CU 2.0 sponsor
The one-stop shop for ADUs in Southern California
Revival Homes helps people build accessory dwelling units (ADUs) in Southern California. Their ADU construction loans help homeowners create a new living space on their existing property. The loans don’t require a mortgage refinance; in fact, loan amounts take post-construction home value and rental income into the equation, allowing for larger loan amounts. This is key, considering that since California has reduced restrictions on building ADUs to alleviate the housing crisis, financing ADU construction is the biggest hurdle to building them.
ADUs are an increasingly popular and useful home improvement project. The lack of affordable housing in California has driven up demand for smaller rental properties. Higher interest rates have cooled the real estate market. Yet the demand for more living space hasn’t slowed:
Families are moving back in with each other, whether children moving back in with their parents, or parents downsizing after retirement.
Affordable housing is hard to come by, and many adults don’t want multiple roommates.
Guest houses and temporary rentals are attractive income options for investor-class homeowners.
However, even though California has encouraged ADU development in the face of a housing crisis, building ADUs has still been challenging. There aren’t many resources dedicated specifically to ADU construction. Furthermore, homeowners must usually take on an active project management role, finding and working with multiple lenders, contractors, and other specialists.
Revival Homes simplifies the process, offering a one-stop shop for ADU construction in Southern California. They offer project advice, match homeowners to pre-vetted design-build contractors, and offer affordable, flexible project financing.
Credit unions can partner with Revival Homes to help California homeowners fund ADU construction loans.