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Even if the housing market nosedives I think they would still be in business, because they are providing a simple financial and practical equation to consumers
by riazrizvi 4y ago
Even if the housing market nosedives I think they would still be in business, because they are providing a simple financial and practical equation to consumers where none exists. If you have a home on a big enough plot worth $1mm or more, you could look at how much you would increase your home value with this product and say yes/no. The permits are handled, the construction is handled, the end-product’s aesthetics are almost guaranteed. All this is essential for a full-time employed home owner who doesnt have time for a major home renovation project.
- Ancapistani 4y ago> they are providing a simple financial and practical equation to consumers where none exists. This is just the current process with better marketing. You can get the same result from finding and buying an ADU plan and submitting it to a few contractors for quotes. I’m sure there are places where adding this would increase the value of the property for more than the cost - but going this route would be leaving ~$200k on the table, at least. The market segment that prefers to forego $200k of potential profit in favor of convenience cannot possibly be that large.
- riazrizvi 4y agoA custom built ADU by a small contractor is just not comparable, there is so much uncertainty down that route, and already we are talking about a much more involved process of acquiring and vetting bids. I imagine that the market would be expanded with this more certain and lower touch product.