There is now greater potential for a housing boom across the State of California. As recently reported by the Mercury News, Governor Jerry Brown has signed the “Granny Unit” Bill. This will ease restrictions and fees for home owners who decide to invest in building a secondary dwelling on their property. This could be a win-win situation for many California residents, especially here in the Bay Area where housing is at a premium.
The “Granny Unit” Bill follows a growing trend of local municipalities, such as Menlo Park, which are expanding their regulations for secondary dwelling units. This is being done primarily to provide more housing options for a broader range of residents, in particular, those in our health, education and service industries, young families, and our elders. An increase in Granny Units will bring more affordable rental options to those who need them most.
Utility fees and parking restrictions have been eased with the passing of the Granny Unit Bill. While the popularity of Granny Units has been on the rise, often the excess in fees would be cause for pause in this type of expenditure. Now it will be easier to have a secondary dwelling unit built on your property. With the demand for more affordable rents high, a Granny Unit could be the ideal investment.
There are a variety of real estate properties you can invest in. If you are thinking of buying a second property, or expanding your own, Granny Units are one option to explore. Working with a Realtor® who knows how to navigate all the options available, will make a big difference too. We at Haylen Group are here to help you with all of your real estate needs! As your agent we will strive to work together and give you the best support we can. Call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.