Small Potato Can Finance, Design and Build ADUs in California
LOS ANGELES, April 12, 2018 (Newswire.com) - Small Potato is a California-based company with offices in Arcadia and El Segundo that can finance, design and build ADUs. The company provides a turnkey solution for ADU conversion that minimizes stress on the homeowner.
Once homeowners sign a contract and pay an initial deposit amount of $3,000, the company will start work on the loan and architectural planning. The loan process generally takes 30 to 45 days, while the design and drawing submission could take an additional six months.
$3000 & 8 Months. Turnkey ADU. Finance, Design, Build by Small Potato.
Zoey Zhao, Co-Founder
After the loan application and premit application is approved, the construction work will start and take about two months to complete. Services offered by Small Potato come in four different packages:
- Package 1 — Less than 450 SQFT | Choices: Studio & 1Bed1Bath
- Package 2 — 450-600 SQFT | Choices: 2Bed1Bath
- Package 3 — 600-800 SQFT | Choices: 2Bed2Bath & 3Bed2Bath
- Package 4 — Greater than 800 SQFT | Choices: 3Bed2Bath
Homeowners can rent out the newly added unit for long term or short term such an Airbnb rental. Also, they can use the property as an in-law or guest house. The project can result in about $120,000 appreciation in property value and around $1,400 additional monthly income.
The Benefits of Adding an Accessory Dwelling Unit (ADU) in Your Backyard
Accessory dwelling units (ADUs) have been used by many Americans during the 50s and 60s to ease the mortgage payment and earn extra income. However, restrictive zoning regulations in most states had limited or altogether banned them, usually to encourage single-family neighborhoods.
Recently, there has been a change in the attitude and perception towards small dwelling units chiefly due to the affordable housing crisis. A lot of states, including California, have passed laws allowing people to add ADUs to their properties. In this post, Homeowners will learn what an ADU exactly is and how investing in one can be an excellent decision.
Why Adding an ADU to Your Property is a Good Idea
ADUs are dwellings with a separate living area and entrance that are either attached or detached from the main house. They are known by many names: backyard cottage, granny flats, in-law units and secondary units.
ADUs are a really simple idea that can make a house more affordable for both the property owner and the tenant.
ADUs are an innovative, affordable, effective option for making housing affordable in California. The State of California has implemented two new legislative initiatives that allow homeowners to add ADUs to their properties. They are touted as the answer to the housing crisis that has gripped the U.S.
Adding an ADU is a great real estate investment decision that will give homeowners additional square footage and result in property value increase. Homeowners can convert their garage or backyard into living quarters and then rent it out (or sell it) to earn extra income. Homeowners can also design an ADU in which they can live themselves and rent the main house.
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