By Living Room Realty, February 13, 2020
Bobby Curtis was back on KATU’s Afternoon Live to discuss adding Accessory Dwelling Units (ADU’s) or fully functional separate living spaces to your current property. It’s pretty hot in Portland right now, but is it for you? Click to watch the short interview here Or skip right to the highlights below.
What need does an ADU fulfill?
1. More housing in Portland.
2. Extra income for the home owner to help pay mortgage.
3. Multi-generational living on one property
Quick facts
1. Cost: $125k-$250k with permits, materials, labor, and utilities.
2. Going rents for new ADU’s are $1000-$1500/mo
3. They can be separate units- all new construction, converting an existing structure like a garage or even a basement.
Check with your city inspectors about ADU requirements
1. To see what type of permit is required if you want to use it as a short term rental
2. There are parameters ADU’s must meet – Example in Portland it can be no bigger than 800 SF or 75% of the SF of the primary house.
Things to consider with additional dwelling units on your property
1. New tax scenario for your property
2. Whether having tenants, short term or long term will work for you
3. Losing yard space or basement
