The idea of purchasing an ADU can be daunting to many homeowners. Often, they think it will be easier and cheaper to convert their garage into a new space. However, their calculations usually don’t include the cost of labor, which can be up to $90,000, and remodeling and the time spent dealing with permits and contractors. Once homeowners are aware of these numbers, they’re generally more open to the idea of building an ADU on their property.
Studies conducted by the University of Oregon show that by investing in their property, homeowners stand a potential increase of nearly 30% in home value, versus the nearly 18% with a traditional remodel. In addition, your passive income can grow and serve as a source of revenue to pay off the ADU over the course of 7 to 12 years.
You don’t need to wait until you’re settled into a traditional home to think about adding an ADU onto your property. You can include the ADU in the purchase of your traditional home. While it will increase the mortgage, when you calculate passive income, it can pay up to half the cost of the mortgage.
An ADU also offers convenience with its shorter on-site construction period, which is approximately less than a month. Because most of the construction is done off-site, your permits can be finalized during the same period.
Do you need any more reasons to build an ADU in your backyard?
Watch Daniel, a satisfied homeowner of a Mighty Duo B, share why he chose Mighty Buildings for his ADU needs.
Mighty Buildings offers turnkey service, where we take care of the permits and contractors. Each of our units are customizable and as unique as our clients. Get your Mighty home today!