Granny Flats are on the Upswing #investment #realestate #homeownership #wealth

Source:  San Gabriel Valley Tribune

Accessory dwelling units are increasingly being used by homeowners to add small secondary housing options on their property.  These "granny flats" may be in the form of a converted garage or even a tiny home in an over-sized backyard.

As more municipalities look to grant permits for these structures, some hope the trend can help alleviate housing shortages.  Many forms of guest houses were deemed illegal in California up until recently.  But a new law that took effect at the beginning of this year makes ADUs easier to add, leading to an upswing of these units in the state.  If just 10 percent of California's single-family homeowners added granny flats to their properties, 600,000 new units could be added to the state's housing supply, according to USMondularInc, a firm that specializes in secondary housing units.

However, homeowners who put in a granny flat or convert a garage without permits could face a stiff penalty.  Some homeowners have had to convert the areas back to their original purpose once city regulators discovered the change.  But as more lawmakers open up to the idea, housing analysts believe ADUs will gain popularity and spark more demand for properties that have them.

Check out the full story here:
http://www.dailybulletin.com/2017/09/10/granny-flats-are-on-the-upswing-and-theyre-not-just-for-grannies-anymore-6/

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