It’s no secret that the housing crisis in America has left many people unable to afford a home. The high living costs, stagnant wages, and skyrocketing rent prices have all contributed to this growing issue. ADUs (accessory dwelling units) is one way for homeowners to make their property more livable without significantly increasing their mortgage payments. This blog post will explore the steps involved in building an ADU with CES4 from concept to construction!
What are ADUs?
ADUs are small homes that can be added to the back of an existing property. They’re often called “granny flats” because they provide a living situation for aging family members who may need some assistance but don’t necessarily require nursing home-level care. Depending on how much space your ADU needs and where you live, you could rent it out or use it as guest quarters for visiting friends and relatives.
There’s no single way to fund ADU construction; homeowners have used grants, loans from their bank or credit union, personal savings/investments, crowdfunding campaigns like Kickstarter (or similar), renting the ADU itself during construction. Hence, there is revenue coming in while work takes place, or of these methods combined! If you’re interested in learning more about building an ADU, the following steps are critical points to consider:
Determine your Needs
What are you looking for in an ADU? It can be used in many ways, including as a rental property, guest quarters for visitors or family members, income-generating home office, etc. It’s important to consider your needs and what you’re looking for from this investment before going through building one. Are you hoping to increase profit margins? Do you want a place where you can go to get away from the hustle and bustle of life in an urban area? Asking yourself these questions will help you determine what your needs are.
Find a Property with Appropriate Zoning
Zoning laws vary by city, so it’s important to research how they work where you live before buying property for construction. You’ll need to find a property that has the right zoning for your ADU; it may be in an area where you can build one, but how large is it allowed to be? What are the setbacks from neighboring properties and roadways? Is there enough parking space onsite, or will you have to get street permits as well? It’s important to consider these factors before making any decisions.
Figure Out How To Finance Your Project
There are many options when it comes to financing your project. Some homeowners opt to go with a private lender if they have good credit scores and plenty of cash saved up themselves, while others rely on grants offered by their city government. If you’re planning on using a loan service instead of taking out a loan yourself, you should speak to a financial professional about what options are available in your area.
Get Permits from City Hall
Depending on where you live and the size of your ADU, and any other amenities it may have (i.e., deck), there will likely be specific permits required for construction. Before starting work on-site, make sure that all permits have been filed with city hall, so nothing is held up later down the line! You don’t want to pay money or waste time going through this step twice – trust me! It’s better to plan before getting started if possible.
Secure Construction Financing
Once everything has been approved by local authorities and building can begin, secure financing a lender or grant service to help you get a loan in place. Please work with your lender to ensure that all of the paperwork and documentation they need is collected so nothing will be delayed when it’s time for construction!
Once everything has been approved by local authorities and building can begin, secure financing a lender or grant service to help you get a loan in place. Please work with your lender to ensure that all of the paperwork and documentation they need is collected so nothing will be delayed when it’s time for construction! Once funding falls into line, start building – enjoy seeing something come together from concept to reality.
This blog post has provided you with the steps to building an ADU. There are many options available for homeowners and renters, but before you decide, it is important to consider what type of lifestyle suits you best.