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☆ A popular tiny home maker has unveiled a new $230,000 400-square-foot home on wheels as ADU popularity continues to skyrocket — see inside
▼ + stars: | 2023-08-25 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Florida-based Movable Roots unveiled its newest $230,000 400-square-foot tiny home on wheels. The Overlook Cottage was designed to be a vacation home akin to a summer short-term rental. It's not built yet but the company is already seeing interest from private buyers and developers. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. According to Mike Cheatham, the vice president and co-owner of Movable Roots, "it's changed tenfold."

Persons: you've, Mike Cheatham, it's Organizations: Service Locations: Florida, Wall, Silicon

☆ New York will pay homeowners up to $125,000 to build an ADU in their backyard to help ease the nation's housing shortage
▼ + stars: | 2023-08-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

New York allocated $85 million to pay homeowners for building ADUs in their backyards. The state has given out $23.4 million to go to homeowners from the Buffalo area to New York City. As of August 15, the Empire State has spent $23.4 million doing so, according to New York State Homes and Community Renewal, which is in charge of the funds. miller.photo for VillaMany cities, in New York and beyond, have eased zoning ordinances to allow homeowners to build additional living units on their property. In California — where the housing crisis is especially dire — the state legislature even overrode local zoning ordinances, to allow all homeowners to build on their property.

Persons: Jolie Milstein, Kathy Hochul, HCR, miller.photo, Milstein Organizations: Service, Empire State, New York State Homes, Community, New York State Association for Affordable Housing, of, Villa, California —, Spectrum Locations: York, Buffalo, New York City, Wall, Silicon, Ulster County, Amherst, of New York City, Westchester, San Jose, New York, California

☆ These states will pay you to build a tiny home in your backyard
▼ + stars: | 2023-08-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Building backyard tiny homes can be expensive. There are three states that will help with the cost, by providing homeowners with grant money. These backyard homes, called accessory dwelling units, or ADUs, are small housing units that homeowners can build on their property. In California, where most backyard homes are being built, ADU building permits cost anywhere from $450 to $15,000 — even before construction starts, according to Backyard Unlimited, a company that builds ADUs. Insider reached out to all 50 states to learn which pay homeowners to build ADUs.

Persons: you've, there's, Joyce Higashi's ADU, Kelsey Neubauer, Vermonters Organizations: Service, Backyard, Department, California Housing Finance, California Housing Finance Agency New, AMI, York State's Homes, York State Homes, Community Renewal, Champlain Housing Trust, Community Development, Windsor Housing Trust, Vermont Housing, of Housing, Community Locations: Wall, Silicon, California, California Housing Finance Agency New York, Monroe , New York, Hudson, New York City, Onondaga County, Syracuse, York, Community Renewal Vermont, Burlington , Vermont, Vermont, Champlain, Western Vermont, Windham, Windsor

☆ Thinking of building an ADU in your backyard? Here are some pros and cons.
▼ + stars: | 2023-08-07 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +6 min

Backyard tiny homes are increasing in popularity, especially in California. If you're considering building a tiny home in your yard, here are some pros and cons to consider. San Jose homeowner and ADU advocate Joyce Higashi rents her backyard home to traveling nurses for $3,000 per month, she previously told Insider. Pro: Tiny homes can allow a child or elderly parent to remain nearbyAn ADU in Seattle. Selma Hepp, chief economist at CoreLogic, previously told Insider she ran into many challenges when building her ADU.

Persons: it's, Glenn Robinson, Robinson, Joyce Higashi, Eugene Chu, Peter Bohler, Cindy Loughridge, Seth Restaino, Redfin, Higashi, Selma Hepp, Abodu, George Beatty, Realtor.com Organizations: Service, National Association of Realtors ., California Housing Works, Pew Research Center, Terner Center, Housing Innovation, University of California, Villa Locations: California, Wall, Silicon, Sonoma ., National Association of Realtors . California, Redwood City , California, Jose, San Diego, Seattle, Bay, Sonoma, Golden, Berkeley, Philadelphia

☆ The genius plan that could bring down skyrocketing home prices
▼ + stars: | 2023-08-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy. Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind. "A typical New Zealand city looks a lot like a typical US city," Gray said. There are three models of housing construction in US cities right now, Gray said. "In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."

