We’ve laid out some of the pros and cons to consider.
Pro’s
Peace of mind. Because your child(ren)/parent(s) are literally right in your backyard, you can be there in seconds, should they need help. You can also check in on them on a regular basis. The proximity of an ADU not only gives you peace of mind, but also saves you time, compared to traveling back and forth to a more distant home.
Independence/privacy. Your loved ones want to maintain their independence, but you and your family probably also want your privacy (it’s been a long time since you and your parents lived under the same roof!) A Tiny House/ Granny pod gives you both your own space.
Long-term cost. The upfront cost is high ($40,000 to $125,000 according to many of the sources we consulted); however, long term, it’s much less expensive than an assisted living community / or apartment.
Home resale value. With the extra square footage, your property value may increase with potential buyers viewing the structure as a great guest cottage, permanent or temporary residence for grown kids, or even rental property (be sure to check zoning regulations). Some granny pods are mobile, which means they can be resold when you no longer need them.
Con’s
No care included. Tiny houses/Granny pods cannot be compared, apples to apples, with care facilities/apartment complexes. If your child(ren)/ parent(s) needs more care than you can provide, you will still need to pay for home care on top of the cost of the structure itself.
Utility upgrades. The ADU is designed to be connected to your existing utilities, potentially requiring that you upgrade your electric, water or, sewer system to accommodate the extra load. Your utility bills will also increase.
Zoning regulations. Be sure the zoning laws in your area allow you to build a separate residence on your property.
Property taxes. Along with an increase in property values comes an increase in property taxes. Also confirm that your homeowner’s insurance will cover this addition to your property in case of any damage, etc.
As baby boomers and their child(ren)/ parents age, residential choices are increasing. With careful research and weighing the benefits and disadvantages of each, you can find an option that works for you. Tiny House/Granny pods are creative solutions for adult child(ren) and seniors and might be in your family’s best interest.