by Lucas Gray, co-founder & designer at Propel Studio Architecture
Accessory Dwelling Units, or ADUs, are secondary homes that can be built on any residential property in Portland and many of the surrounding communities. As housing costs continue to rise, many neighbors search for affordable housing for themselves or loved ones. ADUs can provide wonderful places to live while being cheaper than buying a house in today’s market. They are also great ways to earn rental income for homeowners, potentially allowing people to stay on their property even if the neighborhood gets more expensive. In short, ADUs are great investments that help build wealth and provide much-needed housing.
At Propel Studio, we have been working in neighborhoods throughout Portland over the past six years to help people navigate the design, permitting, and construction process for ADUs. We find ADUs to be great ways to address our housing shortage while preserving the neighborhood character that we all enjoy.
Like any investment, there are costs associated with these. ADUs are not cheap – we find they cost between $175,000 to $275,000 depending on the size, complexity, quality of finishes, etc. The cost is relatively similar regardless of whether you are building new or renovating an existing space. However, the reward for this investment can be significant. ADUs can bring in rental income, will increase the value of your property, and are great ways to downsize and age-in-place rather than pay for an expensive retirement community. Overall, the benefit of these projects outweighs the initial investment.
To read the full article and learn more about ADU projects Click here: https://www.propelstudio.com/blog/why-adus-are-a-great-benefit-to-portland-neighborhoods