All about ADU's (smart investors already know) in Orlando, Florida

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ADUs or Accessory Dwelling Units are becoming popular in Orlando, Florida for Investment or Multi-Gen Living-- and in Lake Nona's Laureate Park, Talbot Custom Homes built this new Garage Apartment ADU on an existing 3-car garage for the 2023 Parade of Homes Orlando!
👇Comment below would you build this for income or multi-gen living! 👇
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Learn all about ADU's that you can build in places like Celebration, Florida, Baldwin Park, FL and Lake Nona, Orlando Florida, as well as other places too!
www.talbotcust...
Adam Talbot from Talbot Custom Homes showcases his work on this unique project, that has many Lake Nona families wondering "Can I build one of those on my garage too?"
Here are some answers to many questions you may have:
I know the main question on most people’s minds in LP when discussing adding a garage apartment AFTER construction is complete are “are the footers built for it?!” The answer to this question is most likely, yes. The way engineers design the footers in new construction and what load to carry have allowed all of my customers to not have to reinforce or underpin the footers in anyway. There are a lot of comments on our FB page specifically discussing that we need to demolish the existing garage in its entirety and so far, after around 12 of these being engineered and designed, we haven’t had to touch them.
ADU’s as an investment
ADU’s are an amazing investment opportunity.
Additional rental income: ADU’s can provide a source of additional rental income, which can help offset mortgage payments or other expenses. Currently, Laureate park Garage Apartments rent for $1700-$2200 per month, utilities included.
Increased property value: ADU’s can increase the overall property value of a home, making it a more attractive investment opportunity.
Flexibility: ADU’s can be used for a variety of purposes, such as rental income, housing for family members, or even as a home office or studio.
Low maintenance costs: ADU’s are typically smaller in size and require less maintenance than larger homes, which can result in lower maintenance costs over time
Addressing housing shortages
They pay for themselves - the total ROI for units specifically in Orlando is anywhere from 9.5 - 11.5 years from initial investment. This means the rental income you are receiving from the unit can pay for itself over time.
ADU’s laws, codes, and regulations
ADU’s in LP are restricted to 1000 square feet and more than 300 square feet, regardless of your lot size. It does however need to fit within your set-backs.
ADU’s in the city of Orlando depend on lot size and zoning. Each lot and zoning has to take into consideration a myriad of factors such as lot size (FAR), zoning, impervious square footage, and more. If you live in a privately developed community that does not abide by typical zoning, that will have to be confirmed with the City of Orlando during preliminary work.
General ADU Questions:
What is an ADU?
Small, self-contained living space that is built on the same property as the primary residence.
How much does it cost?
ADU costs are variable. As most plans are completely custom and selections are custom, the total average cost is challenging to nail down.
Do I need a permit to build an ADU?
Yes - there are various permits and fees that must be paid.
Can I rent out my ADU as a short-term vacation rental
No, short -term vacation rentals are not permitted. They can only be rented out for long-term leases. This is an Orange County zoning and HOA restriction. In certain parts of Osceola County, Short Term rental is allowed.
How do I finance ADU’s?
There are several ways to finance - home renovation loans, HELOC, Refinance, and through a company I work with called RENOFI.
Do I have to live on the property where the ADU is built?
No, you don’t.
Can I convert a garage, shed into an ADU?
Yes, it is possible and preferred!
Can I build more than one?
No, you cannot build more than one ADU on one property.
Construction time - how long does it take?
From start to finish it can take around 12 months (this includes, design, engineering, permitting and construction).
Can I rent out my primary residence and live in my ADU?
Yes you can!
Do ADU’s have separate utility?
Yes and no - you'll usually want to have a separate electric meter, but trash, water and sewer are typically all connected together.
Adam J. Talbot
Owner - Talbot Custom Homes
C#: 603-548-4737
Visit www.ParadeOfHomesOrlando.com for more information and to see other entries. Subscribe HERE bit.ly/2A7NZ7z to our channel for more videos of Parade Entries for 2023!
To Buy/Sell/Build/Invest in Orlando, contact:
Justin Pekarek
Text/Call (407) 808-3695
Justin@TheOrlandoPA.com
Orlando Property Advisors
Visit our Website: www.orlandopro...
Check out Reviews here: tinyurl.com/vb...
#ADU #GarageApartment #ParadeofHomesOrlando

Опубликовано:

6 сен 2024

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Комментарии : 14

@suiteadditions 5 месяцев назад

Amazing! I didn't know ADUs were permitted in Florida. I will invest there in the near future.

