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Frequently Asked Questions

A residential unit that can be added to a lot with a single or multifamily home. While they are officially called accessory dwelling units or ADUs, we prefer to call them backyard homes.

Garagify works in the Greater Los Angeles area.

Building a backyard home is a great way to increase the value of your property and generate passive recurring income to:

 

  • Payoff debt – Use the extra money to knock out your balances.
  • Retire comfortably – Enjoy the rest of your life on your own terms.
  • Diversify your portfolio – Achieve your financial goals by investing in your future.
  • Support your family – Secure your family’s financial future.

Everyone’s situation is different. So, our lending partners align your specific needs with the backyard home financing option that is best for you.

  • Shared Appreciation Loan
  • Savings
  • Cash out Refinance
  • Home Equity Loan
  • Home Equity Line of Credit
  • Construction Loan
  • Personal Loan

Yes, but not as much as you may be thinking. The City determines the costs associated with building the backyard home (note this will most likely differ from our bid).  This information is forwarded to the tax assessor who then increases the value of your property based on the cost information received from the City. For example, if the City indicates that the value of the construction is $100,000, the tax assessor will add that to your original property value.

 

Let’s say you purchased your home for $750,000, your property tax will only increase based on the City’s value of the cost of the improvements, $100,000. At 1.1% of this cost,  your property taxes will only increase a few hundred dollars more per year, which is way less than the rental income you’ll receive.

A residential unit that can be added to a lot with a single or multifamily home. While they are officially called accessory dwelling units or ADUs, we prefer to call them backyard homes.

Garagify works in the Greater Los Angeles area.

Building a backyard home is a great way to increase the value of your property and generate passive recurring income to:

 

  • Payoff debt – Use the extra money to knock out your balances.
  • Retire comfortably – Enjoy the rest of your life on your own terms.
  • Diversify your portfolio – Achieve your financial goals by investing in your future.
  • Support your family – Secure your family’s financial future.

Everyone’s situation is different. So, our lending partners align your specific needs with the backyard home financing option that is best for you.

  • Shared Appreciation Loan
  • Savings
  • Cash out Refinance
  • Home Equity Loan
  • Home Equity Line of Credit
  • Construction Loan
  • Personal Loan

Yes, but not as much as you may be thinking. The City determines the costs associated with building the backyard home (note this will most likely differ from our bid).  This information is forwarded to the tax assessor who then increases the value of your property based on the cost information received from the City. For example, if the City indicates that the value of the construction is $100,000, the tax assessor will add that to your original property value.

 

Let’s say you purchased your home for $750,000, your property tax will only increase based on the City’s value of the cost of the improvements, $100,000. At 1.1% of this cost,  your property taxes will only increase a few hundred dollars more per year, which is way less than the rental income you’ll receive.

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