Updated over 4 years ago on . Most recent reply
ADU's in Los Angeles? Thoughts? Experience? Lets hear it!
I am wondering what input everyone had on ADU's. What are the benefits? Complications? How would utilities work for this? I want to hear it all...
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#2 House Hacking Contributor
- Real Estate Agent
- Los Angeles, CA
I built one from a garage and lived in it for almost two years.
It depends on how far you want to go with it. I made mine all electric so I didn't have to split the gas. I didn't split the water but that was because of budgeting reasons.
The benefits are obvious: make extra income. The complication is that appraisers aren't giving full value. The costs to do the conversion is between $75K-$100K and on a recent appraisal for my house hacking client he got $20K for the ADU but then loss $10K for not having a garage.
On my latest refinance, we received about $45K for my ADU, which is the highest I've seen for the San Fernando Valley.