The Latest Project to Help the Low Housing Inventory Dilemma
With low housing inventory affecting much of the real estate communities in America, it’s safe to say that new ideas are worth considering.
That’s where accessory dwelling units – or ADUs – come in.
Many communities nationwide are discussing lifting zoning requirements to allow more ADUs in neighborhoods in efforts to help battle low housing inventory.
Spaces like an empty free-standing garage, a backyard cottage, or an in-law apartment / granny flat could be added onto an existing home.
California is one of the many states seriously considering this option. One project underway, United Dwelling, will work with a homeowner to pay for a garage conversion – once it has been completed, they’ll manage the rental of the apartment to a tenant and split the rent with the homeowner.
These extra units not only provide extra income for homeowners, but it also helps supply extra housing.
Want more real estate news? Check out Alliance Title’s Blog here.