This blog aims to inform San Diego residents about the benefits of ADUs and why now is the perfect time to invest in this opportunity and convert your unused yard or garage space into a valuable income-generating accessory dwelling unit (ADU).
By: Eliana Lerma
If you live in San Diego, you may have noticed a spike in rental prices. This may seem like something other than good news, but if you own property and are looking for new ways to generate extra income, it really is. Rent is at an all-time high in San Diego county. This could be an excellent opportunity for homeowners who want to benefit from this intelligent investment by building an Accessory Dwelling Unit to generate additional monthly income by leasing the new unit.
Multitaskr can help you finance, design, plan, and build the best ADU option available to maximize your property value and gain equity while having a new income stream.
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Types of ADUs
When thinking of building an ADU, it’s essential to understand the available types. ADUs come in different styles and sizes, and each of them has its unique features, benefits, and challenges. In this section, we will explore the most popular types of ADUs to help you determine which one is right for you!
What are some ADU benefits?
ADUs can provide property owners extra income: Building an ADU isn’t as expensive and time consuming as building a primary dwelling unit, and the potential rent generated from the ADU is proportionally greater when you compare the income per square foot. ADUs tend to lease quickly and do not require as much maintenance.
ADUs are convenient to manage: Given the unit’s proximity to the main home, an ADU is easier to manage than a separate rental property or apartment complex. The homeowner can be the property manager or pay a small management fee for those services.
ADUs make your property more valuable: Most prospective homeowners are willing to pay more for a home with an ADU on the property because of the income value that extra space has the potential to bring. Read here for an in-depth study on ADUs and property value.
ADUs can house family members such as aging relatives, adult children, and caretakers: Many of our clients find ADUs to be an investment utilized by loved ones. Garage conversion ADUs are a popular option to keep the family close.
Think about it, if you finance with our 100% ADU financing options and qualify for 12 deferred payments, this unit will start generating rental income as soon as the ADU is built without having to pay out of pocket.
Perhaps you’re wondering how much income you can generate from your newly built ADU? Many renters choose to pay more for an ADU than a traditional apartment building because there is typically more privacy, higher security, and a separate entrance to their living space, making it a more comfortable living experience.
ADUs can generate a minimum of the comparable apartment prices in your zip code, so you can use that number as a baseline rent price. The amenities your ADU offers, like washer and dryer access or private outdoor space, can increase the amount you list the unit for to generate even more from your ADU.
Now that you know the benefits of ADUs, you have everything you need to see if this is the right decision for your property investment goals.
If an ADU is a project you see in your near future, we are here to make the process as easy and enjoyable as possible.
Embarking on an ADU Construction project like this shouldn’t cost you a fortune. That’s why we offer free project consultation with one of our ADU experts, who will help you navigate the complicated zoning rules, building regulations, and city permits, talking to architects, engineers, inspectors, and sub-contractors, among all different people involved in the process to build an ADU in San Diego. At Multitaskr we make ADUs easy; we manage the entire ADU process for you. From zoning, financial feasibility, and Architectural Design to city permits and construction. Plus, we offer 100% ADU financing, 24 deferred payments, and a customer-centric experience so you can focus on your life while we do the heavy lifting for you.
Getting started is free and requires no commitment on your end; book a 15-minute consultation to find out what’s possible on your property and see if you qualify for our Build Now, Pay Later Program.
Book a Free Consultation!