Are you having extra space on your property? Then that’s a perfect opportunity for you to earn some good income by building an Accessory Dwelling Unit (ADU). In recent times, we have seen conducive ADU laws and guidelines. Therefore the year 2020 is an opportunity for many homeowners and real estate investors to strongly tap into ADU real estate investments.
To be honest, the population has rapidly increased over the years bringing the housing sector into chaos. So one of the solutions to the housing sector chaos is maximizing on the Accessory Dwelling Units fully.
What is an Accessory Dwelling Unit (ADU) anyway?
An ADU is a room or set of rooms designed, configured and set aside from the primary dwelling house to be used as a separate dwelling unit and is established by permit. They are owned by single-family homeowners. Basically, ADUs are additional self-contained living spaces on the property. Depending on a different location, different terms are used to describe Accessory dwelling units. They include in-lawsuit, in-law apartment, granny unit, granny flat, carriage house, tiny home, tiny house, Casita etc.
Building an ADU to maximize the real estate returns investments
Establishing an ADU on your property will bring in reliable cash flow for any single-family homeowner. It is such an excellent add on to a single family’s real estate investment portfolio. Therefore whenever thinking of purchasing a home, you should also focus on maximizing future returns by building and additional ADU dwelling unit.
Importance of consulting the services of a professional ADU contractors
Another important thing to do is to seek professional ADU contractor consultations such as the SD CCS. These professionals will guide you all through the ADU building process. From designing, permits, preparing the site to the actual construction, they will take you step by step successfully. These ADU contractors have exceptional experiences to tap into. Additionally, they also provide ADU projects financing solutions.
ADUs real estate investment costs lower as compared to the alternatives
The cost of investing in ADUs real estate is significantly low. It is not going to cost you much and this is some good news. Let’s face it, ADUs are small in size and thus they will consume fewer resources building them as compared to primary single-family dwelling units.
The maintenance costs of an ADU property is lower
ADUs are small in size, therefore they use small and fewer house amenities. The cost of maintaining these amenities is significantly cheaper comparing them with the single-family housing unit. The utility and energy bills are very much reduced. Additionally, some of the resources can be shared by the primary dwelling houses. Therefore you don’t have to incur unnecessary expenditures.
Financing your ADU real estate investment project
You can finance your ADU in many ways. You may wish to spend your long-term savings or even talk to a reliable financing partner. The point is, the dream you have to own a property with an ADU doesn’t have to die. You don’t have to make all the payments at once. Actually, some lenders will lend you the financing you need as long as you are creditworthy and make some given small down payments for the property. Again, I strongly recommend to seek the assistance of SD CCS, they will smoothly guide you through the whole financing process.