Las Vegas has been seeing a trend in the construction of homes that include accessory dwelling units (ADUs), also known as casitas, next-gen units, in-law units, or granny units. These living spaces, usually separate from the main house, have become popular in communities such as The Ridges, Summerlin, Southern Highlands, and many others.
What is a Casita?
A casita or accessory dwelling unit (ADU) is a self-contained living space that is either attached or detached from the main house. These units typically have their own entrance, kitchen, bathroom, and living area, and can be used for a variety of purposes.
Casitas offer a unique combination of privacy and flexibility, which makes them an attractive feature for homebuyers. They come in different shapes and sizes, ranging from small studios to full-sized multi-bedroom dwellings, and can be customized to fit the property owner’s needs.
There are currently more than 1.4 million accessory dwelling units in the United States, and most of them are in the South and West regions of the country. ADUs work well in warmer climates like what we have here in Las Vegas because there is not so much concern about dealing with inclement weather while going back and forth between the unit and the main house.
Advantages of Buying a Las Vegas Home with a Casita
There are many reasons to consider purchasing a home in Las Vegas that includes an accessory dwelling unit. These include:
Increased Property Value
One of the most significant advantages of buying a Las Vegas home with an accessory dwelling unit (ADU) is the potential increase in property value. Adding an ADU to your property can increase its overall value because it is viewed as an addition to the main home.
This increase in value is due to several factors. First, the additional living space provided by the ADU adds to the overall square footage of living space on the property. Second, having an ADU on the property can make the home more attractive to potential buyers, particularly those who are looking for a flexible and adaptable living arrangement.
The value of a casita on the property is not solely determined by its rental income potential, although that can be significant, especially in a popular tourist destination like Las Vegas. Many buyers are also attracted to casitas because of their many different uses, whether it be for multi-generational living, a private workspace, or a hobby space (more on these later).
Casitas can also increase the marketability of a home as they are a desirable feature that sets the property apart from others in the same area. This is especially important when there is a buyer’s market and sellers need unique attributes to help their homes stand out from the crowd.
Rental Income
As we have talked about, another major benefit that homeowners with accessory dwelling units have is the potential for significant rental income. Renting out an ADU can be particularly beneficial for homeowners who are looking to supplement their income.
The rental income from a casita can help cover the costs of the mortgage, property taxes, insurance, and maintenance, among other expenses. This can help ease the financial burden of homeownership and provide a steady source of passive income.
The demand for rental properties in Las Vegas is currently high, particularly in desirable neighborhoods where many ADUs are being built. The city’s growing population and strong job market have contributed to this demand, and there are no signs that this is going to slow down anytime soon.
When it comes to renting out an ADU, homeowners have several options. They can choose to rent out the unit on a long-term basis, which typically involves signing a lease agreement with a tenant for a year or more. Alternatively, they can choose to rent out the ADU on a short-term basis, such as through Airbnb or other vacation rental platforms.
The short-term option allows homeowners to generate higher rental income during peak tourism seasons. However, renting repeatedly for short durations might also require more management and upkeep.
Energy Efficiency
With skyrocketing electric bills and concerns about the climate, energy efficiency is a growing priority for homeowners. Buying a Las Vegas home with a casita can provide homeowners with the opportunity to invest in an energy-efficient living space that can provide long-term financial benefits.
One of the primary ways that casitas can be designed to be energy-efficient is through the use of insulation. Proper insulation can help keep the unit warm in the winter and cool in the summer, reducing the need for heating and cooling systems and lowering energy bills. Energy-efficient windows and doors can also help reduce consumption and lower electric bills.
Installing solar panels on the casita can provide Las Vegas homeowners with a source of renewable energy. This reduces their energy bills even further while minimizing the impact on the environment.
Multigenerational Living Options
Buying a Las Vegas home with an accessory dwelling unit can provide homeowners with the flexibility to create a multigenerational living arrangement. This is what has helped these units earn nicknames such as “granny units”, “next-gen units”, and “in-law units”.
With an ADU, homeowners can provide a private living space for elderly parents, adult children, or other family members who want their own space while still living close to home. The benefits of multigenerational living are numerous.
For elderly parents, it can provide a way for them to maintain their independence while still being close to their loved ones. Adult children just starting out in their careers can benefit from the financial support of having a private place to stay that is provided by their parents.
An ADU can even serve as sort of a private dormitory for college students who are attending school nearby. This allows them to be close to their family while still having some of the independence that comes with living the “college life”.
Private Workspace
Buying a home with a casita can provide homeowners with a private workspace away from the main dwelling. With a detached accessory unit, homeowners can create a dedicated workspace that is separate from their living space, allowing them to focus on work without distractions.
The COVID-19 pandemic caused many employers to switch to work-from-home options, and this trend has continued in many organizations even though the pandemic is essentially over. A casita can provide a quiet and dedicated workspace that is free from distractions and interruptions, allowing homeowners to focus on work and be more productive.
Having a private workspace can also be beneficial for homeowners who run their own businesses or have clients visiting their homes. The unit can provide a professional setting for meetings and consultations without the need to use the main dwelling.
Workout Facility or Hobby Space
Casitas can be adapted into a workout facility or hobby space without interfering with the main living areas of the home. The unit can be customized to fit the needs of the homeowner’s particular interests.
For example, an accessory dwelling unit can be converted into a gym or workout space, allowing homeowners to exercise in their own private area. The unit could also be converted into a hobby space, such as a woodworking shop or painting studio, providing a dedicated space to pursue creative interests.
Dwelling for an On-site Caregiver
A home with an accessory dwelling unit can provide homeowners with a private living space for a caregiver who can assist elderly or disabled family members needing regular care. This provides peace of mind for families who are trying to care for aging or disabled loved ones.
With more and more baby boomers entering their retirement years, the need for senior care continues to grow. Las Vegas is a popular destination for seniors, but as they age, they will often need extra care in order to keep living at home. Having a unit for an on-site caregiver allows aging and disabled individuals easier access to the care that they need, so they can remain at home and maintain a better quality of life.
Questions about Casitas or Anything Else Related to the Las Vegas Real Estate Market? Contact the Knoch Group Today
Accessory dwelling units (aka “casitas”) can be a great investment for those who are either looking to purchase a Las Vegas area home or who want to build an ADU on an existing property. ADUs can add as much as 35% to the overall value of your property.
If you are interested in learning more about accessory dwelling units or anything else about real estate in southern Nevada, the Knoch Group is here to help! Our founder, Ryan Knoch, is one of the top luxury home brokers in Las Vegas, and he is happy to speak with you at any time to discuss your needs and answer any questions you may have. Send us a message!
