The ADU

Revolutionizing Retirement Living Without Moving

As the summer season rolls in, many active adults and seniors I speak with seek ways to make their homes more functional, comfortable, and financially sustainable. Some ask for more information on reverse mortgages but are also curious about alternative solutions. Most prefer staying home with additional support versus moving to a different place or residence. But, of course, staying home or moving to an assisted living community has pros and cons. So here are a few other options to help make staying at home easier.

One way to enhance your home and improve your quality of life is by adding an Accessory Dwelling Unit (ADU) or splitting a lot. Both options offer seniors essential benefits such as additional living space for family or a caregiver, flexibility with 24/7 support and service options, and financial stability via income from an investment home on the property.

For seniors, adding an ADU can be a sound solution for in-home care by family. By having an ADU, elderly parents can enjoy independence and privacy while still being close to loved ones. The rental income from the ADU would also offer financial benefits for the homeowner if it were built as an investment on the property. No reverse mortgage is needed.

Aside from accommodating seniors, ADUs offer other benefits to homeowners. They can also serve as a rental property and/or as an additional steady income source. Furthermore, having an ADU can significantly increase the home’s overall value, making it an asset in the long term.

In San Diego, having an ADU has become more accessible with the recent changes in ADU ordinances. The streamlined process saves homeowners money and time as they navigate the addition. With the city’s support, it has never been a better time to invest in an ADU or lot split.

When considering adding an ADU or splitting a lot, homeowners can consult a qualified real estate agent. They can assist you in getting the most out of the investment and provide valuable insights on the best strategy for a profitable addition. For seniors, making changes to their homes or properties can feel daunting, but adding an ADU or splitting a lot can provide increased independence, privacy, and financial stability.

Role of a real estate agent in ADU projects?

Adding an accessory dwelling unit (ADU) or splitting a lot can be a significant investment for homeowners. That is where a real estate agent, an expert in navigating the market, can be incredibly valuable. A competent real estate agent can provide insight and guidance from the property’s current and future value to rules and regulations governing the construction of ADUs, ensuring a smooth process from start to finish.

1. A real estate agent can assess the property’s ADU potential and advise on the best approach, whether a detached ADU or a conversion of existing space. They have the expertise to identify and evaluate the investment potential, including analyzing the return on investment, property value increase, and potential rental income.

2. A real estate agent can support you with a title report and maps to help you understand your available area. They can sometimes connect you with someone who will assist with the permitting process, which is essential in navigating the complexities of local zoning laws and building codes. A zoning consultant can help guide the homeowner through the application process, ensuring they have all the necessary permits before construction begins.

3. A real estate agent can help homeowners assess their financial options. They may work with a financial institution to give homeowners detailed financing options for their ADU projects. They can also assist homeowners with financing options, including the option of obtaining a construction loan. A good referral to the right banking resource can make all the difference.

4. Real estate agents have extensive networks, with opportunities to connect their clients with reliable architects, contractors, and builders to ensure quality work and timely project completion. They can also provide specific insights for home improvements that can significantly increase the property’s value, making it a worthwhile asset for the future.

Consulting a real estate agent can be a vital step in adding an ADU to a property. They can provide significant value to the project by helping homeowners balance their financial objectives with their construction goals.

In 2001 Melina Rissone moved to San Diego from Germany. She has always led an active lifestyle and takes advantage of beautiful San Diego County today. She enjoys reading, camping, hiking, personal development, and yoga, but her calling has been to work with active adults and seniors who are preparing to right-size their homes for retirement. She is a San Diego Senior Real Estate Specialist (SRES) broker. She is an expert in guiding homebuyers and sellers over 50 through major financial and lifestyle transitions. Melina feels blessed each day to come home to her beautiful daughter and German shepherd, Carlee. You can contact Melina Rissone, Broker Associate. DRE# 01498140 at www.MelinaRissone.com (619) 864-6017.