Colorado Real Estate News - Denver Colorado Homes for Sale
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Arvada Real Estate | City Council Votes
Local Arvada residents with accessory dwelling units more commonly called granny flats can legally rent out space in their home, which is a new development as of July 2, 2007.
The decision to allow renting out part of one’s home came after the Arvada City Council voted unanimously July 2 to amend the city’s land code to permit the units.
Typically, accessory dwelling units take the form of renovated basement or attic space, a detached dwelling on a home’s property or a remodeled garage. Arvada is one of the first Colorado cities to approve the use of accessory dwelling units, along with Grand Junction, Fort Collins and Boulder, according to recent press release.
Perhaps the biggest advantage in a changing real estate market is the granny flat’s ability to provide another choice. This gives more options to homeowners according to an expert in Arvada’s planning department who has been working on the issue. Those same officials support the advantage to baby boomers looking to rent a portion of their homes after they become empty nesters.
We at Legacy Real Estate Brokers Inc. agree that this will help people who have been living in their homes for years who have fixed incomes and want to continue living thereto make some extra income.
According to a study by the Municipal Research and Services Center of Washington, if one in 10 single-family homes built before 1975 maintained an accessory dwelling unit, 3.8 million rental units would be generated. Those numbers would translate to Arvada on a smaller scale, but still make a large impact and residents would be the ones to see substantial benefits.
Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in Denver Colorado. You can visit their website at www.discovercoloradorealestate.com.
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Denver Colorado real estate experts Legacy Real Estate Brokerage, Inc. is a full service Colorado real estate firm specializing in Colorado real estate for sale including purchasing a Colorado custom home. They have outstanding brokers who are highly familiar with the neighborhoods, communities and lifestyle options available throughout the Colorado Real Estate market.
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