California Gov. Gavin Newsom has signed into law Assembly Bill 1033. It allows accessory dwelling units (ADUs) to be sold separately from the homes they are associated with, in effect creating two- or three-unit condominiums.
The bill’s sponsor, Assembly member Phil Ting (D-San Francisco), says the law opens the door to affordable homeownership by allowing these tiny homes, cottages, or casitas to be sold as condominiums. In a press release, he said this continues the momentum of California’s “backyard revolution” for affordable housing.
“Signing AB 1033 into law will help families burdened by high housing costs. Our children won’t have to move out of state to purchase a home; employers will be able to attract and retain workers who would otherwise leave our state due to lack of affordable homes; and elders who want to downsize and stay in their communities will have new options,” said Denise Pinkston, president of the Casita Coalition, a statewide group looking for affordable housing solutions.
The California Department of Housing and Community Development (HCD) reports the ADUs are needed because California’s housing production is not keeping pace with demand. In the last decade, fewer than half of the homes needed to keep up with the population growth were built. Additionally, new homes are often constructed away from job-rich areas.
read more at: https://nationalmortgageprofessional.com/news/adus-can-now-be-sold-separately-california
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