Accessory Dwelling Units - Financing, Estimated Costs, and Potential Rental Income
Are you looking to earn extra income by building a granny flat - also known as an Accessory Dwelling Unit (ADU)? Adding an ADU to your home by converting a garage into an apartment or installing a tiny home on your property has never been more popular. In this episode Paul meets with mortgage loan originator Marianne Caprino from Dignified Home Loans to discuss financing options, estimated costs and potential rental income in Ventura County, CA.
Check out the full episode on Paul’s YouTube channel, @PaulWardFarmTalk.
Related Links
Marianne Caprino email marianne.caprino@dignifiedhomeloans.com
Marianne Caprino cell (805) 340-6659
Accessory Dwelling Units in California
What you'll learn in this episode:
0:00 Marianne Caprino introduction
0:43 Why Accessory Dwelling Units (ADUs) are popular in California right now
1:07 How to fund an ADU with Dignified Home Loans
1:41 Types of ADUs
2:24 Estimated costs for creating different types of ADUs
3:14 The process for securing a loan for an Accessory Dwelling Unit
4:01 Interest only loan for the first 12 months
4:52 After 12 months the loan converts to a 20-30 year fixed loan
5:34 Estimated rent for an ADU in Ventura County
6:11 Homeowners Associations and Accessory Dwelling Units
7:11 Solar and ADU
8:19 Tiny homes as accessory dwelling units
9:03 Increasing the value of your home
9:32 Preferred vendor list
10:02 Popularity of ADUs
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Have ideas for future episodes? We'd love to answer your questions - leave a comment! For any home buying or home selling needs in the Ventura County area of California, please reach out to Paul@HomeAndRanchTeam.com or visit www.HomeAndRanchTeam.com
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