Chic vs. Geek: Being Prepared
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With wildfires in our backyard and a hurricane on the Gulf Coast, disaster insurance sounds like a good idea.
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Chic vs. Geek: Second Homes
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Typically, a second home is used as a vacation home, though it could also be a property in a place that you visit on a regular basis, like a condo in a city where you frequently travel for business. The rest of the year, it could be leased out to generate additional income.
Chic (Pearl)
Second homes, especially vacation homes generally retain or appreciate in value simply because they are located in popular areas with limited housing supply. They have potential for creating personal enjoyment as well as income. And they can also provide convenience and comfort. Whether your goal in buying a second home is recreation, vacation, investment, development, or retirement planning, it’s important to understand local taxes and laws so you know the financial implications. Here’s a good resource.
Geek (Kevin)
The idea of a head start on retirement and access to a vacation home is very tempting. But the inherent inflexibility of visiting the same property over and over makes me think twice. A second home makes sense if you found a place you love that’s like a second home, where you and your family want to be for long periods of time. Personally, I like to keep my travel options open. As usual though, Pearl’s right: If you’re looking into a second home, you might be able to collect a little rent, but you should double-check the local laws.
ADUs in the News
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You’ve probably been hearing a lot about accessory dwelling units (aka ADUs or “granny flats”). Maybe you’re considering investing in one on your property, but you need more information. That’s why we’re here! We keep tabs on all the rules and trends so you don’t have to…
Getting fancy with granny flats
These aren’t your grandparents’ ADUs. As state and local laws loosen up across California, a market is emerging for high-end accessory dwelling units with upscale design in place of drab stucco walls. The LA Times has a look at some of the players in this new game.
New California laws pave the way for ADUs
Meanwhile, the new year brought new laws that make it easier for property owners to build accessory dwelling units (ADUs) in an effort to ease the housing crisis. Capital Public Radio has more.
San José to adopt ADU amnesty program
At last week’s city council meeting, San José leaders approved a new policy that offers amnesty for residents with un-permitted ADUs and gives them a chance to bring the units up to code. Get the details from San José Spotlight.
