county and local rules, design specifics, and financial benefits. I’ll also present resources to help make your AWESOME, DESIGNED and UNIQUE ADU a potential reality. Share your thoughts about ADUs in the comments, especially if you have one on your property.