Constructing an ADU requires planning your expenses carefully. The last thing you want to do is start ADU development and realize that you can not afford the project. That is why you should use an ADU cost calculator to budget out your project and get an idea of how much it will really cost you.
Why You Need An ADU Cost Calculator
An ADU cost calculator can help you get a better understanding of how much your project is really going to cost you. With a general idea in mind, you can go about finding ways to cut costs and knowing where it is okay to splurge a little. You can also see whether or not your design plans are feasible based on your finances.
Where To Find An ADU Cost Calculator
Levi Design Build offers an excellent ADU cost calculator to help you get started on your project. You can choose between a garage conversion ADU calculator or a regular ADU cost calculator.
All you have to do is answer a few questions like:
- Zipcode
- Type of lot ADU is on
- Type of ADU
- Number of floors
- Approximate number of square feet
They will take that information and give you a general estimate of how much your ADU will cost. They can then also explain that cost to you and help you find ways to make it more affordable if needed.
Financing An ADU
After seeing how much your ADU is likely to cost you, you may get nervous about how you are going to finance it. Luckily there are quite a few ways to finance your ADU including:
- Using your savings
- Asking friends and family for support
- Cash-out refinance loan
- Home equity loan
- Renovation loan
Levi design-build can even help explain these different financing options to you to help you come up with the best one for your project.
You can also think about all the extra income you make after building the ADU if you decide to rent it out. It will practically pay for itself in no time!
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