ADUs are not a magic bullet that will solve affordable housing on their own, but they are an essential tool.Capital Gazette
ADU Tips From Redfin
The Redfin blog recently surveyed ADU builders nationwide to get their best tips for anyone thinking about building an ADU. Our own ADU expert, Austin Willis, took part in the survey. Check his tip at #2 in the article. Here’s that link: Redfin Real Estate Blog.
ADUs in Bend, Oregon: Good News
The Bend Planning Division recently updated the Accessory Dwelling Unit Quick Reference Guide.
Highlights include the following:
- Bend implemented an easier, one-step review for building permits. The new method will likely reduce fees by up to two thousand dollars and decrease the time necessary for the review.
- The size limit for ADUs increased to 800 square feet. The old guidelines only allowed 600 square feet on lots under 6,000 square feet.
- Restrictions on height limits were eased.
- Restrictions on parking were eased. Basically, there is now no additional onsite parking requirement for ADU’s.
For help understanding requirements and getting your ADU project underway, call Austin Willis at 541-408-0637 for a no-obligation discussion. Austin’s Oregon CCB number is 203478.
Finance company announces special ADU financing
Finance of America mortgage launched a refinancing program to allow homeowners to combine their home and ADU loans. The aim is to reduce interest paid by the borrower, help ease the affordable housing crunch, and “allow homeowners to take advantage of recent state changes that have encouraged the construction of ADUs.”
ADUs are gaining in popularity
A Wall Street Journal article says they may even allow you to convert your garage into a new rental opportunity. A real estate agent in San Diego converted a detached one-car garage into a $2,000 per month source of income. Yes, it will take time for the new rental property reach the breakeven point … but a savvy accountant can potentially show you how to leverage tax laws to your favor.
Oregon lawmakers approved more than $700 million to help ease the state’s housing crunch
ADU legislation passed includes devoting one million dollars on a pilot program that will build ADUs for homeowners who qualify and allowing the construction of ADUs in rural residential zones within the state. Find out more about Oregon ADUs and SB391 here: Oregon ADU Law.
California lawmakers encourage ADU construction
California A.B. 561 would create the Help Homeowners Add New Housing Program to encourage the building and financing of ADUs in the state. CalHFA and HCD would clear a path for lenders to provide loans for ADU construction.
Elon Musk lives in an ADU!
Elon Musk, founder of Tesla and SpaceX (and other companies) is wealthy beyond comprehension. He is also one of the world’s most forward-looking thinkers. So, where does Elon Musk choose to live? You guessed it: Musk lives in an ADU. Check this TinyHouseTalk article for the scoop.
This city will provide $200k to help citizens build ADUs
Want to get paid to build an ADU in your backyard? Move to Charleston, South Carolina. Not only do local laws permit ADUs, but the City of Charleston will help ten homeowners build their ADUs by investing $200,000 in ADU construction.