With housing costs and population density continuing to challenge the market, homeowners are seeking out-of-the-box ways to get the most from their property. When it comes to accessory dwelling units (ADU), there’s a lot for homeowners to learn. So, if you find yourself asking, “Why should I consider an ADU for my property?” Our response is, “why not?”
We recently spoke with Colin Jube, co-founder and CEO of Modal, a full-service modular construction company, specializing in ADUs, offering a turn-key and reliable way to transform backyards by increasing square footage and overall property value. Jube shared some insight about the measurable benefits of adding an ADU to your existing home. Modal ensures everything from permits and site surveying to offsite construction and one-day installs are executed seamlessly – a welcomed change compared to the traditional general contractor-led projects that are notorious for curveball after curveball.
Exploring styles, sizes, prices, and everything in between can be overwhelming, especially when considering which ADU will work best for your lifestyle and your goals. So, whether you are looking to create extra space, want to keep loved ones close or make some additional income, it’s important to start with the basics. Here are a few things you should know about investing in an ADU, according to Modal:
What is an Accessory Dwelling Unit?
An ADU is a secondary housing unit on a property with a single primary residence. While it may sound like a technical industry term, ADUs are straightforward spaces with a variety of uses. Although most ADU owners utilize the secondary structure as an additional living space for themselves, relatives, or friends, it can also be used as an investment or rental property that adds value to your home. A variety of structures can be classified as ADUs, but Modal specializes in modular ADUs. These units are manufactured and assembled off-site in a factory, then placed—usually by crane—onto your property. The efficient and environmentally responsible construction process generates less waste than traditional on-site construction, and it requires less vehicular traffic to and from the build site. The benefit? A one-day, sustainable install vs. months of mess and disruption to your property. Modular buildings are built to meet or exceed the same building codes as standard site-built homes.
- ADUs are investments with a solid ROI
One of the most beneficial features of owning an ADU is the income it can generate for you if you choose to rent it out. In fact, Modal customers have seen an increase in property value of more than $400K, and in some cases, homeowners reported generating upwards of $25K per year on rental units. While most real estate investments require a lot of hard work and industry insight, creating an investment property with an ADU is hassle-free, fast, and reliable. Renting out the space on your own property allows you to benefit directly from the generated rental income.
If you’re more interested in the extra space for yourself rather than using it as a rental, an ADU can still be a wise investment based on the value it adds to your property—you can combine the additional square footage and a number of bed/bathrooms with your existing home. In either case, you don’t have to spend lots of time or money to begin investing, and you can start right in your backyard.
When it comes to using cases, the sky’s the limit
It’s not a rarity for long-time homeowners to feel like they are outgrowing their space. In fact, it is very common for living spaces to turn into home offices, gyms, and playrooms. ADUs are the perfect solution to future proof a homeowner’s life – from housing boomerang children during transitional periods of life to keeping aging parents close by.
By adding an ADU to your property, you are empowered to have an additional flexible space that supports the needs of your current or growing household, without compromising your privacy.
When it comes to ADUs the use cases are limitless. Looking to make supplemental income or be your own boss? Think about installing an ADU as a short-term or long-term rental. Do you like to entertain, or might you be looking to keep loved ones close? ADUs serve as the ultimate guest suite. Rather than making kids or aging parents sleep on the couch, ADUs provide the perfect amount of privacy and allow for short-term and long-term guests to stay comfortable and peacefully. Or maybe you just need a place to get away? Think of adding an ADU to your home as a personal oasis from your hectic life, whatever that may be. In your backyard, you could have the personal yoga suite you’ve always imagined or even a playroom for the kids. Dislike your daily commute to the office? Imagine having your personal office space right in your backyard!
- ADU construction is consistent and reliable – gone are the days of increasing construction costs and delayed timelines!
When it comes to adding square footage to your home there are two questions that usually come to mind and in some cases, even hold you back from ever getting started! “How much is this going to cost and how long is it going to take?”
In today’s environment, home additions or improvements can seem like a daunting task as they are often heavily impacted by supply chain issues, increasing construction costs, and delayed timelines. Modal has long been a fan of modular ADUs because they are built off-site and have many advantages over a traditional site-built ADU.
Unlike a traditional site-built ADU, which takes a year or longer to build, Modal’s typical turnaround time, which includes everything from permits and site surveying, to offsite construction and install, is roughly 3-4 months. With a modular ADU, you will be reaping the benefits of having extra backyard living space much more quickly.
Because modular ADUs are built off-site, control of quality in process and the materials used are monitored much more closely. On top of that, the materials used won’t be exposed to weather and the elements because they are assembled in an indoor, climate-controlled environment. This maintains the quality of the structure before it is even delivered to your property.
Additionally, a general benefit to modular construction is a reliable price can be secured and identified before the first dollar is ever spent versus standard construction methods which incur project delays, multiple change orders and other unforeseen circumstances. With 80% of modular construction done offsite, homeowners can benefit from fixed costs, limiting cost overrun. While there are many ADU builders to choose from, a perk to working with Modal is the company’s “All-In Pricing” and turnkey management service. To learn more visit https://livemodal.com/.