Extra Living Space
Let’s face it: we all come to a point where we wish we had more space in our house. Whether it’s the desire for a guest bedroom or the need for your parents or grandparents to live closer to you, there comes a time when you sit down and consider your options.
The old way of solving the problem was to buy a new home and move. But that is a huge hassle; disrupting your family is no fun, and you should only move if you really know it’s the right decision for you.
If you like your current neighborhood, and like your house but need some additional space, a garage conversion may be a great option.
Imagine if your garage had a bedroom, a kitchen, a bedroom, and a living space? What would you do with it?
The difference between an addition and an ADU garage conversion is the fact that an ADU is a standalone apartment. In the former case, you would be adding space to your house, but it would just be an extension of your current home. In the latter, your new garage would be a separate apartment.You could use this for your own family, or you could rent it out. Or you could do both, just at different times, depending on your needs.
A garage conversion gives you options.
If you don’t currently use your garage, it is wasted space that could be earning passive income for you. But even if you do, you can still park your car in the spaces in front of it, and turn the garage into an ADU.
You should ask yourself the question: how much do I really need that garage space for my cars? Is that the optimal use of valuable space?Because if not, you could invest in a converted garage, rent it out to tenants, and start earning thousands of dollars per year (depending on local rental markets).
Garage conversions are far less expensive than adding a standalone unit for obvious reasons; you don’t need to build a new structure.With lower capital requirements, it is easier to get financed and move forward on your Not to mention the increase in home value. If you decide to sell your home at any point, a legally converted garage could boost your home value between $100-200,000!
The bottom-line: garage conversions make financial sense.
When you convert your garage, you are increasing the total housing stock in your community. This means that rents will go down slightly, and there is a brand new option for a tenant looking for an affordable option.Garage conversion ADUs are also smaller than typical apartments, which means that they can make your neighborhood more affordable for ordinary people. Think artists, teachers, non-profit professionals, and small business owners; all of the people who are currently priced out of California real estate.One garage conversion is a small step, but imagine if everybody in your neighborhood converted their garage. Suddenly you are joined by a whole community that is working together to make a positive difference.And if those garages fill up with individuals and couples in their twenties and thirties who can afford to live in your neighborhood again, imagine the amount of youth and vitality that you will be welcoming into your community. New ideas, diverse mindsets, and maybe even new babies on the way!Converting your garage isn’t just about you. It’s about helping the new tenants that you might rent from, and helping add housing in California that we so desperately need.When you convert your garage, you’re joining a movement to help create a positive future in California for everybody.