How to Get Monthly Income From Your Backyard
Owning a backyard costs money. Not only do you pay to have that space, but you also have to shell out for preservation and maintenance. Fortunately, that little parcel of land can also be the answer to your financial troubles! With an ADU you no longer have to spend money on your yard, just make some cash with it.
Backyard Construction in San Diego, It can build equity, significantly boost your property’s value, and generate monthly income. Most home improvement initiatives can’t do that. In fact, the list of home improvement projects that decrease resale value and drain homeowner’s personal savings is far too long, but ADU additions are different.
Due to the housing crunch in major metropolitan areas, cities around the United States are relaxing zoning codes and creating new housing laws to deal with the shortage of rental properties. In Los Angeles for example, it’s now legal to turn your garage into an apartment or build an ADU in your backyard.
In LA, ADUs are not seen as separate properties, but rather an extension of a larger nearby home or property. For this reason, they are frequently used to make income from rentals. If renting isn’t of interest to the owner, they will most likely use it to house a family member.
But given that the average monthly rent for a one-bedroom apartment in Los Angeles in July 2018 was $2,209, according to Rent Jungle, converting an existing outdoor building into a living space, or even building one from scratch, is a real estate investment worth consideration.
Every year, thousands of homeowners across the United States calculate that the long-term benefits of accessory units, including substantial rental income potential and the flexibility to cheaply house aging parents or adult children, outweigh their steep upfront costs and ongoing maintenance requirements.
So, whether you’re looking to renovate an older house or build equity in a new construction home, an accessory dwelling unit is highly likely to add value, versatility, and verve to your little patch of ground, earn you passive income, and save you tons of spending by helping someone avoid the purchase of a separate home.
ADU Construction in Los Angeles is incredibly convenient, they are the perfect flat for young adults, small families, students, and retired seniors. Tiny and incredibly compact, an ADU has all the privacy and comfort of an apartment but it is cheaper and easier to take care of. For more information about building your cozy backyard house, contact us at (310) 974-3174 or schedule a free consultation.