FINANCING AN ADU

Create more living space and additional income.

Need more living space for adult children, elderly parents, or an au pair? Renovate your existing home with an in-law apartment, convert your basement, or build a detached cottage onto your primary residence with an ADU (Accessory Dwelling Unit).

ADUs are a great way for homeowners to create additional income for expenses associated with owning a home. They also provide a cost-effective housing option for residents of our region.

What is an ADU?

An Accessory Dwelling Unit is a small residential living space located on the same lot as another home. ADUs can play a significant role in our housing crisis. The ADU policy allows property owners to build an ADU without having to get special or discretionary approval from the local zoning board.

ADUs can be internal within an existing primary residence, like converting a basement into an apartment, attached to a primary residence as a new construction addition, or completely detached, like a cottage or converted detached garage in a backyard.

ADUs are small residential living spaces which can be constructed on a single-family house lot or within or attached to the house itself. As an independent living space, an ADU is self-contained, with its own kitchen or kitchenette, bathroom and sleeping area.

An ADu can be

Within an existing primary residence, like converting a basement into an apartment
Attached to a primary residence as a new construction addition
Completely detached, like a cottage or converted detached garage in backyard
Converted from an existing structure such as a garage or be built as a new structure on the lot

If you need more living space for adult children, elderly parents, or an au pair, consider renovating your existing home with an in-law apartment, converting your basement, or building a detached cottage onto your primary residence. ADUs are also a great way for homeowners to create additional income for expenses associated with owning a home. And, they may provide a cost-effective housing option for residents of our region

A FEW THINGS ABOUT THE LAW YOU SHOULD KNOW IF YOU’RE CONSIDERING AN ADU:

Must be greater than 500 square feet
Cannot be over 900 square feet or 50% of the principal dwelling, whichever is smaller
Must include a bedroom, kitchen, and full bathroom
Includes an entrance physically separate from the principal dwelling, via a common area, shared hall, or corridor
Must be placed on a permanent foundation and have permanent utility connections
Must comply with local zoning setback and height requirements
Only one ADU allowed without special approvals
Is required to meet all applicable local building codes(i.e. Building, Sewer/Septic, Electrical, etc.)