There is a huge shortage in the Los Angeles housing sector that has been occasioned by many people moving to the city in search of greener pastures. The increased demand for residential single-family houses is a great opportunity for homeowners who have large unused indoor and outdoor spaces such as garages and backyards.
Building a 1 Bedroom ADU is the perfect way to utilize this extra space and increase your property value. An increase in garage conversions and ADU construction has taken place in Los Angeles, and there is a good reason why.
As a homeowner, you can help solve the current housing crisis in the city and at the same time gain innumerable benefits (which will be discussed below) by putting your money into the hottest property investment trend in Los Angeles – the addition of a 1 bedroom ADU (Accessory Dwelling Units) to your residence.
Explainer: How You Can Gain from Building an ADU in Your Property
With the average cost for a one-bedroom apartment in Los Angeles falling between $1,500 - $2,000(or more), you can lease the 1-bedroom ADU that you construct on your property and earn income passively without much hassle.
As your children get older, they will demand more independence and privacy. For this to happen, they may think of moving out of the family home. If you have an ADU unit on your property, you can move your grown-up children to the house and get to keep your loved ones close.
You may have elderly relatives who require special care but who are not keen on moving to a retirement community because they want to stay close to their loved ones. Remodeling the main house to suit the requirements of an elderly person may be expensive and impractical, and this is where a 1-bedroom ADU can come in handy.
You can easily renovate and outfit an ADU to reflect the needs of an elderly loved one. This will allow your elderly relative to live in close proximity to those they hold dear, and in the process, you will save money that you could have otherwise used in a retirement home.
An ADU is a home improvement feature that not only improves the aesthetics of your property but also increases the amount of usable space in your residence. As an additional house, an ADU will also greatly increase the value of your real estate portfolio.
Key Things to Remember If You Are Considering Putting Up a 1 Bedroom ADU in Los Angeles
The construction of ADUs is usually subject to local zoning laws and restrictions. Additionally, your local homeowners’ association will also have a say on if an ADU can be built on your property.
Before putting up an ADU on your property, it is important to understand the local zoning laws and acquire the pertinent permits. If you are looking to build a functional and curb appealing 1-bedroom ADU that conforms to all laws, regulations, and building codes, it is best that you consult the premier ADU contractor at Los Angeles ADU Builder.