Why ADU will be good for you. (Accessory Dwelling Units)
Homeowners build ADUs (Accessory Dwelling Units) for various reasons, including: To generate rental income. To increase a property's resale value and home equity. To create private living spaces for extended family or elderly parents or simply build your dream cave!
Top Reasons
Additional Monthly Income.
- Be A Landlord
- Legally Renting Out Space within Your Home
Multigenerational Living
-Create Room Addition
- Keep Family Together
Downsizing
-Lifestyle Adjustments
Guest Suite
-Better Quality of Life
Increase Property Value
-Increase Net-worth
Convert Existing Space to Livable Area
-Utilize Un-Used Space
Let’s talk about how you can generate income with your ADU. You will be legally authorize to host renters and collect rent at your home. Example: your monthly loan debt would be $1,264 per month, if you took out a loan for $200,000 at 6.5% interest rates. You certainly will be able to rent out your ADU for $2,000 - $3,000 per month depending on your area. Your renters’ income will cover your borrowed mortgage loan and you would also earn additional income. Wouldn’t be nice to earn $800-$1200 per month?
If you had cash to cover the entire ADU project, then great! And imagine taking in $2000-$3,000 in monthly? In 7-8 years, your ADU will be paid off!
We get it. Your parents are getting older, kids moving away and our current housing situations does not accommodate for these growing changes. There are new solutions available now here in California. We are allowed by the state to add addition to our house without hassle. It is our legal right to expand in our very own home.
Create a separate home addition for your kids, mom, dad, brother or sister, and even for your uncle or aunt. 1000-1200 sq ft addition and between one, two or three bedrooms is ample space for an entire family.
Your house is too big! Kids moved away and now you are lonely in this big empty house. What to do? Simple, by creating a smaller ADU for your self would be ideal! You can weep the benefits by renting out the main house. You will still have your property if your kids decide to move back. This is absolutely a win-win.
Let say you are the perfect host. You are always providing care of others. An ADU Guest Suite would be an amazing addition to your home. This will be a telltale sign to all your visitors that you are an amazing person.
Dream of increasing your net worth? The average cost of an ADU is between $200-$300 per square feet and here within southern California, the average cost per square feet house is between $400-$600 per sq ft. Creating an ADU double or even triple your house value.
With the new laws here in California you are legally allow to convert garages, basements, attics, tool sheds, parking covers to Livable ADUs. Feel free to write me, comments