An ADU, or Accessory Dwelling Unit, is a secondary housing unit located on the same property as a primary residence. These units can take various forms, including:
Detached units (like a small cottage or garage conversion)
Attached units (such as a basement apartment or an addition to the main house)
Converted spaces (like a former storage area or attic)
ADUs are often used for a variety of purposes, such as housing family members, generating rental income, or providing a space for guests.
How Can an ADU Help Me Qualify for a Loan?
Having an ADU can positively impact your financial situation and help you qualify for a loan in several ways:
Increased Property Value: An ADU can enhance the overall value of your property, making it more attractive to lenders when assessing your loan application.
Rental Income Potential: If you rent out the ADU, the additional income can be factored into your debt-to-income ratio, potentially improving your eligibility for a larger loan.
Diversification of Income: Having a separate living space can provide a safety net in case of financial hardship, reassuring lenders of your ability to make mortgage payments.
Flexibility in Living Arrangements: An ADU allows for flexible living arrangements, which can be appealing to lenders who see you as a more stable borrower.
Overall, an ADU can be a valuable asset that not only enhances your living situation but also strengthens your financial profile when seeking a loan.
Why Would Purchasing a Home with an ADU Be Beneficial to Me?
You can afford a higher quality, larger home without a large monthly payment. The income from the rental will supplement the mortgage payment. Making your payment about the same as a townhome. Would you rather live in a large home on a large lot with future space to grow, or a small townhome with neighbors' inches away and a very small yard?
Payoff your mortgage faster. Essentially your renters are helping you to pay off your loan balance. Creating larger equity in your home faster and a lower payment for you now or additional income for you to use as needed.
Room to grow. Purchasing a home now with an ADU allows you to expand in the future into the ADU space. It is so flexible, when you're ready and want the space, it is there and finished ready for your family to expand into it.
See below for a breakdown:
Where Can I Find an Available Home With an ADU!?
We have many home plans available with the ADU options. Come walk through 2 houses we have showcasing ADU options today! Contact Hiedi and Laura to check them out or visit our website for more information.
Below is one that is ready to move in RIGHT NOW!
- $599,900
- 3296 FINISHED Square FT
- 3 bed 2 bath Upstairs
-Finished Basement has 2 bedrooms, 1 bath, kitchen, laundry, family room and has its own furnace and a/c
- Oversized 2 car garage large lot
You must see this incredible opportunity on .43 acres in Grantsville with easy access to I-80 and only 35 min from downtown Salt Lake. Brand new construction completely finished with an accessory Dwelling Unit (ADU)/basement suite. The ADU is set up in the basement with a private entrance and has 2 bedrooms, 1 bath, kitchen, laundry, family room and has its own furnace and a/c. This offers so much flexibility and can be used as rental income which could also help to qualify for financing while providing long term income potential. If you don't plan to rent the ADU it's an amazing space for your mother-in-Law, older kids who need to move back home, teenagers, or just to allow your family a full basement to enjoy. Primary dwelling includes Main floor living with 3 bedrooms, 2 bathrooms, laundry, family room, kitchen, and dining as well as an additional family room in the basement with a large storage area. The oversized garage is DEEP with dimensions of 25ft by 33ft. Room for multiple vehicles and toys. See the photo with two full size trucks parked with tons of space left. In addition to the homes amenities the lot is 5 min from the Granstville Reservoir and the amazing Stansbury Mountain Range. Fishing, Camping, Hiking, Off Roading and so many recreation opportunities right outside your door.
Who Can Help Me Qualify for a Loan?
Remember, an Accessory Dwelling Unit (ADU) boosts property value, offers rental or guest housing, generates income to aid mortgage payments, and improves loan opportunities, making it a functional home improvement and strategic financial asset. Plus, we have one ready with an AMAZING price and incentives. Are you ready to own your own home, but not sure if or how you can? We have a trusted lender who can help you find out your best options.
AARON GIBBONS,
Preferred Lender.
(801) 918-3067
ALLIANCE NMLS #304510
AARON'S #1461749
How Do I Get Started?
Contact Our Sales Agents:
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