About this Talk
What if you could sell your non-subdividable backyard to someone that wants to build in it?
What if you could sell your house and use the proceeds to downsize into your backyard?
Both of these are possible! In this session, we'll discuss how to create a condominium ownership overlay so a homeowner can let someone else build a small home in their backyard in exchange for a "right to build" fee. The method utilizes ADU and multi-family zoning rules and condominium law to achieve this.
Why we love this strategy: Creates new, naturally affordable building lots and ownership opportunities Doesn't require changes to dimensional regulations Potentially financeable with traditional construction loans Allows homeowners to sell their house and then downsize into a small home they build and then own in their backyard. This eliminates the "becoming a landlord barrier," which prevents many elderly residents from downsizing into an ADU on their land Allows homeowners to add a unit to their property without taking on additional debt, becoming a landlord, or agreeing to a developer's land lease– all of which are barriers to backyard infill development.