Do You want to Maximize the Value of Your Home?
You may be a wealthy landowner and not even know it! You think you don’t own land? Well, if you are a homeowner you DO own land and it’s called your backyard. And of course, the land your house sits on. The city of Seattle wants to help you maximize the value of that land.
What? Why would the City of Seattle want to help you maximize your land? For one, there’s no way to make more land so we’ve got to use existing. Seattle is a thriving city, full of high paying jobs that people come from all over for. This has made housing very difficult for a lot of people.
If you were to add an AADU or DADU to the land you already own, you could increase the value without ever having to move. Why would you want to create housing on your land? How about for you to keep living where you are!
As time goes by many are finding they want to stay in their neighborhood or community but that’s becoming increasingly difficult, as housing (and land!) prices keep rising. If you are not a high-income tech worker or if you are on a fixed income, even if you are downsizing in the process, buying a smaller house or condo isn’t always cheaper.
So, how would building an ADU help you stay in your home amid rising housing and land costs?
Well…you can build the new unit with Universal Design features so you can move in and age in place or, maybe you just want to downsize to free up more money for things other than housing. Building a smaller, detached unit would allow you to collect rent on the bigger home.
You could also add a parent-in-law dwelling unit to the basement and rent out this AADU to grown kids returning home. And ‘yes’ you should charge rent! I mean you gotta’ retire some day! Maybe you want to stay in your home, but you already know you will need some assistance. An ADU could house an on-site care giver or family member.
Or, the ADU could give you a home office that was separate from the commotion of the main house and provide a place for guests to stay. I would say you could even Airbnb too…but I won’t.
3 ways the city is trying to make it easier; ADU’s up to 1,000 sq. ft in size, higher height limits, the owner no longer has to live on site and no required parking space, which in a frequent transit area, in an Urban Village, that makes sense. Other parts of the city…well, It’s not like there is ample parking there now. I mean you’ve seen Capital Hill, Queen Ann, Ballard, Alki, etc, etc,. There was no parking even before the new regulations. Face it, we are a big city now. For better or worse!
How do you find out if your lot qualifies? Contact me! It’s easy to find out right away if your lot is too small but it will take more time to determine if your lot passes the initial size test but may have other features that keep it from qualifying. That’s where 1 AD Studio LLC can help!
