Yardsworth provides homeowners with a debt-free method to unlock home equity by purchasing a portion of their residential lot for new housing development. This process involves facilitating an SB9 urban lot split, allowing homeowners to receive a lump-sum cash payment while retaining their primary residence and mortgage terms. The service converts underutilized land value into immediate capital without requiring homeowners to manage development or secure additional financing.
Funding
Funding not disclosed
Founders
Product
Problem
Many homeowners have significant untapped equity tied up in their underutilized backyard space. Traditional methods of accessing this equity, such as home equity loans or HELOCs, require incurring additional debt and monthly payments, which can be burdensome, especially in high-interest rate environments.
Solution
Yardsworth offers a debt-free solution for homeowners to monetize their unused yard space by purchasing a portion of their land. This allows homeowners to access a lump sum of cash without taking on additional debt or altering their existing mortgage terms. Yardsworth handles the lot split process, covering the associated costs, and provides homeowners with a guaranteed price for their land, offering a straightforward alternative to traditional financing options like HELOCs or second mortgages. This approach enables homeowners to unlock the hidden value in their property and use the capital for various purposes, such as debt elimination, home renovation, or business ventures.
Target Audience
Yardsworth primarily targets homeowners with underutilized backyard space who are seeking a debt-free way to access their home equity for purposes such as debt consolidation, home improvements, or investment opportunities.
Features
- Free evaluation to determine the value of the homeowner's yard space.
- Handles the entire lot split process, including all associated costs and permits.
- Provides a guaranteed, locked-in price for the portion of land purchased.
- Allows homeowners to retain their existing home, mortgage, and interest rate.
- Offers a debt-free alternative to HELOCs, home equity loans, and ADU construction financing.
- Provides a lump-sum payment, offering immediate access to capital.