According to data collected by Santa Clara County, the average yearly cost of a “nice” retirement home averages around $84,000 a year. Food, amenities, space, and activities can hike up the cost even further.
When you build an ADU in your backyard for your parents, the average cost hovers around $300K, based on model, size, customizations, and the construction materials that you select. Adore Homes also offers the best ADU financing in Northern California, so financing is easy giving people affordable payments, and given the fact that you own your ADU and it dramatically increases the resale value of your home, choosing to build an ADU makes more financial sense than sending your parents to a retirement community that offers you zero return on your investment.
According to a 2006 Oxford study conducted by Zara Srapyan, senior citizens living in retirement homes and assisted living facilities suffered from significantly poorer mental health than those who lived on the same property with family members. Physical and emotional health declined in people aged 65 and older who resided at nursing homes, with loneliness being a common factor attributing to their mental decline, while those who lived with family were significantly more stable and had positive mental outlooks.
ADUs enable seniors to be more independent which promotes greater self-esteem and life purpose. Simply by having charge over their own dwelling that they are responsible for cleaning and maintaining keeps the mind engaged. They also feel like they are not a burden, and take satisfaction in being able to clean, maintain the ADU, and they have the freedom to cook, do laundry, and set their own routine without being on a schedule. The ADU lifestyle gives them their dignity, and by providing your parents with this independence you are making a great investment in the people you love.
Of course, ADU builders aren’t reconstructing the Golden Gate Bridge, but instead they create bridges from grown children to elderly parents by enabling seniors to live on the family property, and therefore easy access is granted so that family members can easily visit one another. The average person whose parents are in retirement homes confess that they don’t visit their parents as often as they would like to because the commute is time consuming. However, when your parents only live several yards away from your home, daily visits are easy and can be had as often as you like. This is a real investment in family that one can’t achieve when their parents go to assisted living facilities.
In many cases, Adore Homes has built ADUs throughout the greater San Jose area for families who want to house their elderly parents on the property, and the seniors help to fund the dwelling. This is a common practice to see; the senior parents are investing in their own custom ADU designed to best suit their needs as they live out their golden years, and the remaining investment from the property owners sees an ROI in a matter of years, as the ADU adds significant resale value to the property.
This is an advantageous arrangement for both the senior parents and the adult children: the elders are able to own a piece of something and have a sense of worth that they are still supporting themselves, and the rest of the family is able to invest in an ADU with financial support from their parents knowing that the ADU build is ultimately adding resale value to their property that they will get back, and they are simultaneously providing accommodations for their parents to keep them out of an expensive retirement center.
From a practical standpoint the logic is crystal clear: why invest thousands of dollars into an offsite facility that you have zero ownership in, and that offers you no financial ROI, and a minimal emotional ROI, when you can build an ADU for your aging parents and get a full return on your financial investment? In addition, your emotional investment will be returned in full, as you will be providing a home for your parents with close family ties that gives them greater independence–something one can’t benefit from at a senior living center. When you work with an ADU builder, you are enriching your parent’s golden years by giving them a healthier mindset with greater independence, and you are significantly increasing the resale value of your home. From the standpoint of investment, this truly is a clear no-brainer.
Adore Homes has been building ADUs in Northern California for over a decade, and many of our builds have been true passion projects where we work with families to create custom accessory dwelling units for senior family members that meets all of their daily needs. Call today for a free estimate and learn how our ADUs can help keep families together while saving them a great deal of money.
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