Wake Up For What's Up In 2020 For SoCal.
"Cottage Industry" (pun intended) turned
“Major Growth Industry”
There were six new laws implemented in California commencing on January, 1st, 2020. These laws will change the California landscape, literally and figuratively, for Single & Multi-Family existing and new homes for the foreseeable future.
Like it or not, the time has come. Now for the first time, California property/homeowners can realize significant opportunities and profit from the very land they own beneath their feet. The 2020 California property/homeowner can now turn their single family residence into a triplex figuratively speaking.
Starting with your primary residence you can now convert one the rooms within the existing footprint of your home into a Junior Accessory Dwelling Unit (JADU). All you need to do is provide an exterior entrance to that room, add or share a bath with a toilet and/or tub ad shower and install a modest kitchen/kitchenette (oven & cook-top, sink with hot & cold running water and a modest fridge) and you're in business.
Additionally, you can now even convert your attached or detached garage into an Accessory Dwelling Unit (ADU) or add a free standing ADU, be it a custom ground up
design/build or one of many off-site i.e. HUD Manufactured, Modular, Kit (penalized) aka "Flat Pack" solutions. Several California jurisdictions have also introduced their own "Pre-Approved Plans" and permit free options.
Regardless of what, why or how you wish to progress down this road the path will now be open to you and flow much easier and in a much more affordable way. Lenders are finally wrapping their arms around this budding opportunity. Additionally, real estate developers and investors are salivating over the opportunity to realize even greater ROI than ever before on their real estate portfolios.
So, Wake Up For What's Up In 2020 For SoCal.