Accessory Dwelling Units – Part 2

Do you need more space at home?

Before you add on an ADU, or an accessory dwelling unit, check to see what’s allowed. Zoning laws and permits are extremely important. If you own a small lot, adding onto your existing home will gain you extra square footage and save on yard space. Check the bylaws of your home-owner association. Know what’s permissible. Will it add value to your property? Not necessarily. Try to determine the return on investment before proceeding with a project. Research property values and market trends in your location. Funding can come from a variety of sources, and there are pros and cons to each, and everybody’s situation is different. To avoid overspending, factor in the additional cost of utilities and taxes. Don’t forget to add in the cost of furniture and appliances, and if you’re planning on rental income, make sure you can cover all bills should a lapse occur.

Luke 14:28 is a verse Jesus used to consider the cost of being a disciple. It’s appropriate here as well. “For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?” Planning and careful budgeting will save you from experiencing the pain of the stress of the project taking twice the time and money than you ever anticipated. Jesus gave good advice for anything that is to be done with excellence. An ADU can be a blessing to you and those you love. Just do your research, abide by the law, and work within a clearly defined budget. It can be a source of income or a space to house your loved ones. The true return on your investment may not always appear in dollars.

Now we have a budget coaching program that can put you on the road to financial freedom. Go to crown.org and click on the Get Help Now tab. Learn how you can get started today at crown.org.