From a carriage house to a granny flat, an accessory dwelling unit is known by many different names. Regardless of what you call it, however, theres no denying that having one on your property has its advantages. For those who are considering adding one, here are several benefits that you can expect to receive.
Increased Property Value
For starters, a secondary dwelling can significantly increase the value of your property, especially as todays buyers prioritize extra living space. In fact, a study conducted by the Appraisal Institute found that an accessory dwelling unit could account for as much as 34 percent of a homes appraised value. Of course, keep in mind that this means your property taxes will likely be going up.
Multi-Generational Living
Whether you want a space for your grown children or your in-laws, many homeowners are looking for properties that can accommodate multi-generational living. While a simple guest room might do the trick, chances are, a self-contained space complete with a kitchen and living area will make everyone more comfortable.
Staff Quarters
An accessory dwelling unit can also come in handy if you need separate living quarters for staff, like a live-in nanny or a caretaker for the property. Even if they feel like a member of the family, everyone can appreciate having their own private space to return to at the end of the day.
Bonus Space
It might be designed to be a dwelling, but there are plenty of other ways that you can use this space. For example, you could transform it into a home office or a wellness area complete with a yoga studio and massage room.
Income Opportunities
Of course, if its not being used by family or staff, you can always rent out the accessory dwelling unit for extra income. This will help to offset the costs of increased property taxes and will ensure that the unit is put to good use even when you dont need it.
Published with permission from RISMedia.
