You’ve most likely seen and heard of the he-shed/she shed trend (I promise I don’t mean “he said, she said,” as that is one side we don’t want to take. Ha!) If you haven’t heard of them, well then happy Googling and Pinterest searching! It’s a fun topic to explore.
While redesigning and repurposing sheds are great, there is a new concept, or really more of a “fresh” take, on secondary spaces happening in the DFW Metroplex. That’s Backyard Cottages, or more accurately, Accessory Dwelling Units. They are also known as Granny Flats, In-Law Suites, Carriage Homes and Second Units.
While McKinney adopted standards for Backyard Cottages a couple of years back, the cities of Denton and Dallas didn’t jump on board until 2018 and Plano just joined the initiative in February of 2019.
Each area has its own set of standards and regulations for allowable Accessory Dwelling Units, but the overall concept brings an opportunity to residents who would likely own these units. An additional revenue stream. Talk about an amazing investment opportunity! And for those living there, an affordable housing option when it can sometimes feel restrictive or prohibitive to live in an area.
Of course they could be used for actual in-laws, but should you be looking to ramp up your revenue stream, this is one fantastic resource. While all areas aren’t available in these cities, thousands of homes become viable opportunities to explore this idea. There are many elements to consider, from design, parking, and other space restrictions, but this concept has great potential. Wondering how you can capitalize on the new city ordinances? Give us a call at 214-267-9222 and we can help your resource and exploration partner.
This opportunity in housing is one we find very exciting and we look forward to seeing the opportunities grow. Tell us what you think in the comments below!
Learn more about each cities ordinances here: