October 20, 2021
Backyard homes- What’s All the Hype About?
ACCESSORY DWELLING UNITS , BACKYARD HOMES
You’ve likely seen reports about the frequency of people purchasing backyard homes skyrocketing in recent years. Stories of their construction can be seen far and wide on both television and the web. But what’s all the hype about, and are all backyard homes created equal? These questions are answered and more in the words below.
Accessory Dwelling Units Can Increase Home Value
Adding a 250-300k accessory dwelling unit could raise the resale value of your property by up to 600k, depending on your local market. This is a general number and depends on where you live and the housing market. There are tools that can more accurately estimate how much resale value an ADU could add to your home. If you have put your home on the market but aren’t receiving many offers, adding a backyard home to your property could entice other buyers. Though an ADU will raise the price tag for the buyer, they will likely be more willing to spend more because they will know the ADU can be used to generate income by renting the space out.
Rental Income Can Offer Instant Return on Investment
Accessory dwelling units can be used as both long-term and short-term rental spaces. If you live in a vacation destination, like Los Angeles, you can rent out your ADU for a weekend or longer at premium rates using Airbnb. Before considering this option, though, it’s wise to check if your city allows short-term rental programs. If you’re more comfortable having a familiar face in your backyard, long-term rentals are also a great option. No matter how you choose to rent out your space, leasing out your accessory dwelling unit is a great way to get a return on your investment.
Low-Cost Housing for Adult Children or Aging Relatives
Keeping loved ones close while also giving them their own personal space is another perk of backyard homes. Especially as the cost of living on the West Coast rises, these backyard dwellings can provide a comfortable space for families to feel safe and secure. For adult children, staying in an ADU in your backyard could teach them independence while also allowing them to save money. For older relatives, this can be a great option as well. ADUs can give them their own space and freedom while still being within arms reach to help with kids and enjoy your company.
Perfect for a Work from Home Space
The remote work era has created a need for working professionals to have a comfortable, productive space at home. Unfortunately, for those with young children also home from school because of the pandemic, finding a calm space to be productive is easier said than done. A backyard home can provide you with your own personal workspace steps away from your formal residence.
Are All Backyard Homes Created Equal?
While most ADUs can bring convenience and extra space, not all have a timeless aesthetic built with quality natural materials. Abodu offers functional ADUs designed in collaboration with world-renowned architects. For more info on how Abodu brings backyard living to the next level, visit one of our showrooms in Redwood City, CA, Tustin, CA, or Seattle, WA.