Frequently asked questions
What is a YIMBY home?
YIMBY stands for Yes In My Back Yard. It also stands for Your Integrated Modular Backyard Home. A 'yes in my backyard" home is a detached accessory dwelling unit (ADU) added to a property with an existing house. A YIMBY Home is a 550-square-foot, city-permitted home that can be used as a rental or a permanent dwelling. It comes with modern appliances and full utility connections.
What are the rules on backyard homes?
The rules vary by city and can be quite complex. In Portland ADUs can be up to 800 square feet or 75% of the size of the original home on the property. Portland, Vancouver, BC, Los Angeles, Denver and other cities are reforming regulations to make it easier to build ADUs, to add low-impact housing to popular cities. YIMBY simplifies the permitting process through standardized factory production. For more information about regulations check the website accessory dwellings.
Who can live in a backyard home?
Renters, family and friends are common ADU tenants. Owners sometimes use ADUs for short-term rentals for Airbnb et al., but cities are clamping down on that practice due to complaints from neighbors. Some cities are exploring ways to use ADUs to house the homeless. The most common uses of backyard homes are market-rate rentals, housing for family and friends, and aging in place.
How much do backyard homes cost?
The price varies widely depending on customization, materials, and the homeowner's willingness to do some of the work. The average price in Portland is about $175,000. YIMBY cuts the price to $125,000 through modular design and lean manufacturing processes.
Who is a typical customer?
A typical ADU customer is an urban home-owning couple eager to gain a reliable income stream for future financial stability, while also increasing the value of their home. Other customers include people wanting to help family members age in place, and homeowners who want to downsize into a smaller space while gaining rental income from their main home.
What is the return on investment?
YIMBY Homes offer a compelling ROI. Monthly rental income can nearly double the monthly loan repayments. Similarly sized ADUs in Portland are renting for $1,250, depending on location and vacancy rate. Monthly payments for a $125,000 30-year HELOC at 6% are $749. Add in the costs of property taxes, maintenance, management, utilities and insurance, and you still get a compelling investment. It's all about supply and demand, and smart, urban housing is in high demand.
Where do backyard homes work best?
Wherever there is strong demand for housing, backyard homes add supply. Urban neighborhoods with vacancy rates rates of 10% or lower and correspondingly high rents are good locations for ADUs.
What makes YIMBY Homes different?
YIMBY's panel-assembly modular design was created with dense neighborhoods in mind, to enable quick, low-impact transportation and in-yard assembly. The simplicity of our design and our lean manufacturing drive down costs to us and prices to you. Click here for more information about the YIMBY Homes solution.
How do ADUs impact property taxes?
Similarly sized ADUs in Portland add an average of about $1500 per year in property taxes.