Over the last few years there’s been a secret housing boom in Portland. Accessory Dwelling Units or ADUs are small apartments built into basements and garages and they’re being built all over town.
The main reason people are building them is for family members but an equal number are using rents from ADUs to pay their mortgage or help fund retirement.
The city has had a development fee waiver for the last few years which has made them more affordable to build. The other part of the equation is the rise in rents has made ADUs very profitable.
That’s all great but how much do these cost to build? For a basement remodel it could be under $25,000 and for a newly constructed building around $130,000. Keep in mind that your property taxes will go up as well.
Here’s a great Portland Tribune article on ADUs.
A great Blog about ADUs in Portland