Solving the Housing Crisis with Cheap 'Granny Flats' #homeownership #investment #realestate

Source:  Business Insider

A startup out of Los Angeles wants to bring small, pre-fabricated living spaces ranging in size from 300 to 1,200 square feet into the backyards of the country's hottest real estate markets.

Cover, is a technology company that plans, designs, and manufactures backyard studios, in-law units, home offices, and guest rooms - collectively known as accessory dwelling units (ADU) - using machine learning and methods borrowed from the aerospace and automotive industries.

The company's long-term goal is to increase the housing supply in cities where the cost of living has become prohibitive, in the hopes of driving market prices down.

In January, legislation went into effect in California that makes it easier and cheaper for homeowners to build ADUs.  The state hopes to see the housing stock climb as a result.

If a homeowner is interested in putting in an ADU on their property, they can fill out a survey of 50 to 100 questions, which covers everything from land type to cabinet finishes.  For a one-time fee of $250, an algorithm gathers information on zoning and build codes in the area and returns multiple design options that meet the needs of the owner as well as city requirements.

Check out the full story here:
https://www.aol.com/article/finance/2017/06/06/a-startup-has-a-plan-to-solve-the-housing-crisis-with-cheap-back/22129179/

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