Persons: Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman Organizations: Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University Locations: New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City

☆ Why tiny homes could be a big deal
▼ + stars: | 2023-08-06 | by ( Matt Turner | ) www.businessinsider.com time to read: +6 min

It's easy to look at these tiny homes as undersized gimmicks, but there are real use cases. Others are leaning on tiny homes to house homeless veterans. Denver changed its zoning laws to make ADU construction easier, allowing two-story units in some parts of the city. Tiny homes won't fix that, but innovation in zoning and construction, taken with recent data pointing to a surge in residential construction, offer reasons for hope. Why tiny homes could be a big dealThis first appeared in the Insider Today newsletter.

Persons: Joyce Higashi, Katie Sandoval, Clark, Maggie, John Randolph, crumbles Karl Maasdam, Lawrence D, Thornton, Rebecca Zisser, Francesca Gino, Gino, she's, Read, Morgan Stanley, Arantza Pena Popo, Who's, James Gorman, Ted Pick, Morgan Stanley copresident, Insider's Hayley Cuccinello, Pick, Andy Saperstein, Ted Pick Big, Tyler Le, Brad Setser, Tess Turner, Stack, coders, — Jasmine Hyman, Doc Martens, Matt Turner, Hallam Bullock, Lisa Ryan Organizations: Service, Harvard, Big Pharma Locations: Wall, Silicon, California, San Jose, New Hampshire, Denver, Austin's, New York City

☆ Why it's so hard to build homes in your neighborhood
▼ + stars: | 2023-08-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

Single-family homes in Arlington, Massachusetts. Around 75% of residential land in the United States is zoned for single-family homes only. This has had the effect of encouraging ever-larger single-family homes and limiting housing options, like smaller houses. “You can’t just do it all with zoning reform,” Walla Walla City Manager Elizabeth Chamberlain told CNN. The second wave of single-family zoning laws spread during the 1970s, historians say, and the policies became more restrictive.

Persons: Suzanne Kreiter, ”, Jenny Schuetz, “, —, Ben McCanna, Joe Biden’s, Richard Kahlenberg, Kathy Hochul’s, Elizabeth Chamberlain, “ It’s, Nancy Kaye, William Fischel, Fischel, Carlos Avila Gonzalez, Yonah Freemark, we’re, ” Freemark Organizations: New, New York CNN, Boston Globe, Brookings Metro, Republicans, Portland Press Herald, Getty Images, ”, CNN, Homes, “, Dartmouth University, Homeowners, San Francisco Chronicle, AP, Pew Charitable Locations: New York, Arlington , Massachusetts, United States, “, Maine, Getty Images Minneapolis, Arlington , Gainesville, Charlotte, Walla Walla , Washington, Oregon , California, Washington , Montana, Connecticut , Arizona, ” Walla Walla City, Cities, Louisville , Kentucky, Flushing , Queens, America, San Francisco, Los Angeles , New York City, Seattle, Chicago , Philadelphia, Portland, Washington, Walnut Creek , California, Minneapolis, Portland , New Rochelle , New York, , Virginia, Towns, Walla, Walla Walla

☆ California could pay homeowners $40,000 to build a tiny home in their backyards. It's 'vital,' for increasing the housing supply in the state, one expert said.
▼ + stars: | 2023-08-02 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

California set aside $50 million in the state budget for homeowners building backyard homes. The cash plays a "vital," part of the state's ability to increase housing supply, one expert said. The state is short 2 million homes, and many experts think ADUs can ease the issue. Through that previous program, homeowners received grants of up to $40,000 to develop at least one additional housing unit on their property. ADU financing is hard to findNearly 20% of all homes built in California are ADUs, according to data from the state's department of housing.

