{"id":2074977,"date":"2023-10-21T10:07:04","date_gmt":"2023-10-21T14:07:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-law-allows-homeowners-to-sell-adus-as-condos\/"},"modified":"2023-10-21T10:09:54","modified_gmt":"2023-10-21T14:09:54","slug":"california-law-allows-homeowners-to-sell-adus-as-condos","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-law-allows-homeowners-to-sell-adus-as-condos\/","title":{"rendered":"California law permits homeowners to sell Accessory Dwelling Units (ADUs) as condominiums."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornia-law-allows-homeowners-to-sell-adus-as-condos%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2074977&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>California Homeowners\u200c Can Now Sell ADUs as Condos Under New Law<\/h2>\n<p>Starting next year, California homeowners will have the opportunity \u2062to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-law-allows-homeowners-to-sell-adus-as-condos\/\" title=\"California law permits homeowners to sell Accessory Dwelling Units (ADUs) as condominiums.\">sell accessory dwelling units<\/a> (ADUs)\u200c built on their property as condominiums. This new law aims to\u200b address the state&#8217;s\u2064 affordable housing crisis by increasing the availability\u200c of\u200b affordable homes.<\/p>\n<p>The bill, known as Assembly Bill \u20631033 and authored by \u200bAssemblyman\u200d Phil \u2064Ting, was\u200c signed by\u2064 Gov. Gavin Newsom on October 11. It allows cities to adopt \u2062local ordinances that permit the separate sale of ADUs from the primary \u200dresidence. Previously, only ADUs\u200d built by qualifying nonprofits could be sold separately, and\u2062 only to low-income individuals earning \u2062below 80 percent of the median area income.<\/p>\n<blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/bright\/will-adding-an-accessory-dwelling-unit-pay-off-4882105?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Will Adding an Accessory Dwelling Unit Pay Off?<\/h3>\n<p><\/a><\/p>\n<p>11\/27\/2022<\/p>\n<\/li>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/us\/newport-beach-waives-accessory-dwelling-unit-permit-fees-3813623?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Newport\u2064 Beach Waives Accessory Dwelling Unit Permit Fees<\/h3>\n<p><\/a><\/p>\n<p>5\/12\/2021<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;The lack of home ownership opportunities in most California communities\u200b for\u2063 working \u200cfamilies\u2064 is\u2063 contributing to the\u2062 State&#8217;s growing population of renters and\u2063 driving families out of state so\u2063 that they can buy a home,\u201d said Assemblyman Phil\u200d Ting.<\/p>\n<p>Prior to 2017, \u2062ADUs accounted for less \u2064than one percent \u2062of permitted\u2064 new construction\u200b in California. However, a new state law\u2063 has allowed ADUs \u2064to \u200dbe built on\u200c single-family lots, resulting in approximately 10 percent of new construction being ADUs, with\u200c around \u200b9,600 units built in 2022.<\/p>\n<div class=\"post-figure\">\n<figure style=\"width:600px\" class=\"alignnone\"><figcaption>An ADU &#8220;tiny home&#8221; \u200bin a file photo. (John Fredricks\/The\u200c Epoch Times)<\/figcaption><\/figure>\n<\/div>\n<p>A survey conducted in the \u200cBay \u200cArea found that \u2063ADU rent\u200c prices were affordable for those earning the median area income, which was around \u2063$128,000 in 2022.<\/p>\n<p>Studies have shown that homeownership is the primary way American households accumulate wealth, with\u200b homeowners having a net worth around 60 times\u2063 larger than renters. However, the median home price in California is almost $800,000, making \u2062it affordable \u2063for only around 17 percent of\u200b households \u200bin the state.<\/p>\n<p>The bill received support from \u200dvarious pro-housing \u200bnonprofits, activists, government officials, and the City of \u200cSan Jose. The Bay\u200d Area Council, a business\u2062 association\u2064 advocating for the Bay Area and a co-sponsor of\u2062 the bill, believes\u2064 that it\u2063 will help offer starter homes\u200c to California families.<\/p>\n<p>However, the\u2064 California Association of Realtors (CAR) opposed the bill, \u200darguing that it should have included an \u200bowner occupancy requirement. CAR believes \u2063that local\u2063 governments should \u200bhave the option to impose such requirements to \u2063ensure\u200b that homeownership opportunities actually increase.<\/p>\n<p> <\/p>\n<h2> What potential\u2064 positive effects are \u2063expected from allowing ADUs to be sold as condominiums?