Tag: ADU

Will Adding an Accessory Dwelling Unit Pay Off?

November 27, 2022
accessory dwelling unitsADUBrightEstateinvestingpersonal financepropertyreal estateWealth Management
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Accessory dwelling units (ADUs) are known by many names: in-law suites, guest houses, backyard cottages, or basement or garage conversions, among others. What all ADUs have in common is that they’re a separate living space typically added to a single-family residential lot, and they’re having a moment. Constructing an ADU could increase your property value…

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California to Pay Up to $25,000 for ADUs, Critics Say it Will Raise Home Prices

September 29, 2021
ADUCalHFAhousingLocal NewsRegional-Local NewsSouthern CaliforniaUS
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The California Housing Finance Agency (CalHFA) announced Sept. 29 that it will be offering up to $25,000 to low- to moderate-income homeowners to build accessory dwelling units (ADUs) on their property. Critics are concerned it will lead to higher housing costs, less homeownership, and more rental units. Former mayor of Costa Mesa Jim Righeimer said building…

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Newport Beach Waives Accessory Dwelling Unit Permit Fees  

May 12, 2021
accessory dwelling unitADUJAUnewport beachNewport Beach City CouncilOrange Countyregional housing needs allocationRHNASouthern CaliforniaUSUS Regional News
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NEWPORT BEACH, Calif.—Newport Beach city council recently approved a temporary discontinuation of permit fees for accessory dwelling units (ADU) in an effort to meet the state’s housing requirement. The state has directed Newport Beach to create 4,845 new housing units throughout the next eight years under Regional Housing Needs Allocation requirements. ADUs are secondary structures,…

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