CHAPTER 6: BUILDING AFFORDABLE ADUS – A FAMILY AFFAIR
So far, we have discussed the multiple benefits of building an ADU when you become less able to look after yourself but are still keen to retain your independence. All those options apply when you already own a property. However, there are numerous other scenarios where, as a homeowner, building an ADU or affordable housing unit on your property would still make a lot of sense. If you are wondering how ADUs can provide so many solutions to myriad challenges and problems, the answer, to a degree, lies in the description. Steel- frame homes have already found a niche in today’s property market, not just in the U.S., the U.K. or Europe, but across the globe, because they provide a cost- effective solution to many of today’s housing problems. Now, if a property is affordable to build and that affordability includes the price of the lot the property sits on, imagine just how much more affordable a steel-framed home would be when you already own the land! So what scenarios are we talking about here? Helping your children gain independence – In many countries, the average age for children leaving home and buying their own property is now well over 30. The sole reason for this is the rising price of residential property in areas where there are good work opportunities. Many mature children, looking to gain their independence, run the risk of falling into a common trap. If they can’t buy their own home and get on the property ladder, then their only option is to rent a residence. However, with the rising value of residential property, rents have also risen. Renting a property is now so costly that it can
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