@OrlandoPropertyAdvisor 5 месяцев назад

Isn’t it great getting $6k rental income per month and only paying one set of taxes/hoa/insurance? ;)

@seetylerrun Год назад

Building a Dream Finders home in south Laureate Park right now, and almost EVERY single home in our neighborhood has one of these. We elected to NOT build one over our garage, as the market is going to be flooded with people trying to rent out these. The DF sales agent told us we could easily get 2000 per month for it in rent, but there is almost zero chance of that.

@OrlandoPropertyAdvisor Год назад

I see what you mean- so many masons with apt (the smaller 2 car garage ones only get $1700/mo) and it’s like a concrete city there. It will take a while for the market to stabilize just as it did for phase 10 when there were a bunch of new apts for rent. But overall lake nona is now and future a very dense area so these will be good to have. Aesthetics wise, I like original LP better with wider lot homes and more diversity in the builders

@edtravelbug 11 месяцев назад

I was wondering = I have a separate studio apartment above my garage already. It was built just a few years ago and I set it up in case I ever wanted to rent it out. If I do want to rent it out do I need to get any sort of approval from Winter Garden/Orlando or only from the HOA in my community? Obviously Winter Garden approved plans and approved dwelling to begin with so no additional work will be needed (maybe add another door for privacy).

@OrlandoPropertyAdvisor 11 месяцев назад

Hey! ADU's in Winter Garden are rare- so that's awesome you have one. Be sure and check Orange County Rules and regulations as well as your local HOA of the neighborhood, as you are not supposed to rent them out short term- 7 months minimum rental is long term. To get a second address and mailbox you'd have to go to tax records and have that address issued, then USPS. Do all of this research before advertising it locally or on Zillow so if any neighbors think "you can't do that" you have proof of following the rules. But then start enjoying the extra income! Oh and If they are on the same Electric meter, your tenant can rent "utilities included"

@DearestMina 6 месяцев назад

Are there any other neighborhoods besides lake Nona with the garage apartment designs?

@OrlandoPropertyAdvisor 6 месяцев назад

Unfortunately the Garage apartment is hard to find in Downtown orlando and if you do find them they are generally old, "grandfathered in". Avalon Park in East Orlando has some, built in the 2006 era. Winter garden made it tough to get approval on ADU garage apartments so many of their new communities do not allow them. If you find land that is No HOA zoned rural or Agricultural you can do them in most cases.

@jayohwhy05 11 месяцев назад

Can you build an ADU with two separate rooms and two separate doors (for parents on both sides)?

@OrlandoPropertyAdvisor 11 месяцев назад

yes just don't put the closet in one of the rooms until after getting certificate of occupancy. but most municipalities limit you on sq footage too so might be tough to fit all the rooms in

@TheTaeWayVlog 6 месяцев назад

Do you have any other contractor recommendations for ADU in Orlando?

@OrlandoPropertyAdvisor 6 месяцев назад

There are other G.C.'s that can quote doing this- but Adam and his team have the most experience with these types of builds recently. And depending on the job size, some GC's might not have the bandwith to do a smaller job. Either way happy to help introducing you to a few

@demetriusdevard490 Год назад

Yo I get it man you got to make your money in the business that you do right but do you really State people ever think about regular people like y'all hiking up these rents like you said like $2,000 like like that's nothing everybody can't afford to pay two or three thousand dollars a month for rent and I feel like it's you real estate people that's hiking up the rent building all these different neighborhoods to bring people from up north to Florida till just freaking flood our state with a bunch of people that don't know how to drive and come on Florida is not California please stop trying to make everything so high in Florida this is not California

@OrlandoPropertyAdvisor Год назад

Yooo it ain’t the real estate people it’s the homeowners charging that rent and also the apartment developers same price $1800/mo for a 1 bedroom in lake nona. When I lived in Boston I paid $2200/mo for an apartment, Orlando is a grown up city now, sorry to say. Covid put us on the map and people realized we had great weather and lower cost of living. My first house here in 2008 was in minneola, move further out and let the wave of growth come to you as you own and earn equity. Same goes for any city. Ride up the ladder with real estate ownership starting with a 3.5% down FHA loan. I did in 2008.