The Benjamins weren't keen on moving too far from Danville in search of a more affordable home, nor were they interested in renting long-term. So, they opted for another solution: building an accessory dwelling unit, or ADU, in their parent's backyard.
ADUs are compact housing units... On average, they cost between $100,000 and $300,000 to design and build, though additional expenses - such as site preparation, inspections, utility hookups, and permits - can drive up the total cost.
Thanks to their affordability and minimal land requirements, ADUs have become a popular alternative to traditional homes and apartments, particularly for first-time homeowners like the Benjamins, who navigated high home prices, mortgage rates, and a shortage of available homes.
To boost the supply of affordable housing, several states, including California, New York, and Vermont, have supported ADU construction by offering grant programs to help homeowners.
#accessory-dwelling-units #affordable-housing #homeownership #real-estate-trends #first-time-homebuyers
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