Have you decided that you could use an ADU (Accessory Dwelling Unit) but aren’t sure how you are going to pay for it? HFS Financial is here to help you find the ADU financing you need to build the perfect extra space! No matter what you are planning to use the ADU for, as long as it is on your primary property, we can help you finance your perfect addition.
What Is an Accessory Dwelling Unit?
An ADU is an abbreviation for an accessory dwelling unit. This can be any type of extra living space that is on your property. A garage apartment, a pool house, a mother-in-law suite, a granny flat, a tiny home, etc., are all examples. If it is on your property and you can live in it, it can be placed in this category.
How Can I Use an ADU?
Since the term is so encompassing, you can use an ADU in a variety of ways. Many people use them as guest homes for relatives or friends who may stay for any length of time. They can be rented out as apartments for extra income as well. You may need a space to create the ultimate man cave, she shed, home gym or office. The sky’s the limit.
Where Can I Build an ADU?
The only catch to dreaming of all that your ADU could be is that it must be located on the property of your primary residence. If it is not located on the same plot of land, HFS Financial will not be able to help you finance the construction.
Outside of that, we have already covered an over-the-garage apartment, barn, shed, or even a tiny home type structure. So long as it is on your primary residence’s property, you can build it there. And financing for an ADU couldn’t be easier.
When Should I Build an ADU?
The best time to build an ADU is whenever you need it. You don’t want to put things off and then immediately realize one of your parents needs more supervision. You also don’t want to be in a position (like way too many of us were when the pandemic hit) where you need a private office space to work, and another building location close by would be ideal. Get started on your ADU financing and construction whenever you are ready.
ADU Financing with a Personal Loan?
While there are other ways to find ADU financing (such as using a credit card or refinancing your home), a personal loan is the best way to go. Using HFS Financial will allow you to get the money for your project upfront. This will enable you to pay your vendors and contractors when they ask instead of having to wait on a bank.
HFS Financial is here to help. Our 60-second rate checker can let you gain insight into your options without impacting your credit score. Reach out today to get started on your ADU. With HFS Financial, “You Dream It, We Finance It.”