A cost-effective addition to your primary residence*, these extra dwellings are becoming more and more popular. Electrical and water connections are easy to utilize, and the additional space can increase both the desirability and the equity of your home.
If you are working in a space that is already attached to your existing home, you will save tons of money. Revamping a space can be much more budget-friendly than starting from scratch.
Even if you plan to build a guest or pool house, the land you are building on is already prepared and ready to go. The water and electrical hookups are nearby, so you won’t spend extra having professionals come and run all of those again.
You will also likely already have some landscaping and parking available. This cuts down on all the costs associated with building something on completely separate land.
What Should I Include in My ADU?
A Private Entrance
If you are planning on renting out your ADU at any point, we highly recommend placing a private entrance. No one wants someone renting their home traipsing through the main part of the house at all hours.
Having a separate entrance will save you a lot of heartache in the long run (even if it is with your college-age kid). With your tenant’s own entrance and living space, people of all ages will adore the addition designed to give them privacy and freedom.
A Kitchen
Another highly recommended addition to your ADU is a kitchen or a kitchenette. While this is a more costly addition to your ADU, it will make it that much more valuable.
If your in-laws are moving in, it will be nice for them to have their own space to cook instead of hovering over your shoulder in the kitchen. And if you plan to rent the space, you don’t want someone you aren’t as familiar with needing to come into your home to use your personal kitchen space.
A Bathroom
A private bathroom is a no-brainer, and you have likely already thought about it. Everyone likes their solitude in a bathroom. You can make things as simple or as elaborate as you like.
If the space is a rental, we would recommend sticking to the basics, since you won’t know personal preferences and tenants may change.
If you are preparing the space for a specific loved one, you may want to consider any special needs or requests they have, including handicap access or intercom access to the main house.
A Bedroom
Finally, people will need somewhere to sleep. You can make the sleeping space, the living space, and the kitchen all one area if you like. This can save you money and make things simpler when building.
If you want to charge more when renting, you can make a separate bedroom space that is more elaborate. It is truly up to you.
Extra Parking
If you don’t already have it, you will want to add in extra parking for whomever is moving in. Most people will find it inconvenient to park on the street all the time, and you certainly don’t want a vehicle constantly parked in your grass.
Whether you choose a DIY prefab kit or you hire a contractor for a custom build, your new space will be absolutely perfect.
How to Finance Your ADU
When you are ready to finance your new project for your primary residence, HFS Financial is your trusted ally for the best ADU financing. Apply today to find the loan rates and terms that make adding your new addition easier than ever. With HFS Financial, “You Dream It, We Finance It.”
*ADU loans are available for PRIMARY RESIDENCES ONLY. Excludes second homes, rental properties, land additions, or other non-primary residential or non-residential applications.
