Homestead provides a platform that enables homeowners to utilize California's SB 9 legislation for lot splits, allowing them to create additional housing units on their properties. This service addresses the challenge of maximizing property value by facilitating the development or sale of newly created lots, thereby transforming home equity into tangible wealth.
Funding
Funding not disclosed
Founders
Product
Problem
California's SB 9 legislation allows homeowners to split their lots and add additional housing units, but navigating the complexities of the law and local guidelines can be challenging. Many homeowners lack the expertise to determine their property's eligibility and understand the development options available under SB 9. This creates a barrier to maximizing property value and increasing housing density.
Solution
Homestead simplifies the SB 9 lot split process by providing homeowners with tools and resources to assess their property's eligibility and explore development opportunities. The platform offers an eligibility checker, educational materials, and connections to professionals who can assist with the lot split and development process. Homestead empowers homeowners to understand their options, navigate local regulations, and unlock the potential of their property under SB 9, whether they choose to keep, sell, or pre-sell the newly created lot.
Target Audience
Homestead primarily targets California homeowners interested in leveraging SB 9 to split their lots, develop additional housing units, or sell newly created lots. The platform also caters to house-hunters looking for SB 9-eligible properties, real estate agents seeking to advise clients on SB 9 opportunities, city officials aiming to implement SB 9 effectively, and building professionals looking to expand their business through SB 9 projects.
Features
- SB 9 eligibility checker to determine if a property qualifies for lot splitting.
- Educational resources, including handbooks and blog posts, explaining SB 9 regulations and development options.
- City-specific guides evaluating local implementation of SB 9.
- Directory of professionals, such as developers and realtors, specializing in SB 9 projects.
- Tools to explore different development scenarios and estimate potential profits.