Persons: Gavin Newsom, Muhammad Alameldin, CalHFA, Alameldin Organizations: Service, Gov, University of California, Berkeley Terner Center, Housing Innovation, Los Angeles Times Locations: California, Wall, Silicon

☆ This tiny home built in a Seattle backyard was designed to maximize sunlight in one of the rainiest cities in America — see inside
▼ + stars: | 2023-07-31 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

There have been a growing number of small flats, called accessory dwelling units, or ADUs, popping up in backyards in Seattle. An ADU in a Seattle backyard. Peter Bohler for CAST ArchitectureThis comes about four years after Seattle first rolled back restrictions on these units in 2019, in an attempt to ease the city's housing shortage. Source: Seattle Times

Persons: Peter Bohler Organizations: Seattle, Seattle Times Locations: backyards, Seattle, An

☆ Why the US should be more excited about tiny homes
▼ + stars: | 2023-07-29 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +9 min

While there is a lot of interest in tiny homes, it's too early to measure their success. Tiny homes, generally defined as homes under 1,000 square feet — compared with the typical US home size of 2,500 square feet — are a growing market for those seeking affordability, community, and simplicity. Tiny homes — and accessory dwelling units, their slightly larger counterpart — are being eyed as a solution to the country's housing shortage. A tiny home designed and built by Colorado-based tiny home developer, Mitchcraft Tiny Homes. Tiny homes are "a spear point against the armor" to these restrictions, he added.

Persons: Katie Sandoval, Clark, Blue Wells, you've, Skylar Olsen, Zack Giffin, Giffin, Louise Beaumont, Getty, Rebecca Zisser, Muhammad Alameldin, Gavin Newsom, Joyce Higashi, Tiny, Newsom, Alameldin, It's, Barbara Clark, Sandoval Organizations: Service, Consumers, California, University of California, Housing Innovation, state's Department of Housing, Gov, Washington D.C Locations: California backyards, Wall, Silicon, Bay, Blue, South Carolina, New Hampshire, San Diego, Denver, Portland, Cities, Indianapolis, Austin, Colorado, California, ADUs, Jose, While California, —, Washington, Jersey, Sonoma .

☆ It's about to get easier for homeowners in Denver to build tiny homes in their backyards
▼ + stars: | 2023-07-03 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Denver's housing shortage has reached crisis proportions. When the law goes into place on Wednesday, homeowners will be allowed to build ADUs big enough to house a family. Courtesy of AboduSince 2018, more than 60,000 new units have been approved throughout the Golden State, which has an estimated housing shortage of 2 million. She also serves as the Director of Planning at the Denver Housing Authority. Keeping families togetherAlonso Carrillo-Muñoz, a Spanish-speaker, who has lived in the West Denver area for over 20 years, was a part of the WDRC's ADU pilot program, per WDRC.

Persons: —, They'll, Chris Herndon, Renee Martinez, Stone, WDRC, Alonso Carrillo, Jon Paciaroni, Miriam Carillo Organizations: Service, City, Denver, Golden State, West Denver Renaissance, Denver Housing Authority Locations: California, High City, City of Denver, Sonoma ., Golden, Denver, West Denver, Spanish, . Denver, FirstBank

☆ Home Depot is selling a sleek modern tiny home frame with a spiral staircase for under $50K — but it'll cost far more to get it move-in ready
▼ + stars: | 2023-06-04 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

But the unit will cost you more to complete the design with windows, doors, and other finishings. The product details on Home Depot's website specify that the $43,832 price-tag includes the steel structure and the parts needed for assembly. You'll have to pay many thousands more to finish the home with doors, windows, electrical plumbing, and other details. The steel frame will not be impacted by termites, mold, rodents, and bugs, per the Plus 1 Homes product details. Tiny homes and accessory dwelling units have been gaining newfound interest over the last year.

