Ahh Oregon a state known for dense forests, livable cities and the occasional sighting of bigfoot Well, there’s something else happening in Oregon lately. People are building ADUs and lots of them. Accessory Dwelling Units, or ADUs, are additional separate living units on single family lots that most people rent out for extra income. For example, Joe and Amy live in a beautiful old house in Portland, which has supported their many hobbies. When kids entered the picture, they remodeled their upstairs, added a bathroom, and retired some of their more exotic hobbies, like beekeeping.
Joe and Amy’s lives and priorities had changed. They wanted to start a fund for their kid’s college, start saving for retirement and both had aging parents they wanted to be close to but not too close. A friend suggested they build a rental unit on their property for extra cash. Joe and Amy were intrigued and visited accessorydwellings where they read all about how other home owners had developed and rented ADUs, on their property. They were motivated! He could build a legal ADU in his basement, attic, garage, above his garage, or as a.
Freestanding cottage in the backyard. Even better, the City of Portland is waiving development impact fees for ADU projects until July 2016. That can equate to a savings of over $11,000! That’s huge! Joe and Amy knew this was the perfect way to invest and have the flexibility to house one of their parents in the future. They decided to convert the garage. After construction was complete, the ADU rented for $850 per month, and provided a quick return on their investment. Sure enough, six years later, after the construction cost had been recouped through rental.
Accessory Dwelling Units Take the First Step
Income, Joe’s mother moved into the unit. Joe and Amy’s neighbor, Rosa, had witnessed how useful the ADU was over the years and visited Accessorydwellings to see if she could benefit from building one as well. Rosa was about to retire and was looking for a way to reduce her living expenses so she could travel more with her dog Baxter. She worked with an architect to make the best use of her space, and chose a detached backyard ADU designed just for her. She built it small because she knew that small.
Homes are less expensive to build and maintain, use very little energy, and can be quite charming. Rosa moved into her new ADU and rented out her main house. The rental income not only covered the cost of her mortgage, but also began to offset the cost of her ADU construction. When Rosa’s cousin Daryl in Eugene heard about this, he decided to build one himself. Oh, Daryl he’s a bit obsessed with what we’ll call nature photography. Since he spends a good deal of time away in the woods,.