You have some money saved up and you’re looking to invest, but you’re not sure of the route you want to take. Should you buy new property or add an extra unit to your own? Accessory dwelling units (ADU), also known as granny flats, are becoming an attractive option for homeowners looking to expand their property and usable living space.
A project that homeowners once looked at as unattainable, too costly, and complicated to carry out is now an investment that is considered safe, smart, and above all else, lucrative. Additionally, multigenerational housing is something that many families are looking to achieve and ADU’s can make that possible by providing a separate space for loved ones while allowing them to be under the care of family. Still, many people that choose to pursue a San Diego house addition have some reservations regarding an ADU’s feasibility, value, and cost. First and foremost, the granny flat should meet the necessary state regulatory requirements before construction.
Is it worth it to build an ADU?
Based on the initial cost, some homeowners are put off by the idea of building an ADU. The price per square foot may be high, but if you look at the big picture, you’ll realize that you’ll get a number of perks at a significantly lower cost than if you purchased a new property.
Not only will it increase the resale value of your property, but it will also bring other benefits. California is setting the trend as far as renting ADUs goes. They promise a great return of investment, as the average rent for this kind of unit is above the national average. You can use that extra income for your monthly mortgage or as funds for future investments.
An ADU’s flexibility also allows you to have fun with the use of the space. Do you want to use it as your home office or perhaps a place for the grandparents to stay at? You can make it into a game room or even a couples getaway from the main house and the rest of the family. There are many design possibilities and very few downsides.
Does an ADU increase property value?
One of the main reasons, and therefore, primary benefits to building an ADU on your property is the resale value that comes with it. Naturally, the ADU will have a significant impact on the overall look and practicality of the property and, ultimately, its value. When designing and embarking on the building project, keep in mind the rest of your property so the ADU doesn’t look out of place once completed.
There are three main kinds of ADUs, and each is ranked differently for its market value.
- Detached ADU – A unit that is separate from the main home is typically the most valuable ADU.
- Attached ADU – A unit that is attached to the main property and is the second most valuable ADU.
- Conversion – These ADUs are the least expensive to build, and conversions of your garage or basement space are the third most valuable ADU.
What is the best type of ADU for you greatly depends on the budget and property space. The good thing is that you always have viable options.
How much does building an ADU cost?
ADU construction costs vary greatly depending on the property, budget, zoning requirements, and the type of ADU you’re planning to build. Make sure to take into account additional fees such as permits, septic system, landscaping, and other expenses. The most important factor to planning your ADU construction is to work with a reputable San Diego residential home builder who will help you plan appropriately, create a timeline, and clearly outline costs associated with your project.
Where can I find experienced ADU builders for my upcoming San Diego house addition?
Here at Lars Architecture, we can advise you on all your options regarding building the best ADU for your property. We’ll walk you through every step of the way, from the initial idea, through to the ADU regulations and finally, its construction and completion.
Lars Architecture are your go-to team for ADUs in San Diego and the surrounding areas. Whether your home is situated in the luxurious neighborhood of Rancho Santa Fe or anywhere else in San Diego, we’ve got the best and most skilled specialists on it.
Give us a call today or schedule an appointment via our website!