Persons: —, you'll, Gen Z Organizations: Service

☆ A San Francisco builder converted a former garage into 3 tiny homes
▼ + stars: | 2023-06-04 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

A San Francisco housing organization transformed a garage into three small apartments. The affordable housing units cost $600,000 and are seen as a victory in the city's housing crisis. But critics told San Francisco Standard the cost of the units is high considering the square footage. An organization in San Francisco has turned a six-car garage into three 550- to 600-square-foot units, each with a bedroom, bathroom, and small kitchen. According to The San Francisco Standard, the Mission Housing units raised eyebrows among architects and building professionals.

Persons: —, Sam Moss, Rebecca Möller, Möller, Moss, I'm Organizations: San Francisco, Service, Housing, London, Mission Housing, San Francisco Standard Locations: Francisco, California's, San Francisco, Mission District

☆ I transform garages into upscale apartments so homeowners can rent them out and make passive income
▼ + stars: | 2023-03-29 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +6 min

So I designed a product that's modular — that can go inside a garage — and San Jose preapproved it. Then they are trucked to the site of the garage, along with the wall panels, and installed inside the garage. So far, I've built four units — with five more in the pipeline — throughout San Jose, San Mateo, and Mountain View. The floors are cork and bamboo, and there are solid-core barn doors inside the units. I really started doing this as a way to to solve a problem.

☆ Phoenix residents are transforming their homes to save energy and conserve water as climate scientists warn of an ever-worsening crisis
▼ + stars: | 2023-03-23 | by ( Aj Latrace | ) www.businessinsider.com time to read: +9 min

Its desert climate inspires builders whose designs prioritize conserving both water and energy. A construction worker installing wood-fiber insulation boards over an airtight membrane of the Vali Mews townhouse development in Phoenix. In 2021, of the more than 120,000 Energy Star-certified homes that were built in the US, Arizona built the highest share, 17%, or 20,140 homes. Arizona builders that tout their energy-efficient homes include Fulton Homes, Maracay Homes, and Meritage Homes. Gerald Leenerts used natural Havelock Wool insulation for his accessory dwelling unit instead of spray foam or fiberglass insulation.

☆ I built an ADU in my backyard that brings in $3,000 a month. Now I urge other California homeowners to do the same.
▼ + stars: | 2023-03-11 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +6 min

Joyce Higashi is a San Jose native who built an ADU in her backyard in 2020 for $230,000. She leases the unit out to traveling nurses for three months at a time and charges $3,000 per month. That's when I decided to put an ADU in my backyard — back before ADUs were even remotely popular in California. Courtesy of AboduThrough ADU builder Abodu, I had a 500-square foot one-bedroom ADU built in my backyard. Now, I rent the ADU out for $3,000 a month to traveling nurses for three months at a time.

☆ See how we use the $425,000 tiny home in our backyard for everything from overnight guests to an office to hosting our daughter's wedding
▼ + stars: | 2023-03-08 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +1 min

Cindy Loughridge and her husband Seth Restaino bought a house in Sonoma, California in 2021. They opted to add more space via a $425,0000, two-bedroom ADU that took four months to complete. The couple explained how they chose and furnished the tiny home, used for guests, work, and parties. Top editors give you the stories you want — delivered right to your inbox each weekday. Loading Something is loading.

☆ This collection of minimalist homes with a California flair are built in a factory, trucked to their final location, and start at $1,680 per month — take a look inside
▼ + stars: | 2023-02-25 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

Each Abodu has laminate flooring, with three different color options for buyers to choose from. The kitchen of a one-bedroom Abodu ADU in San Jose Courtesy of AboduThey also come with Bosch appliances including a dishwasher, refrigerator, oven, hood, and electric stove. Everything in this unit runs on electric. In the kitchen of this one-bedroom Abodu ADU in San Jose, the countertops are quartz and the cabinetry has a matte-black finish. The hanging lamps are an add-on called the hanging concrete pendant.

☆ Inside California's tiny-home takeover
▼ + stars: | 2023-02-24 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

For the state with the most dire housing shortage, the move could be a game changer — eventually. As the US grapples with a massive housing shortage, one possible solution is playing out in California right now — and the state may have struck gold. Oregon, Maine, and Nebraska, as well as cities like Miami, have enacted laws similar to California's. There's been opposition to ADUs from homeowners worried about the density of their neighborhoods and sometimes the aesthetics of the structures. Ultimately, the housing shortage could be alleviated, she said.

