We’ve talked about one-story homes – another way to add insulation from any potential downturn is to buy a property that can accommodate a granny flat. They can produce extra cash flow (the county states that they can be rented), and if you ever have to sell, there are home buyers looking to have grandma on-site rather than putting her in a senior facility at $5,000 per month. Cities have been slow to accommodate the accessory dwelling units (ADUs), but they need to comply with low-income housing so they should come around.
Hat tip to Bryce and Nancy:
The San Diego Board of Supervisors voted to waive fees for residents building accessory units on their property Wednesday to address the county housing shortage.
These accessory dwelling units, known as “granny flats,” are described as attached or detached residential spaces to an existing property that can provide sleeping, eating, cooking, and sanitation, according to the county.
“This is a critical step in our on-going efforts to address the region’s housing crisis, especially the serious need for affordable housing,” said District 2 Supervisor Dianne Jacob. “This new program is the quickest and easiest way for us to expedite the development of housing.”
The board voted Wednesday to waive all county permit and development impact fees over the next five years with the hopes of bringing thousands of additional granny-flat homes across the county.
The previous cost of a permit for a granny flat was $1,222 plus $0.0411 per square-foot of space, according to the county’s website.
In total, residents planning to build granny flats could save an average of $14,000, according to District 5 Supervisor Jim Desmond.
In order to offset the loss of these fees, the county said it would subsidize $11 million for the five-year program.
“We will continue to be creative and challenge the status quo to solve the region’s housing crisis,” said Desmond.
The incentivized units can be used for family members or rented out as a source of income for the homeowner, the Board of Supervisors said.
To learn more about what constitutes a granny flat, go to the county’s website.