Generational Wealth – Allow P31 Construction to turn your property into Income Property

Are you thinking of building an ADU in Los Angeles in 2024? If so, you’re in luck! P31 Construction is known for their fast and effective building practices with years of experience in construction.  We pride ourselves as “The ADU Specialist” and “The 90 Day ADU”.  We are here to help you every step of the way to prepare you for generational wealth.  Here are some tips to help you get started on your road to passive income. 

First and foremost, make sure you research the building regulations in the area. It’s important to know what zoning laws, building codes, and permit requirements exist before breaking ground. Doing your homework will help ensure that your project meets all of these criteria and prevents any costly surprises down the line.  P31 Construction representatives can help assist in this area free of charge to let you know exactly the limits of your next project. 

Second, find a reliable building contractor in the area. From permits to building inspections, these professionals will be able to help guide you through the process and ensure that your home gets built correctly. They’ll also be a great resource if any problems arise during construction.  We always recommend getting at least 3 bids for your upcoming project to compare the construction cost.  Not all contractors are created equal but, you will need to look at all aspects of your project.  P31 Construction maintains integrity from beginning to end of your project and future projects to come.  

Third, figure out your budget. Building an ADU can be an expensive undertaking, so make sure you have enough money to cover all of the costs associated with building and maintaining your investment. Talk to a financial advisor about loan options and other financing solutions to help make building more affordable for you.  There are a host of options to help assist in the financial cost of building your ADU.  There are grant programs, low interest loans, and other financing to help you complete your project.  Also, after the completion of your project you may want to place your entire property into an LLC for asset protection as well as for your generational wealth needs. 

There are numerous factors that can affect the final cost of building a ADU in Los Angeles. Here’s a list of additional factors that you should keep in mind:

• Land and excavation – Preparing the land for ADU construction can be a significant cost. In some developments, the land is already prepared for construction works.  Getting a survey is a most to make sure that when we build your ADU we are building within the boundaries of your property.

• House size and shape – A bigger ADU in terms of square footage will cost you more. The more corners your ADU also has, the more money you’ll have to pay.

• Multi Story – Currently, ADU’s can be 2 story buildings.  Additional design and build work are needed which can increase the building costs.

• Type of roof – If you’re opting for specialty roofs, expect to pay more for installation and upkeep than the normal asphalt roofs. Durability is key when selecting a roof for your ADU.  With California being a leader in solar, roofs will need to be able to accommodate the solar panels.  Also, Cool Roofs are normally required due to their efficiency in the area of heating and cooling of your ADU.

• Finishes/fixtures – The quality of the fixtures you decide to install will also affect the overall cost. High-end options like marble floors and granite countertops are costly. Go for materials that meet your budgetary needs and aesthetic appeal.

• ADU design features – Do you want an Internet/TV ready ADU, EV Charging, or Central AC? Additional ADU design features will cost you more money but can greatly increase the value of your ADU.

• ADU appliances – Major appliances like washers, dryers, dish washers, and refrigerators can add significant costs to your budget unless you already have your own appliances.

Finally, take time to enjoy the building process. Building an ADU is an exciting milestone and should be celebrated! Take time to research the latest building trends and find ways to make your ADU stand out from the crowd. 

Whether it’s a unique layout, custom finishes, or appliances that fit your lifestyle, there are plenty of opportunities to make your building dreams come true in Los Angeles. 

Simple Checklist for Building a ADU in Los Angeles

• Create an inclusive budget while factoring in the above points

• Have a survey of your land to double check all boundaries

• Choose the best and the most affordable construction method for your ADU

• Develop the right building plans and designs with your building pro

• Obtain the right building permits and inspections

• Purchase ADU/Home construction insurance

• Begin your ADU construction project

• Book a final inspection of your ADU

• Complete landscaping and other small additions

Why You Should Work with Custom ADU Builders

Building a ADU is a difficult project but P31 Construction makes it look seamless. It requires a lot of planning, research, and, of course, the right building pros to guide you from the pre-construction stage to design & build and project completion. 

While building a ADU from scratch can be expensive, more homeowners are considering custom ADU design & build options. Owning a ADU that is unique is something to be proud of as a homeowner.  Also, when you consider it as an investment, it will pay for its self while allowing you to earn passive income in your sleep.

At P31 Construction, we help you address complex questions associated with building a ADU in Los Angeles, whether you’re breaking ground in the inner city, Gardena, Lawndale, or Encino. With over 30 years of experience in construction, we provide you with creative ADU building ideas within your budget and strive to create a livable space that is not only aesthetically appealing but also functional based on your lifestyle needs. Partner with the leading ADU builders in Los Angeles and break ground in 2024.  Contact Us! 

Good luck building your new ADU in Los Angeles! With the right research, a team of professionals, and budget, building a ADU in this incredible city can be an exciting journey.