☆ A 37-year-old nonprofit exec can afford homeownership in the Bay Area only because she lives in an ADU in her mom's backyard
▼ + stars: | 2023-02-05 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Katie Sandoval Clark said the arrangement has helped her family "pursue what we really want to do." So Sandoval Clark came up with a plan. Sandoval Clark told Insider. Sandoval Clark with members of her family in front of her home, a 1,200-square-foot accessory dwelling unit. Sandoval Clark said her home has high ceilings and gets a lot of light.

☆ I built a 655-square-foot tiny home in the backyard of my San Diego rental property and rake in $2,500 a month renting it to a college water-polo team
▼ + stars: | 2023-02-01 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

He has an investment property in San Diego and recently built an accessory dwelling unit on the lawn. It's about 15 minutes from the campus of the University of California, San Diego. 7 members of UCSD's women's water-polo team live on the propertyHalf of the University of California, San Diego's water-polo team lives on Chu's property. The state made the right move allowing for ADUs, but it's still hard to get cities like San Diego on boardSan Diego. In San Diego, near UCSD, people want to live there, and density needs to be allowed for it to happen.

☆ Ghana president sacks junior finance minister over alleged impropriety
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Bernd Lauter/Pool via REUTERSACCRA, Nov 14 (Reuters) - Ghana's President Nana Akufo-Addo has sacked Charles Adu Boahen, the minister of state for finance, the presidency said on Monday after allegations of impropriety were circulated by a well-known Ghanaian investigative journalist. Adu Boahen did not immediately respond to a request for comment from Reuters. read moreThe allegations against Adu Boahen did not appear to be related to those previously raised against Ofori-Atta. Vice-President Mahamudu Bawumia said in a statement the video showed Adu Boahen "apparently using my name, inter alia, to peddle influence and collect money from supposed investors". "I would like to state that if what the minister (Adu Boahen) is alleged to have said is accurately captured in the video, then his position as a minister of state is untenable.

☆ This tiny home can be craned into your back yard to become a guest house, rental apartment or fitness studio – if you have $400,000 to spare
▼ + stars: | 2022-10-01 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: 1 min

Home designer Dwell has launched its first multipurpose backyard home. The company joined forces with Abodu and Norm Architects to build the 540-square-foot Dwell House. It can serve as a guesthouse, rental apartment, home office, pool house, or a fitness studio. Dwell has created the Dwell House, a 540-square-foot, one-bedroom ADU that fits in most backyards. It's constructed off-site and gives home owners additional space without the hassle of construction or moving.

☆ Homeowners still want space to quarantine and take Zoom calls, even though the worst of the pandemic is over. 3 real-estate experts explain the trends they're seeing.
▼ + stars: | 2022-09-02 | by ( Abigail Bassett | ) www.businessinsider.com time to read: +6 min

Quarantine spaces, flexible rooms, and accessory dwelling units (ADUs), are hot trends right now. The lower level matched exactly the kind of space Trevett was looking to build out. Additional data from the NAHB shows that demand for things like flexible living spaces, dedicated office or Zoom spaces, outdoor spaces, laundry rooms, and home technology has risen during the pandemic. Adding more living space separate from the main home has also become more important for families considering the needs of aging parents and boomerang kids. "Having a dedicated quarantine space gives me a sense of relief," Trevett said.

☆ I helped my dad get a tiny home for his Bay Area backyard. He nets $1,000 a month, and his property value is through the roof.
▼ + stars: | 2022-07-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Glenn Robinson came up with a plan for his parents: put a tiny house in their backyard for $185,000. The Robinsons clear $1,000 a month off the tiny house. I've been telling him for years, "Hey, Dad, you should put a tiny house in that backyard." I'm a co-owner of the tiny house and a bit of the project manager. My dad refinanced his home — we got a $230,000 home-equity loan and used $185,000 to pay for the tiny house.

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