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How to choose the right contractor for your ADU project

How to choose the right contractor for your ADU project If you’re considering adding an Accessory Dwelling Unit (ADU) to your property, you’ll need to find the right contractor to handle your construction project. An ADU, also known as an accessory dwelling unit, is a separate and independent unit located on the same property as a primary residence. ADUs are becoming increasingly popular as a solution to the housing crisis, especially in large cities like Los Angeles, as they offer families the opportunity to generate rental income or provide independent living space for aging parents or adult children. Why is it so Hard to Find a Good ADU Contractor? We

SB 9 California: What It Means for Housing Development

SB 9 California What It Means for Housing Development The recent passage of SB-9, which was signed into law in California in 2021, has opened up new possibilities for homeowners seeking to increase the supply of housing in the state. This legislation allows for the creation of up to two residential units on single-family zoned parcels, effectively allowing for lot splits and the development of accessory dwelling units (ADUs) on properties that were previously limited to single-family homes. What does SB-9 allow? SB 9 allows for two main things: Lot splits: It allows for the creation of up to two residential units on a lot that currently has only one,

8 Ideas for House Hacking

8 Ideas for House Hacking With property prices and interest rates increasing, the traditional American Dream of owning a single family home may seem like a pipe dream. Thankfully, there are still creative ways to afford a home, such as making your property generate income for you. This concept of building financial wealth through property ownership is what we at HOMEPLEX call the New American Dream. In this article we’ll go over 8 ideas to ‘house hack’ your way to home ownership. 1. Buy a duplex, live in half A duplex is a compound of two homes on one property that typically (but doesn’t always) share a wall with another

ADU Los Angeles: Accessory Dwelling Units

ADU Los Angeles Accessory Dwelling Units Los Angeles is considered one of the most viable places to build an ADU. When looking into building an ADU in LA, pay attention to both city and county ordinances. If you reside in the city of Los Angeles you must follow the city’s ADU guidelines. If you live in an unincorporated community of LA county you would follow the county’s guidelines. Building an ADU in Los Angeles In 2021 Los Angeles Mayor Eric Garcetti announced an initiative to give builders and homeowners pre-approved ADU building plans to allow for a faster and less expensive permitting process. You can find those on LA’s Department

California ADU Financing: How to Finance an ADU

California ADU Financing – How to Finance an ADU in California One way California has been working to solve its housing supply crisis is by making ADUs more feasible to build both from a legislative and financial point of view. The ADU bills that went into effect in 2020 made ADU requirements more lenient, and this year, California Housing Financing Agency (CalHFA) started offering a $40,000 ADU grant for California residents, a great opportunity for those looking for an alternative ADU financing option. How Do I Fund an ADU in California? Funding an ADU in California can be accomplished with many different types of financing options including a Home Equity

How to Finance an ADU

Financing an ADU can be a difficult challenge. Learn about all the financing options available, including ADU construction loans, home equity loans, and more.

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