Accessory Dwelling Units (ADUs) are also known as:
- Ohana Unit (Hawaii)
- Granny Flat
- Mother-in-Law Unit
- In-Law Suite
- Grand Retreat
Homeowners Build ADUs for Many Reasons:
- Long-term rental: supplemental rental income
- Short-term rental: Airbnb and VRBO short-term rentals can generate much higher rent than monthly rentals, but require more time to manage
- Age in Place: Elderly homeowners that need a home without stairs or with special access can build an ADU to stay in the neighborhood they love
- Elbow room: More space for elderly parents or kids returning from college to live. Have your family close, but not too close!
ADUs in Portland
According to AccessoryDwelling.org:
- Eighty percent of ADUs in Portland are long-term primary residences
- Over 2000 Portland homeowners signed up for the new “House the Homeless” ADU program
- Portland currently waives System Development Charge (SDC) Fees—savings from $7,000 to $15,000—for ADUs
- Roughly thirty-five percent of all residential homes in Vancouver BC have ADUs, compared to one percent in Portland and Seattle
- Permits for ADUs in Portland continue to increase:
- 2009 = 24
- 2010 = 86
- 2011 = 133
- 2012 = 164
- 2013 = 201
- 2014 = 263
- 2015 = 483
- 2016 = 615
- The environmental impact of an ADU is much lower than other single-family residences
- ADUS require less utility usage for cooling and heating
- Most ADU residents commute by bike or mass transit because they tend to live closer to work
- The ADU is a rapidly growing segment of the Portland Housing Market!
If you have questions about ADUs and whether one might be right for you, please give me a call. I look forward to hearing from you. Eric Dunlap 503-936-2054.
P.S. Be sure to sign up for the Build Small, Live Large ADU tour, September 9 and 10.
*Information was gathered from www.accessorydwellings.org
**This is not a commitment to lend. Prices and guidelines are subject to change
without notice. Some products may not be available in all states. Subject to review
of credit and/or collateral; not all applicants will qualify for financing. It is important
to make an informed decision when selecting and using a loan product; make sure
to compare loan types when making a financing decision.
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