Follow the creative class, and you’ll find the next best real estate market. Creatives bring the culture and vibe to an area that makes people want to live there. The neighborhood develops a persona so to speak. Once a neighborhood has a persona, it becomes a destination. And a destination means demand and value.
This new legislation supports entrepreneurship by allowing small businesses to operate out of residential homes. Residents can now sell goods and services from front yards, porches, or driveways. The modern day lemonade stand!
The initiative allows for Accessory Commercial Units (ACUs) up to 200 sqft focusing on businesses that operate in harmony with "no-impact" regulations- meaning limited traffic, noise, and on-site employment. The city doesn’t require a permit for dwellings under 200 sqft.
From my real estate lens, this will improve walkability in residential neighborhoods and create affordable alternatives to high commercial real estate costs. I predict that neighborhoods will become these active, vibrant communities of micro-businesses.
This is your sign to start that side hustle or turn that side hustle into your full blown job!
As a Realtor, I can see an increase in demand and value for homes with separate entrances, alley access, beautiful curb appeal for attracting patrons, outdoor living, additional storage spaces, and flexible parking- to name a few ideas. Can rent increase if a home is designed well for both residential living and front yard businesses? I think so.
What are some the benefits you see in this new regulation? What about the opposition?
Thank you for tuning in! This is my first video. I hope you find this valuable and interesting. I love talking about how real estate and lifestyle intersect. I’d love to hear from you. Please comment and share your thoughts.
