How an Accessory Dwelling Unit Can Maximize Your Clients’ Real Estate Revenue

Hi, good morning. My name is Tom Heath. I’m with the mortgage guidance group at Nova Home Loans. This is our weekly installment of mortgage and real estate related matters. And this week’s topic is the Accessory Dwelling Unit (ADU). You may remember back in 2021, the city council was going back and forth and finally adopted an ordinance that allows for an ADU to be built on a property, even if it’s zoned as a single family residence. And they did make some changes to that, but the ordinance still stands. As long as there’s only one or two homes on a lot, you can add an ADU. There’s requirements, it has to be a percentage of the lot size, there’s maximum and minimum as far as height, square footage and all of that. So there’s a link below that takes you right to the city’s ordinance. They think this is an important element that we haven’t taken fully advantage of at this point. It’s an opportunity for homeowners to create a wealth generating opportunity in their backyard, literally.

It’s also an opportunity to create more housing solutions which will impact our supply, keep affordability into the range that we would like it to be. Right now we know that a lot of our issues are driven by the lack of home options, and this creates another potential option for renter or maybe even a homeowner that wants to explore this. So again, take a look at the link below, and if you have questions on this, give us a call. We’ve talked to some agents and some clients about a strategy on how to actually go about this, and if you’ve got some thoughts on this yourself, please let us know. We’d love to share those. You can contact us through our website You can email, call however you would like. Thank you so much you’re and let us know if there’s any topics you would like us to be covering for you.