Homebuyers can take advantage of California's SB9 law in a few ways:

 

1) Increased housing options: SB9 allows homeowners to create up to four residential units on a single property. This means that homebuyers have more options to choose from when searching for a home. They can look for properties where the law has been implemented, offering the potential for multiple units on the same lot. This expanded housing supply increases the chances of finding a home that fits their needs and budget.

 

2) Rental income potential: Homebuyers can also benefit from the rental income potential that SB9 provides. If they purchase a property that has been divided into multiple units, they can rent out the additional units and generate rental income. This can help offset mortgage payments or provide an additional income stream.

 

3) Multigenerational living: SB9 allows for the creation of multiple residential units on a single property, which can be beneficial for homebuyers seeking multigenerational living arrangements. Families can purchase a property where additional units have been built or can be constructed, providing separate living spaces for different generations while remaining on the same property. This can be particularly advantageous for those who want to support aging parents or have young adults living with them but desiring more privacy.

 

4) Potential for property appreciation: The increased housing supply resulting from SB9 can contribute to a healthier real estate market and potentially lead to appreciation in property values. Homebuyers who purchase a property in an area where SB9 is implemented may benefit from the potential for property value growth over time. This can offer better long-term investment prospects and potential returns.

 

It's important for homebuyers to conduct thorough research and due diligence when considering properties affected by SB9. They should consider factors such as local regulations, infrastructure, neighborhood dynamics, and potential impacts on property values before making a purchase. Consulting with real estate professionals and understanding the specific requirements and limitations of SB9 can help homebuyers navigate the process effectively.