New York is Paying Homeowners up to $125K to Build an ADU in their Backyard to Help Ease the Nation’s Housing Shortage
New York is doling out millions to help homeowners build tiny homes, named accessory dwelling units, or ADUs, in their backyards. As of August 15, the Empire State has spent $23.4 million doing so, according to New York State Homes and Community Renewal, which is in charge of the funds. This article from Insider sheds more insight on the program, its goals, and the restrictions that homeowners need to meet in order to qualify. Even if you don’t plan to participate, it’s pretty interesting to learn about this new program. Take a look and let me know if you know anyone who is actually participating in the program.
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The National Risk Index
We recently learned about a new tool from FEMA.gov which enables users to visually explore individual datasets to better understand what is driving a community’s natural hazard risk with minimal technical expertise. Users may also create reports to capture risk details on a community or conduct community-based risk comparisons, as well as export data for analysis using other software. If you’re looking to buy a property, then this tool can be a huge help. The map is very user friendly and it can show you the risk index for all of the US. Pretty cool resource.
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Everything Life and Financial Freedom Podcast
We also recently came across a podcast which is hosted by the authors of the real estate investment book “HOLD”. We just started listening but so far we love it. Jim and Linda McKissack began their journey to build passive income through real estate investing in the early 1990s. They did this after plunging $600,000 in debt! This podcast shares stories and resources on how anyone can follow a similar journey to financial freedom and build an amazing life for themselves and their family. Highly recommended if you’re on the path to financial freedom.
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A monthly roundup of content and resources specifically related to Queens Homebuyers.