Accessory Dwelling Unit Trends
Two demographic factors define new opportunities for Accessory Dwelling Units in New Hampshire. The aging and longer life spans of the elderly have created problems for this population in terms of staying in, paying for and maintaining their current homes. Many have to sell because of the financial requirements of ever-higher costs and taxes on a fixed income. The second is that the high cost of housing precludes many young people from purchasing dwellings due to lower savings, incomes early in their careers. ADU’s provide important multigenerational housing.
Benefits of Accessory Dwelling Units
- ADU’s are a profitable way to add space to your existing home
- They provide market rate rental income or discounts for family
- Demographics, economics demand multigenerational housing
- ADU’s increase the marketability and sales value of a property
- They can utilize “Green” & Handicap Accessible construction
- Rates of return in double figures are better than stocks-bonds *
Four Main Types of Accessory Dwelling Unit Options
Attic or Basement Remodel
- Least expensive cost but have little privacy
- Smaller space and using existing shell, utilities
- Construction costs range $75,000 to 150,000
Over or in Existing Garage
- Fairly complex design & construction
- Saving $ using existing infrastructure
- Construction costs range $100 – 150K
New Construction Addition
- Design options- Green, HC assessable
- Interior connections with door, utilities
- Construction costs range $150 – 250K
New or Renovated Detached
- Most expensive cost but a lot of privacy
- Need utility, access points- Modular OK
- Construction costs are $250,000 plus
