Why is now a good time to build a Granny Villa?
Orange County is faced with a housing shortage, and affordable housing is very hard to come by. Average rent for a condo now costs over $2,000 a month. Between senior parents on a fixed income and young adults entering the workforce and unable to afford rent, multi-genertional living is the new normal. For senior parents requiring assisted living, costs can range from $3,000-$10,000 a month! Through financing, you can expect your Granny Villa to cost $500-$1,000 a month, and at the same time, add value to your property.
A Granny Villa can also provide the unique opportunity to own a rental property in Orange County, where the average home cost is now more than $700,000.
How big are the villas, and how much space do I need?
Our smaller layouts are about 400 sq. ft. in size. In terms of footprint, you would want to have a space that's about 25 x 25 ft, or 39 x 17 ft. We will measure the space and make recommendations during your consultation. If you have space, villas can reach up to 1,000 or even 1,200 sq. ft.
Isn't it very difficult to add utility connections? What about zoning and city requirements?
In an effort to address the state-wide housing shortage, California recently passed Senate Bill 1069, making it much simpler to build an Accessory Dwelling Unit (aka ADU or granny flat) on your property. Taking effect January 1, 2017, this bill includes reduced parking requirements, reduced fees for utility connections, and reduced permit costs and approval time. You can read the entire ADU memorandum from the California Department of Housing and Community Development here.
The team at Granny Villas handles all necessary work with the city and county, including permits and plan check.
What does it cost, and how can I finance my Granny Villa?
For design services only, pricing is based on a flat fee, and not inclusive of city fees. Design services typically range between $18,000 - $22,000, inclusive of all architectural and engineering plans.
Including construction, finished, and city costs, the all-in cost of adding a Granny Villas can range between $250-$350 per square foot, depending on finishes and land preparation needs. We work with a variety of partners that can help you make the best choice for financing your Granny Villa. Most clients will utilize a cash-out refinance, however a traditional HELOC can also be a good option. Let us know if you'd like a referral to one of our financing partners.
Are Granny Villas "tiny houses" or "prefab" homes?
Neither! While Granny Villas are small, they typically range from 400sq to 800sq. Tiny homes are about half as big. Tiny homes are built on a trailer frame, and prefab homes are built remotely and then delivered. Granny Villas are fully constructed onsite with wood framing, and on a laid foundation. While the time to completion is similar to a prefab home, constructed homes last longer, and add more value to your property. It also also for more customization, such as adding a walk in closet.