The new year is quickly approaching. And, some of the housing trends for 2023 are becoming apparent. For instance, adding an accessory dwelling unit to an existing home. Constructing an ADU has become a popular choice for families and those looking to make some additional income. In this article, we will be going over the basics of adding an ADU to your home in the new year.
Follow along below to learn more about this topic.
What is an ADU and Why are they So Popular?
An ADU or Accessory Dwelling Unit is a separate living space that has been added to a single-family home. ADUs are known by several names like: in-law suites, backyard cottages, basement suits, garage conversions, and carriage houses. Generally, an ADU is used to generate additional income or to provide a living space for an additional family member.
ADUs have gained lots of popularity over the past years. And, it seems that the love for ADUs is here to stay. Many places have passed laws to allow the construction of ADUs and make the process easier overall. This is due to housing shortages and the high cost of living in most parts of B.C. An ADU has been deemed an affordable way to increase the number of dwellings in a neighbourhood, without large-scale construction.
Popularity has increased!
Another reason that ADUs are gaining popularity is because of the age of the population. Most young people are looking for ways to take care of their elders without putting them in a care facility. Having an ADU for older family members makes it significantly easier to take care of them in their old age.
This trend certainly peaked during COVID-19 when many older people were dying due to outbreaks of the virus in nursing homes. Furthermore, for young adults who cannot afford to live on their own, ADUs can provide a living space until they are able to save enough money to move out.
How Much Does Adding an ADU to a Property in Langey Cost?
The cost of adding an ADU to a property in Langley varies enormously. The cost of construction is often determined by the type of ADU you choose to add. Converting an existing space like a garage, basement, or attic is much more affordable than building an entirely new structure. Adding an ADU to an existing space can cost somewhere in the range of $70,000 Canadian.
However, building an ADU like a carriage home can cost upwards of $200,000 Canadian. And, depending on the neighbourhood you are building in, there can be different rules and regulations about what ADUs you can and cannot construct.
As well as, property zoning exceptions that prevent certain types of ADUs. Furthermore, most ADUs come with stringent rules about the way the unit needs to be constructed in order to be approved by the city. This can be both costly and untimely.
Should I Build an ADU?
If you are interested in building an ADU, it’s best to do some reconnaissance in your neighbourhood first. In some neighbourhoods, ADUs are widely excepted and quite popular. However, in other neighbourhoods, they can negatively impact your home’s resale value. Typically, if your neighbours are building ADUs, then it is safe for you to follow suit.
Although, if you are the only one building an ADU on your block, there could be some risks involved. Much like any home improvement project, there is never a guarantee that you’ll get your money back when it comes time to sell. So, it is important that you think it through before pulling the trigger.
If you do decide to construct an ADU, make sure you take the time to get the necessary permits. Some cities have hefty fines for violating such requirements. Moreover, it can make: your home harder to sell, you vulnerable to enforcement from bylaws, and conflict with neighbours.
Contact Me Today About Adding an ADU to your Property in Langley.
Langley, British Columbia has some great opportunities for those looking to construct their own ADUs. ADUs come with lots of benefits when done right. Enjoy some additional income from your own ADU or extend a helping hand to a family member in need.
Discover more about Homes with Suites by reaching out!
For more information about adding an ADU to a property in Langley, contact me today. I’d be happy to help you find the perfect place to call home in this awesome city. Be sure to check out my social media for the latest updates and more. I look forward to working with you in the near future.