Four reasons ADUs are good for the real estate market
Accessory dwelling units (ADUs) and detached accessory dwelling units (DADUs) have been getting a lot of press lately in Washington state. And for good reason – these mother-in-law apartments and backyard cottages provide real, tangible benefits to homeowners, renters and communities.
ADUs work as much-needed affordable housing options
It’s a tough housing market for many families right now. Market statistics suggest that ADUs are often a more affordable answer to new construction apartments with high rents. Plus, adding more rental units to the market helps meet supply needs and bring demand, and prices, down.
ADUs open up new choices for homeowners
Having an ADU on their property gives homeowners more opportunities than a traditional single-family home. Homeowners can house adult kids or aging parents in their own apartment, or the owners themselves can age in place without having to leave their neighborhood or even their backyard. Homeowners can also earn rental income to help offset rising property taxes or an expensive mortgage. All of these opportunities give homeowners the flexibility to support their families and live comfortably.
ADUs give renters more stability and access
Lower- and middle-income workers and families who don’t make enough to live where they work have to move farther and farther away to find something they can afford. With all the jobs the Seattle area has created, we’ve fallen behind on meeting urban housing demand. More housing options in city neighborhoods means more families can live where they work and shorten commute times.
ADUs appeal to energy-conscious clients
Buyers’ interest in green building and energy efficiency is only rising. ADUs by design are smaller, making efficient use of space and energy. Plus, they make use of existing land to help reduce sprawl.
When the real estate market includes options for everyone, we all win.
REALTORS® support common-sense solutions that will help create more kinds of homes at more price points.
Huge thank you to Sightline Institute for their research on the benefits of ADUs to our communities. You can read more about ADUs from Sightline on their website.