Have you ever given thought to the possibility of converting your garage into a living space that would for years to come, generate a steady income stream? The garage is one place in your home where junk and clutter tend to gather dust. You could be losing money by not carrying out a garage conversion and using the space as rental income!
More people than you think may be interested in renting your garage for several purposes: parking a vintage car, motorcycle, or a four-wheeler; Use it as a storage device. Provision of rehearsal rooms for local groups; or even turn it into a studio. Accessory Dwelling Units are one the easiest and most popular ways people go about garage conversion in Los Angeles.
ADUs commonly called granny flats or in-law units are built as standalone structures or connected to the main house building and share similar utilities. However, while these two similar but different situations seem confusing, ADUs generate steady income flow for most homeowners.
Before starting a garage conversion project…….
Here are a few things you should know
Understand your goals
First, you should set your goals for embarking on the project. Do you intend building the ADU to be leased out to a tenant? or do you just need more living space to increase home value? Each situation is unique, and it is important you clearly define your goal to make the project a successful one.
Local Regulations and Standards for a garage conversion in Los Angeles
As with any other project, it is important to consider the feasibility of the project before it begins. You will need to familiarize yourself with applicable local laws and contact local planning authorities to obtain planning permissions. This is to ensure your garage conversion meets all building, zoning, health, and safety laws. Don’t be let down by the hiccups you face along the way!. Thanks to current laws, garage conversion in Los Angeles is now more possible than ever.
Common legal issues that make it impossible to start the impossible arises from garages built illegally in the first place. Our team at Novak remodeling will be honest with you from the go and tell you what works and what will not.
What would be the cost of financing a garage conversion?
Garage conversions can cost less than you expect. There are of course many factors that determine the price of a full garage conversion into living space.
Depending on the type of conversion, garage conversions include all construction trades; from planning to the foundation to frame, sanitary, electrical, and roof constructions. However, meeting with the right garage conversion contractor gives you an almost accurate estimate of its cost depending on how complex the project is
Garage apartments are on the rise as there is more focus on building smaller and efficient spaces. This demand has created a gold mine not yet tapped by most homeowners.
A garage apartment in Los Angeles could go for as high as $4000 per month. The advantage for you as a landlord is you do NOT have to pay rent for the room as many property owners do; You are already paying for the space that you could use to generate cash inflows.
And finally, the best part about this is… Depending on the terms under which you rent a tenant, you can end the rental if you want and use the space for yourself without worrying about losing the investment.
How you can start a garage conversion
Garage conversions (ADUs in this case) are complex projects that require the expertise and supervision of a skilled garage conversion contractor. This is where Novak remodeling can help.
We are a garage conversion contractor in Los Angeles, California that understands how connected clients are to their homes. As a garage conversion contractor, we offer free home consultations through our hot-line +1(888)510-1055
We are a design and build firm that is your one-stop-shop for complete garage conversions. Our in-house designers will handle designs and plans and submit them to city planning for approval; our engineers and project managers will handle and supervise the whole process.
We work closely with our clients from start to finish of their projects and ensure their investments are well taken care of.