According to a recent study conducted by Market Watch, Homeowners in the United States are currently sitting on a record $6 trillion in equity! This staggering amount is 21% higher than the pre-crisis peak in 2006 and has given many homeowners the flexibility to do many things. Our clients have taken advantage of this equity and have paid off student loan debt, traveled the world, and have made improvements on their homes.
One of the ways to maximize the value of your home and tap into this equity is by building an Accessory Dwelling Unit (Granny Flat, In-law Unit). In Los Angeles County, most Single Family Homeowners can “build by-right” so no additional permits are needed and the cost to build is relatively affordable. We have seen our clients use granny flats for music studios, creative space and as rentals. Not only have our clients added ADU’s to their homes but we have as well.
In 2018 alone, our investment team has successfully added 3 ADUS’s on our own projects. Not only do we have the expertise in structuring the financing but also the knowledge on how to create the space.
Have more questions? Give us a call or shoot us an email… we will be working through the holidays 😊