<\/h2>\n<p><span> <\/p>\n<h3>Newport Beach Waives Accessory Dwelling Unit\u2063 Permit\u2062 Fees<\/h3>\n<p><\/a><\/p>\n<p>10\/15\/2022<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>The new law allows \u200chomeowners to\u2064 sell\u2063 ADUs as condos to anyone, regardless \u200dof income \u200dlevel. \u2064This means that homeowners \u200dcan now generate\u200b additional \u200cincome by selling these units on the \u200bmarket. It \u200dalso incentivizes homeowners to invest in ADUs as a way\u2062 to create affordable housing options while also generating revenue for\u200d themselves.<\/p>\n<p>ADUs, also known as granny flats or in-law units, are small, self-contained \u2063residential units that are typically located on the same property as\u200b a primary\u200d residence. They can \u200cbe converted garages, basements, or standalone \u2064structures. ADUs provide \u2062an additional housing option for\u2064 individuals and families, and they can help alleviate the shortage of\u2064 affordable housing in California.<\/p>\n<p>Prior to the passage of this new law, ADUs could only be rented out\u2063 or used by family members. Homeowners could not sell ADUs as separate properties, limiting \u200btheir ability to monetize their investments. This new law changes that and allows ADUs to be sold as \u200cindividual condominium units.<\/p>\n<p>The\u2064 decision to allow ADUs to be sold as condominiums is expected to have several \u2062positive effects.\u200b First, it will increase the supply of affordable housing \u200con the market, providing more\u200d options for homebuyers. \u200cSecond, it incentivizes homeowners to invest in\u200d ADUs, leading \u200dto an \u200cincrease in the construction of these units. This will create jobs in the construction industry and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jason-smith-says-evidence-shows-joe-biden-connected-to-hunters-business-deals\/\" title=\"Jason Smith claims there is evidence linking Joe Biden to Hunter's business deals.\">stimulate economic\u2064 growth<\/a>.<\/p>\n<p>Furthermore, the ability to sell ADUs as condos enables homeowners to generate additional income. This can \u2062be particularly beneficial for homeowners who may be\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thousands-of-florida-households-facing-financial-ruin-in-wake-of-hurricane-ian\/\" title=\"Thousands Of Florida Households Facing Financial \u2018Ruin\u2019 In Wake Of Hurricane Ian\">facing financial difficulties<\/a> or \u2063looking to supplement their income. Selling an ADU as a condo allows homeowners to capitalize on the value \u2062of their \u2063property\u2063 and potentially make a profitable sale.<\/p>\n<p>However, there\u2062 are some concerns regarding the \u2064potential impact of this new law. Critics argue that allowing ADUs to be sold as condos could result in a reduction in the\u200b overall availability of affordable housing. Instead\u2062 of being rented out or occupied by\u200c low-income individuals or families, these units may be purchased by higher-income buyers who \u200bmay not \u2064have the \u2064same\u2062 need for affordable housing.<\/p>\n<p>Additionally, there may be challenges in implementing this law at the local level. Cities will\u200d need to adopt local\u200c ordinances that allow for the separate sale \u200bof ADUs. This process may be time-consuming and could vary from city to city, \u200dleading to inconsistencies in the implementation \u2062of the law.<\/p>\n<p>In \u2064conclusion, the new law in California allowing homeowners to sell ADUs as condos is a significant \u200cstep towards addressing the state&#8217;s\u2064 affordable housing crisis. \u2063It \u2064increases the supply\u200d of affordable housing on the market, provides homeowners with an opportunity to generate additional income, and stimulates\u200c economic growth. However, it is essential for cities to carefully consider the potential impacts and implement the law in a way \u200dthat \u200densures the continued availability of\u2064 affordable housing \u2063for those who need\u2062 it most.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under a new law, California homeowners can sell property-built accessory dwelling units (ADUs) as condos from next year. Assembly Bill 1033, authored by Assemblyman Phil Ting, aims to boost affordable housing in the state. Gov. Gavin Newsom signed the bill on Oct. 11, granting cities the authority to implement this change.<\/p>\n","protected":false},"author":1349,"featured_media":2074978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2074977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2074977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1349"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2074977"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2074977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2074978"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2074977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2074977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2074977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}