The ADU Lifecycle
Plans change, and an accessory dwelling unit (ADU) is a forever space you can rely on as it can effortlessly be transformed to suit your needs over time. Below is a breakdown of what the ADU lifecycle looks like over the years — and why it’s worth investing in.
You purchase a home with an ADU, or add it to your existing property. It is a prefab space, minimally designed to fulfill all your needs with less, a truly economic investment. Around this time, you might start a family.
As you raise your family over the next couple decades, the ADU might serve as your office, a playroom for your kids, a pool house, a space for visitors. It’s an ultra-versatile open floor plan, so you have the freedom to use it however you like even if that changes day to day. During this period, the opportunity is to save on costs and maximize your family’s existing property with room to grow. In between uses, you might rent your ADU out to tenants or visitors without having to rearrange your home, while maintaining privacy for you and your family.
With most of the kids out of the house, now might be a good time to convert your ADU into a rental property. Depending on your needs and how often your kids come to visit, consider the benefits for long term rentals versus short term rentals. Again, because of the ADU’s versatile nature, converting the space will be easy. Make the most of it.
After you’ve rented it out for a few years, maybe it’s time to bring it back for use within the family. As your own parents age, the ADU can make a great living space for an elderly person or couple. You’re able to stay close, spend time together, and take care of them nearby without any of the exorbitant nursing home costs or other potential risks, not to mention that they’ll be happier close to home. They’ll be better taken care of and they’ll still have their own space to breathe.
It’s been more than 30 years and you don’t need the amount of space you once did, so you move out of your home and into your ADU, making it your permanent residence. Now, you’re able to rent your home out to another family, or even to your own kids.
Your kids have their own families now and they’re ready to purchase a home. You sell your property to them, but remain in the ADU living space where your grandkids are close by, your family is around to take care of you (and vice versa) and things are comfortable and happy. You’re able to rent out the space short term while you’re on vacation for a little extra cash for posterity, and you get the best of both worlds.
ADUs are undoubtedly a worthwhile investment, and if you’re thinking about purchasing one, Modal offers a versatile selection of permanent accessory dwelling units that are built for life. Our products come with a full kitchen and bathroom. It’s the ideal setup for a home office, gym, yoga studio, art studio, additional guest living space… or all of the above.
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