A garage conversion might seem like an excellent investment, but there are several factors to consider before committing to what could be a major project. Here are a few questions to ask if you’re thinking about a garage conversion in Los Angeles. EcoSmart Builders helps homeowners perform successful garage conversions in Los Angeles, helping them construct exceptional, environmentally dwellings for long-term use.
Any time you think about taking on a big project, you likely consider whether the expense, burden, and potential disturbances to your lifestyle will be worth the outcome. When it comes to garage conversion, assessing the worthiness of the undertaking can be difficult, because you won’t necessarily realize the financial and personal benefits for years. The following questions might help you better understand what to expect when undertaking a garage conversion in Los Angeles.
How do you plan on financing the project?
This might not be an urgent matter if you have the money to pay for a garage conversion in Los Angeles out-of-pocket, but most of us will require a loan to help fund the construction of a supplementary dwelling.
Refinancing is also a viable option for property owners with sufficient equity. If you have a steady income, a renovation loan might be the right call.
Have you performed the proper planning and permitting procedures?
The critical importance of this step cannot be overemphasized. If and when you ultimately sell your home, assess your property value, or try to get a mortgage, you must have the correct documentation that confirms your property is in full compliance with laws and ordinances. The fines and penalties for failing to have the correct approvals can be severe.
How much should you charge if you decide to rent the unit?
EcoSmart Builders takes pride in helping Southern California homeowners construct exceptional accessory dwelling units for rent or personal enjoyment. For more information about garage conversion in Los Angeles, please visit our information page.