Brooks Gibbs recently sat down with Devin Peterson on his Brighter Retirement Radio program to talk about how ADUs can supplement retirement income for seniors.
About Brooks Gibbs
This author has yet to write their bio.Meanwhile lets just say that we are proud Brooks Gibbs contributed a whooping 15 entries.
Entries by Brooks Gibbs
There are so many “solutions” floating around out there that make some pretty astounding claims when it comes to additional income. You have everything from makeup to essential oils to Ponzi schemes. Let’s go through what an ADU is- and isn’t.
ADUs are surging through the housing market as a great option for homeowners to not only have additional income from short or long term tenants, but, as millions of baby boomers move into retirement and age, ADUs present a unique way for homeowners to have additional housing for an elderly family member.
In West Coast cities like Seattle and Portland, those coming for the new jobs created by the tech industry are faced with sky-high rents and cutthroat competition for housing, driving prices ever higher. Consequently, Portland is also relaxing previously stiff ADU regulations, allowing more homeowners to place ADUs on their property than before.
Appraisals can be intimidating in and of themselves. However, when it’s for an Accessory Dwelling Unit, or ADU it’s a completely new learning curve. Because ADUs are still a relatively new trend, the regulatory bodies are still catching up and creating new market standards for this process. There are, however, some key points that most appraisers would agree upon, so we’ll go over those with you.
Think tiny house, but adapted to meet the unique needs of the elderly, including the necessary medical accessories, a video camera system that can be linked to their caretaker’s phone, and a virtual companion, which can help play reminders for medication, sugar checks, etc. MED Cottages have some very unique safety features as well, including floor cameras in the event of a fall, pill dispensers, and an intercom to allow the resident to call for help if needed without having to get to a phone.
Some may think that any building could serve as an ADU. However, there is a big difference between an ADU and a shed, garage, or outbuilding. The difference is connecting your ADU and home. An ADU is a full time dwelling unit and therefore it requires the complete connectivity to utilities that any home would need; Power, Water/Sewer and often time’s Natural Gas for heating.
An accessory dwelling unit, or ADU, is actually a simple and old idea. To put it in simple terms, it’s having a second small dwelling right on the same grounds (or attached to) your regular single-family house, such as:
an apartment over the garage, a tiny house (on a foundation) in the backyard, or a basement apartment.
ADU Planning Guide
Download our free, 40-page ADU planning guide for a detailed look at the necessary steps for creating an accessory dwelling unit on your property. Click here.
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ADU Basics E-Course
Take our free e-course and learn about ADUs through a series of expert video presentations. Click here.
175 E. 200 South
Bountiful, Utah 84010
* “ADU Utah” is used for promotion in the planning and implantation of Accessory Dwelling Units in the state of Utah. All business is transacted with Real Property Services, a licensed general contractor. Click here for more information on Real Property Services.