Quick now, no Googling, what’s an ADU?
In the next half hour you will learn a lot about ADUs – which, by the way, are accessory dwelling units and recently California law has made it much easier to site an ADU on an existing homesite.
That’s good because California’s homeless crisis only worsens and one step in the right direction is more housing.
Other parts of the country – from Portland OR to Connecticut and Austin TX – also are embracing ADUs.
By the way, you surely have heard other names for ADUs. They’ve been called granny flats, casitas, in-law units, and lots more. They have also been part of the housing scene for many decades but what’s happening now is a regularization of the concept.
Enter Anthony Dedousis, founder and CEO of Revival Homes in Los Angeles, which he created to help more homeowners more easily fund and build ADUs on their property. Revival Homes does this in two ways. It has a vetted roster of contractors and it also wants to help homeowners get financing for their ADU project. Central to the approach to financing is that value will be based on value with the ADU in place.
Where do credit unions come in? Dedousis sees credit unions as ideal partners in putting financing packages together. ADUs, in many ways, are being promoted as a way to alleviate various social issues and that kind of concern has long been central to the credit union mindset.
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