If you think constructing an accessory dwelling is too costly, you should take the long-term value such a strategy could add. Accessory dwelling units (ADUs) can enhance the quality of your life in numerous ways. You could generate extra income by leasing to a tenant and add considerable value to the rest of your property. While the construction of an ADU might seem like a huge undertaking, it may be one of the most lucrative investments you’ll ever make in your life.
Here are some of the ways your ADU can pay dividends in the coming months and years :
- Rental property. In California, housing is at a premium. Constructing an ADU for tenancy can generate steady income for years. Best of all, there are incentive programs that can further lower the cost of construction if you build an ADU as an affordable housing option. In California, you may qualify for a $50,000 forgivable loan if you commit to renting the space to a low-income tenant for three years
- Increase the value of your home. Building an ADU offers an excellent return on investment even if you do not rent out the space. For a relatively minor initial investment, you can significantly increase the value of your home, particularly if you add a detached ADU.
- Extend your living space. ADUs can make your existing residence more spacious and comfortable. If you have family members who you’d like to keep close yet offer privacy, an ADU is an excellent option. Though it must have the required amenities for a habitable dwelling, you could also use it as an entertainment room or home gym.
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Add valuable workspace. Are you thinking of starting a business? A workspace or office is a fabulous use of an ADU. It adds value to your property while facilitating an entrepreneurial effort. Cresttel helps California homeowners construct beautiful, efficient accessory dwelling units on diverse properties. If you have a property in San Diego, Los Angeles, or in any city in California, contact us today for a consultation.
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