All About ADU Grants In California
What is ADU?
ADU or the
accessory dwelling unit is a smaller, independent dwelling unit located on the
same property but as a stand-alone single family home. ADUs are known by different
names – accessory apartments, secondary suites, and granny flats.
Accessory
Dwelling unit is an extra living space on your property and these spaces can
add value to your property and provide rental income. When you are working out
the various options for Granny Flat Builds In
California, it is
important that you consider its financing options as well through loans or ADU
grants.
What are ADU grants?
ADU grant
program is provided by the government with the objective to create more housing
units in California by providing grants or pre-development costs and
non-recurring closing costs related with the construction of ADU.
The ADU grant
program provides up to $40,000 of reimbursement per qualified homeowner who is
ready to build the granny flats on their owner occupied property.
Who is eligible for the ADU grant?
All the
homeowners across the fifty-two countries in California who meet the income
requirement criteria are eligible to use this grant to help in the funding of
their granny flat.
What does the ADU grant covers?
ADU grant covers
all the pre-development and non-recurring closing costs related with the
construction of the granny flat. Pre-development costs are the costs that
include site preparation, architectural designs, cost incurred for taking the permission from
authorities, soil tests, impact fees, survey costs of the property and power
utility reports.
Are you eligible for ADU grant in California?
For qualifying
for the California ADU grant program, you first need a construction or
renovation-type loan, as the program is intended for homeowners who need to use
financing for the project. For qualifying for ADU grant in California, it is
important that the
1.
Property is owner-occupied
2.
Income must fall within the
limit of your country
3.
Property must be the single
family home or 2 to 4 units.
The ADU Grants in California are intended
to help low to moderate income homeowners to build their granny flats without
any hassle. Work with the professional ADU expert to know about the ADU grants
and financing options.
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