Poolside ADU Helps Long Beach Homeowner Pay Mortgage

When Terance bought a new home in Long Beach with a detached 2-car garage, he immediately saw an opportunity to turn the garage into extra income. With Revival Homes’ help, Terance’s vision is now a reality.

Making the Math Work

Before Terance first met the Revival Homes team, he already had a detailed project plan and a clear use for his ADU. Knowing that he lived close to many popular beaches in southern Los Angeles County, Terance planned to use the ADU as a short-term rental.

Additionally, Terance knew that building an ADU could add value to his home above and beyond the cost of construction. Revival Homes used its Big Data model to help Terance forecast the gain in home value that he would likely see by converting the garage into an ADU, finding that it could add over $150,000 to the home’s value.

With a clear, fair bid in hand from Ryan, one of Revival Homes’ strongest partner contractors, Terance was nearly ready to get started. However, he needed to secure project financing first.

That’s where Revival Homes added immediate value. A Revival Homes ADU expert analyzed Terance’s finances, recognizing that since he was a new homeowner, he needed financing options that could work even with relatively little home equity. Revival Homes found that Terance was likely to qualify for several HELOC (home equity line of credit) options from a network of Revival Homes’ partner credit unions. After Revival Homes connected Terance to a partner credit union, Terance secured the HELOC from the credit union, enabling the project to move forward.

The End Result

With financing in hand, Ryan was able to get construction started. He quickly created a project proposal that resulted in a comfortable, well-designed ADU that met Terance’s budget. Only four months later, the ADU was complete and ready for Airbnb!

As with all Revival Homes ADUs, Terance’s casita makes full use of its 400 square feet. When you walk into the space through glass double doors, you’re met with a cozy living room and study area opposite the kitchen. The kitchen is equipped with modern, stainless steel appliances and neat, white cabinetry. The kitchen includes a stacked washer and dryer, another selling point to someone looking for a vacation rental. The ADU is located poolside, further increasing its appeal.

Terance has already started renting the ADU on vacation rental sites. In his first month, he generated over $2,200 in rental income, helping him pay his mortgage.

Revival Homes Has the ADU for You

Revival Homes is California’s one-stop ADU shop. We partner with our customers through every step of the process: project planning, architectural plans, permitting, construction, and financing.

Ready to get your ADU project started? Book your free consultation with a Revival Homes ADU expert today!