May News from The Napa Sonoma ADU Center
All About the $$$
We’ve talked about this before, but it’s worth talking about again -- accessory dwelling units are no small financial investment, and many folks wonder where to even begin with financing their ADU. Add to that the fact that many of us have some teeny tiny “mental blocks” -- as you might call them -- when it comes to money, and things can get tricky pretty fast!
If you relate to this at all, then we have some good news for you: We have excellent resources to share to get you “unstuck” with financial planning for your dream ADU project. And better yet, we are going to tell it to you straight when it comes to realistic costs for an ADU build. We know you will be most successful with your project if you have a realistic understanding of your estimated budget from Day 1.
So let’s dig in -- together!
→ First, don’t forget to take advantage of our handy ADU Calculator tool, which allows you to input all kinds of details about your ADU plans in order to arrive at an estimated budget. You can input details like:
the city or county you’re in
the type of ADU you’re pondering
the level of construction quality you want to use
the type of site where you’ll be building
and you can even include details about your financing plans.
From there, you’ll get an output of helpful intel including estimated budget for the ADU project -- and details like monthly expenses (including any loan payment), plus the number of years before you will see a return on your ADU investment -- and much more.
→ Second, check out this month’s guest blog post from the company Maxable, where they share some excellent pointers on 5 Hidden ADU Costs You Should Know About.
→ Third, review the Casita Coalition’s comprehensive ADU finance guide for homeowners in California. The guide covers both conventional financing options that aren’t unique to ADUs and newer financing strategies that are specifically intended for ADUs.
→ And finally, if you haven’t already -- watch our on-demand webinar, How to Finance Your ADU, where local experts walk you through the same common ADU financing strategies outlined in the Casita Coalition guide. Those same experts are also available to you for 1:1 help if you reach out to them directly -- see our Vendor Registry for their contact info!
If you’ve got a sense of your estimated budget and you’re ready to get going, feel free to sign up for one of our customized ADU Feasibility Consultations, where we can walk you through likely cost drivers for your particular ADU project and solutions to cut costs.
We’re here to help you overcome any obstacles to your ADU success, whether it’s figuring out where to begin with financing your ADU or getting kickstarted on the actual build itself! Reach out to us anytime -- we can’t wait to get started.
Warmly,
The Napa Sonoma ADU Center
Neighbor Spotlight:
ADUs have been legal in California since 2017, and have gained popularity during the COVID-19 pandemic as a unique housing solution for homeowners to house family members, seniors to age in place, and people to live near their workplaces. Watch the stories of some of California's ADU adopters.
“[An ADU] is an investment in your and the community’s future.”
Give to Napa Valley Community Foundation
If you would like to support our nonprofit program’s continued efforts to help homeowners in Napa and Sonoma Counties, please feel free to do so at this link (to our fiscal sponsor, Napa Valley Community Foundation) where you can designate it to the Napa Sonoma ADU Center.