This is good news!
It gives homeowners a way to more effectively use the real estate that they own. Here are a few ways that this could be of benefit homeowners:
- rent it for additional income.
- downsize into it, renting out the primary home for additional income.
- house a caregiver so they can stay in their house longer and avoid assisted living.
- house a child, parent or other family member (again, avoiding costly rent or assisted living).
- use it to add livable are on their property to accommodate an expanding family
Opponents of ADUs say that it will tax resources, cause more traffic and increase crime in their neighborhoods. The reality is, the addition of and ADU can allow existing residents hold on to what is likely their biggest financial asset – their home.
It also adds even more “juice” to my earlier blog comments that Englewood presents one of the best real estate investment opportunities in the Denver area: Where to buy investment property – steroids edition – (although Englewood’s ordinance prevents corporate development or most corporate renting of ADU’s)
Read more about Englewood ADU’s here: