by Marcus Thomas 
Auxiliary dwelling units got a boost from the Charlotte’s unified development ordinance. The city of Charlotte’s approach to ADUs reflects a confident step towards creating diverse and affordable housing options while maintaining the neighborhoods integrity. Understanding and adhering to these local regulations are crucial for homeowners considering the addition of an ADU on their property.
However, it’s not enough to meet the demand; in fact, that’s a deficit of 44,000 homes. While ADUs won’t solve the affordable housing crisis, Charlotte has focused on the potential benefits they provide. In Charlotte, Accessory Dwelling Units (ADUs) are presented in the city’s 2040 Comprehensive Plan as a way to increase housing diversity which is sometimes referred to as the ‘Missing Middle Housing.’
What are you plans with the housing crisis we have in the Carolina’s? Will the ADU’s be making there way into your neighborhood, or better yet, your backyard. This may be a viable option to combat the real estate market over the next few years. Click the link below to view the laws and regulations with building behind your house
Laws & Regulations
Marcus…what are mortgage rates currently at? – August 14th, 2024
Facts: The 30-year fixed mortgage rate from Freddie Mac dropped to 6.47% this week, compared to 6.73% last week. At 6.47%, with 20% down, a monthly mortgage payment on a home with a price of $400,000 is $2,016. Compared to October 2023, when rates were 7.79%, this is a monthly payment difference of $285 —$3,420 a year.
Positive: Mortgage rates are at their lowest weekly level since May 2023. This is the biggest one-week fall in mortgage interest rates in nine months. Mortgage applications are up. Home buyers who stepped off to the sidelines while waiting for rates to fall: rates have now fallen.
Negative: Yes, this is just one component of housing affordability, and yes, home prices are still high. Additionally…continue reading
