What is the CAL HFA $40,000 ADU Grant Program? The California Housing Finance Agency also known as CalHFA is currently offering homeowners a $40,000 grant to help build an ADU on their property. This is a grant so you don’t have to repay it! The ADU grant will provide up to $40,000 towards pre-development costs which include items like: Architecture and Engineering Fees and Permits Property survey Soils test The grant will not pay for costs like construction materials and labor. We believe this an amazing opportunity for California homeowners wanting to build an Accessory Dwelling Unit (ADU) on their property. Who is Eligible for the Grant? The ADU grant is available to homeowners that meet the following criteria: Maximum annual income of the borrower cannot exceed $180,000 for Los Angeles County residents and $235,000 for Orange County residents You must be the homeowner and be living in the home Investors not eligible You must be on the deed You will live in the main house during construction of the ADU You will live in either the main house or the ADU after construction
Accessory dwelling units make sense for a variety of reasons, so the realquestion isn't "why?", it's "how?". New legislation hasmade it possible for most properties in California to build ADUs. Regardless oflot size, current density, or zoning, you are likely allowed to build some formof ADU on your lot. So, how do you pay for it? With interest rates at all time lows, going through arefinancing, taking out a Home equity line of credit or constructionloan allow you to build your ADU, while cash flowing your new rental. Not a rental? Compare these monthlies to what you would spend on officespace, or an apartment for a family member or friend. We have built ADUs forparents, young adult children, grandparents, rentals and just for more living space. Your ADU may start as a rental and wind up being a retirement property. Adding a unit not only increases your property value, but it will set you up for options now, as well as in the future. ADUs add flexibility.
The Carriage House. From "The Fonz" on "Happy Days" to The Braverman's in "Parenthood", the apartment over the garage has been a popular TV home. With new laws and legislation, this sensible solution is now easier than ever to build. Converting a detached garage is one of the most popular and cost efficient ways to add an accessory dwelling unit to your property, but if you really want or need that garage, this is the way have both. "Is it more expensive than converting your garage?" Short answer, yes. In order to build over your garage you must have a good foundation, proper footings and a unit that is in good repair. Going this route could mean tearing down your current structure all together. However, the potential rental income plus the increase in property value makes this versatile unit very popular. For more information on how to convert your garage visit our Garage Conversions web page.
