Bring Back the California Dream with SB9
Thanks to Senate Bill 9, there are now more ways to maximize your property’s worth and earn long-term income by splitting your lot and building an accessory dwelling unit.
Southern California: sunny and 65° most of the year with the Pacific Ocean breeze just a scenic drive away from where you rest your head each night. Who wouldn't want to live here? That’s exactly why so many locals have been experiencing extreme financial hardship as they struggle to keep up with rising living expenses. According to the Public Policy Institute of California, approximately 3.5 million new homes will need to be built annually in California by 2025 to meet the demand; however, less than 80,000 new homes are currently built every year. If you are a single-family property owner, you may be able to benefit from this rising housing demand by making an investment that paves a future for successful homeownership in California.
Have you heard?
Don’t let the expenses drive you out of living in the dream state of California! There is now a solution that is empowering homeowners of the beautiful state. If you own a single-family zoned property, you may now qualify for a lot split. Thanks to California’s new zoning law, Senate Bill 9, homeowners are now able to make the most out of the land where they reside, allowing them to maximize the financial potential of their properties while maintaining the character of their neighborhood. A homeowner looking to access equity within their property could split their lot to produce long-term income and be on their way to financial freedom.
Some of the ways SB 9 could work for you:
For some, SB 9 enables homeowners to share real estate with aging relatives or adult children to achieve the goal of multigenerational living. Others choose to rent out the space and earn long-term income that assists in mortgage payments and increases each property’s value (by an average of $158,000). Each and every new build that provides long-term rental housing to the market is also providing a resolution for the shortage of affordable housing in California.
What does it look like?
Senate Bill 9 enables homeowners living in single-family homes to have two primary dwellings and up to two accessory dwelling units. An accessory dwelling unit, otherwise known as an ADU, is a structure that can be added either beside your home or as an attachment like a renovated garage. Our team at Multitaskr is so excited about this new zoning law because building ADUs is one of our specialties in the field of home renovation. With over 100+ ADU projects built all over San Diego County, we are dedicated to helping homeowners get the most out of their property and take advantage of the new SB9 lot-split opportunities. Whether the goal is to make more livable space, earn rental income, or simply increase property value, building an ADU or two may be the solution for you.
Check out our ADU catalog to browse the options and designs Multitaskr has to offer.
Here’s how to get started!
With all of this new information, you may be wondering where to get started. Multitaskr has developed a free SB9 tool where you can easily discover if your property qualifies for a lot split under these new guidelines. Use our new SB9 tool today to find out. Then, our team of home experts is here to take on your project design, floor plans, cost estimation, financing, virtual reality, permit processing, project management, and construction of your ADU from start to finish!
So don't give up on the California dream. Instead, celebrate that the state zoning laws are finally empowering homeowners to keep their homes, make financial gains, and reap the benefits of calling California home. Our team is here to make sure you do it the right way with advanced solutions and home experts alongside your journey of taking your power back as a homeowner in California.
If you want to learn more about all things SB9 and see the things to consider before moving forward with a lot-split, click here for a quick read.