With the passage of the new Wheat Ridge Accessory Dwelling Unit (ADU) ordinance 1744 in July 2022, residents will now be able to build an additional residential rental unit at their property. The City and County of Denver adopted a similar ordinance many years ago, and it has led to an increase in housing density and home values in the City. Wheat Ridge residents will now be able to monetize previously unused portions of their property which should serve to boost home valuations.
The increase in value of your Wheat Ridge home created by the new ADU code can vary greatly depending on the neighborhood and parcel. Carpenter Consulting Group, LLC specializes in providing insights on the average market rent for a specific address and whether or not an ADU makes financial sense given other considerations. The Wheat Ridge ADU law requires citizens to file a permit application and record a covenant on their property’s title.
The City of Wheat Ridge has provided homeowners a path to financial independence with an ADU. The option to add a second stream of income from a traditional rental or Air B&B will be a big selling point for the City in attracting investors and new families alike. Feel free to give us a call if you have any questions about the new ADU law in Wheat Ridge, CO.
Types of Accessory Dwelling Units (ADUs)
