[UCGal]

The city of San Diego has VERY strict restrictions on granny flats or accessory buildings. I know – we built one and are one of less than a handful of companion unit permits issued in the past decade from the city of San Diego. (In 2006, when we were in the permit process we asked how many permits had been issued for granny flats – the answer was 7 applications, 2 permits – ours was one of the 2. The other one was not under construction at the time.)

The rules are as follows:
– Lot size must be twice the minimum for your area. So if the minimum lot size is 5000sf, you need 10,000 sf or more. If the minimum lot size is 3500sf – you need 7000 or more to qualify.

– Max size of granny flat or guest house is 700sf.

– granny flat must be built on back 1/2 of the lot.

– Then there is the offstreet parking “street wall” issue. You need to show an off street parking spot that meets the street wall setbacks. In most areas this means having a wide side yard, with space in front of your house. We were just shy of this requirement and had to plead for a waiver. Our alternative would have involved cementing our front yard to provide a driveway from our curbcut to the far side of the house.

The city of San Diego, at the time we were seeking our permit, did not really like companion units. Other places in the county were much more lenient about lot size and street wall/parking issues.

FWIW – our granny flat has worked out wonderfully. It was designed with my father in laws wheelchair in mind. My in-laws have enjoyed having autonomy and privacy of having a separate house – but having us to help them if they need it. My kids love having their grandparents right there.

Let me know if you have any other questions.

[UCGal]

The city of San Diego has VERY strict restrictions on granny flats or accessory buildings. I know – we built one and are one of less than a handful of companion unit permits issued in the past decade from the city of San Diego. (In 2006, when we were in the permit process we asked how many permits had been issued for granny flats – the answer was 7 applications, 2 permits – ours was one of the 2. The other one was not under construction at the time.)

The rules are as follows:
– Lot size must be twice the minimum for your area. So if the minimum lot size is 5000sf, you need 10,000 sf or more. If the minimum lot size is 3500sf – you need 7000 or more to qualify.

– Max size of granny flat or guest house is 700sf.

– granny flat must be built on back 1/2 of the lot.

– Then there is the offstreet parking “street wall” issue. You need to show an off street parking spot that meets the street wall setbacks. In most areas this means having a wide side yard, with space in front of your house. We were just shy of this requirement and had to plead for a waiver. Our alternative would have involved cementing our front yard to provide a driveway from our curbcut to the far side of the house.

The city of San Diego, at the time we were seeking our permit, did not really like companion units. Other places in the county were much more lenient about lot size and street wall/parking issues.

FWIW – our granny flat has worked out wonderfully. It was designed with my father in laws wheelchair in mind. My in-laws have enjoyed having autonomy and privacy of having a separate house – but having us to help them if they need it. My kids love having their grandparents right there.

Let me know if you have any other questions.

[UCGal]

The city of San Diego has VERY strict restrictions on granny flats or accessory buildings. I know – we built one and are one of less than a handful of companion unit permits issued in the past decade from the city of San Diego. (In 2006, when we were in the permit process we asked how many permits had been issued for granny flats – the answer was 7 applications, 2 permits – ours was one of the 2. The other one was not under construction at the time.)

The rules are as follows:
– Lot size must be twice the minimum for your area. So if the minimum lot size is 5000sf, you need 10,000 sf or more. If the minimum lot size is 3500sf – you need 7000 or more to qualify.

– Max size of granny flat or guest house is 700sf.

– granny flat must be built on back 1/2 of the lot.

– Then there is the offstreet parking “street wall” issue. You need to show an off street parking spot that meets the street wall setbacks. In most areas this means having a wide side yard, with space in front of your house. We were just shy of this requirement and had to plead for a waiver. Our alternative would have involved cementing our front yard to provide a driveway from our curbcut to the far side of the house.

The city of San Diego, at the time we were seeking our permit, did not really like companion units. Other places in the county were much more lenient about lot size and street wall/parking issues.

FWIW – our granny flat has worked out wonderfully. It was designed with my father in laws wheelchair in mind. My in-laws have enjoyed having autonomy and privacy of having a separate house – but having us to help them if they need it. My kids love having their grandparents right there.

Let me know if you have any other questions.

[UCGal]

I’ve been using aimloan.com to what-if the scenarios… They allow you to select income property as one of your options to get rates.

There seems to be a rate premium if you put less than 25% down. I was seeing 5.5% with a 0.5 point last week.

I can’t answer about the income requirements… I would imagine that you would need to show the ability to pay the mortgage… but lenders don’t always act rationally.

[UCGal]

I’ve been using aimloan.com to what-if the scenarios… They allow you to select income property as one of your options to get rates.

There seems to be a rate premium if you put less than 25% down. I was seeing 5.5% with a 0.5 point last week.

I can’t answer about the income requirements… I would imagine that you would need to show the ability to pay the mortgage… but lenders don’t always act rationally.

[UCGal]

I’ve been using aimloan.com to what-if the scenarios… They allow you to select income property as one of your options to get rates.

There seems to be a rate premium if you put less than 25% down. I was seeing 5.5% with a 0.5 point last week.

I can’t answer about the income requirements… I would imagine that you would need to show the ability to pay the mortgage… but lenders don’t always act rationally.

[UCGal]

I’ve been using aimloan.com to what-if the scenarios… They allow you to select income property as one of your options to get rates.

There seems to be a rate premium if you put less than 25% down. I was seeing 5.5% with a 0.5 point last week.

I can’t answer about the income requirements… I would imagine that you would need to show the ability to pay the mortgage… but lenders don’t always act rationally.

[UCGal]

I’ve been using aimloan.com to what-if the scenarios… They allow you to select income property as one of your options to get rates.

There seems to be a rate premium if you put less than 25% down. I was seeing 5.5% with a 0.5 point last week.

I can’t answer about the income requirements… I would imagine that you would need to show the ability to pay the mortgage… but lenders don’t always act rationally.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Asking prices are different than selling prices. I could market my house for $2 Million. I couldn’t SELL my house for that, though.

[UCGal]

Asking prices are different than selling prices. I could market my house for $2 Million. I couldn’t SELL my house for that, though.

[Author]

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