Colorado Springs Housing News
StreamHome keeps you up to speed with all of the latest news about Colorado Springs
ADUs and the Colorado Springs Housing Market.
Colorado Springs Housing Newsfeed
Why Hiring a General Contractor Saves You Money on Renovations
When planning a home renovation, you might look for some creative ways to reduce the project’s costs. While you might think you’ll save by turning the renovation into a DIY endeavor, working with a general contractor can lead to a more cost-effective process. Here are a few ways you’ll save when you work alongside a professional contractor. Avoid Costly Mistakes It’s not uncommon for homeowners to avoid hiring general contractors when their projects seem fairly straightforward. Unfortunately, this often leads to mistakes that result from misunderstanding structural requirements or construction procedures. One of the benefits of hiring a general contractor is that you can trust in their expertise. They will complete the job correctly the first time. This eliminates wasted supplies, time, and labor. Take Advantage of Professional Deals and Discounts When hiring a general contractor, it’s important to look for an experienced and well-established company. You’ll avoid common...
Unlocking Opportunities: Alex Kosley’s Journey from Nonprofit Finance to ADU Innovator in Construction
In the recent episode of the StreamHome Construction Podcast, we explored the exciting world of Accessory Dwelling Units (ADUs) and the incredible opportunity they present for homeowners. ADUs, often referred to as granny flats, mother-in-law suites, or secondary units, are self-contained living spaces built on residential properties. Their rise in popularity is transforming property management and rental dynamics, particularly in markets like Colorado Springs. As the demand for housing increases, ADUs can relieve the pressure on traditional rental markets and provide homeowners with a stream of passive income. The episode kicked off with Alex Kosley, the podcast's host, recounting his personal journey. He started StreamHome Construction out of a desire to help others create income-generating spaces in their homes—something he envisioned while living in a friend’s basement. This unique perspective led him to recognize the potential of ADUs long before they gained traction in...
Colorado Springs ADU Code Change Imminent
The City of Colorado Springs ADU Code is scheduled to update on 6/1/2025.How will this impact your property? Here is what we know so far:On January 13, 2025, Colorado Springs City Planning met with City Council to review proposed changes to the City's existing ADU regulations, in response to CO State Bill 24-1152, which mandates statewide adoption of ADU-friendly code changes. Here’s what we know so far: Probably the biggest piece of news: It looks very promising that detached ADUs will now be allowed in single-family zones in Colorado Springs, where they previously were not. Property setbacks will likely be adjusted in multiple zone districts, and significantly in the single-family districts to better accommodate detached ADUs. Allowing two ADUs per property seems to be off the table (original draft from December proposed allowing 2 ADUs on basically every residential lot in the city). It appears that properties with new ADUs will not be eligible for short-term...
4 Creative Ways to Use an ADU
Accessory dwelling units (ADUs) are quickly becoming one of the best ways to make the most of your home and increase your property value. But what is an ADU in the first place, and how can you use a space like that to its highest potential? You’ll find the info you need, as well as four unique ways to transform your ADU into something special, below! 1. A Guest Suite or Short-Term Rental Perhaps the most popular use for an ADU is turning it into a money-making outlet. If you’ve ever used Airbnb or similar platforms, you know just how lucrative a separate dwelling can be. You could also turn it into a guest suite specifically for when friends and family visit; doing so will involve a lot less maintenance and upkeep, but it naturally comes with the downside of not generating any income. The best angle is to use your ADU as both! It can act as a short-term vacation rental when it’s not occupied and a separate guest space when loved ones are in town. No matter how you...
Top Questions to Ask Your General Contractor When Planning a Custom Home
If you’re considering building a custom home, choosing a contractor to take on the job is easily the most significant decision you’ll make. It’s a partnership that will shape the entire project from beginning to end, so you must ensure you find a qualified and trustworthy general contracting firm. On that note, below are some of the best questions to ask when meeting with a contractor to help you better understand what you can expect from them and determine whether they’re the right fit for the project: What Is Your Experience With Custom Homes? Even the most decorated and talented general contractors are not guaranteed to have the right kind of experience or skill sets necessary to create custom homes. Therefore, even if they’ve been suggested to you or you’ve seen good reviews regarding their work, you should confirm with the contractor that they have ample background when it comes to building a home. It’s also good to ask them if they have examples, whether in the form of...
Can an Accessory Dwelling Unit Increase the Value of Your Home?
If your home has a large backyard, you may have wondered whether you should add something to enhance the space and increase your property value. Some homeowners install an inground pool, while others choose a lavish outdoor kitchen. Something you may not have considered is an accessory dwelling unit (ADU), a compact, efficient home that can transform your property. These buildings have multiple functions and can provide additional income for your family. One question may be on your mind as you learn about backyard ADUs. Does it add value to your home? Learn all about ADUs and the advantages they can bring in this guide. What Are ADUs? ADUs are secondary housing units built on the same lot as your primary residence. Sometimes, they are referred to as in-law apartments or secondary suites. These buildings are smaller than traditional homes but offer many of the same amenities, such as: Kitchen Bathroom Living space Separate entrance It can share walls and utilities with the...
Why Hiring a General Contractor Is Key to a Stress-Free Home Renovation
Home renovations can be big projects. While it may be exciting to watch your home transform, it can also be overwhelming unless you hire a general contractor. These experts can make all the difference in ensuring a successful and stress-free process. Hiring a general contractor has many benefits for a wide range of projects, from mother-in-law suite additions to total home renovations. Understanding these advantages can help determine whether a general contractor is right for your project. Expert Project Management Colorado Springs general contractors have vast project management experience, including coordinating multiple aspects. They can manage subcontractors and ensure all work is done according to local building codes and regulations. Expert project managers keep all components on track to complete within the targeted timeline. Connections With Reliable Subcontractors An experienced general contractor has developed relationships with dependable subcontractors, such as...
Colorado House Bill 24-1152 and 3 Potential Impacts on Colorado Springs ADUs & Housing
Colorado House Bill 24-1152 was passed on May 13th, 2024, and it aims to address multiple housing related issues from housing shortages and costs to housing requirement changes due to changing demographics. The bill intends to make an impact by loosening regulation on construction and renting of Accessory Dwelling Units (ADUs) across Colorado. In the introduction to the Bill, the General Assembly determined the 3 following things (among many others): ADUs generate rental income to help homeowners with mortgage or other costs ADUs keep elderly family close to relatives at little to no cost ADUs offer affordable and attainable housing options to live in high-opportunity neighborhoods The General Assembly also made the 3 following observations: Local government regulation of accessory dwelling units varies significantly within regions and statewide in Colorado in terms of where they are allowed and this inconsistency inhibits the development of a robust ADU market. More permissive...
What is a Mother-in-Law Suite?
With the increasing popularity of Accessory Dwelling Units across the United States, many people are asking questions like "What is a Mother-in-Law Suite?" In some senses, "mother-in-law suite" is one of many alternative names for an Accessory Dwelling Unit (ADU - if you don't know what an ADU is, read this article first). However, despite many of these terms being used as a catchall that describe an ADU generally, a mother-in-law suite specifically refers to an ADU being used for a certain purpose, which, obviously enough, is to provide housing for a mother-in-law, or family members in general. While to some, the idea of your mother-in-law moving into your home sounds like a nightmare, "multigenerational living" is trending upwards, with 12% of households being multigenerational in 1980, but 20% having at least 3 generations of family members living under one roof in 2016. This is very near to the all-time recorded high for this figure from 1950, when it hit 20%. And, according to...
Accessory Dwelling Units and Affordable Housing – A Win-Win for Homeowners and Renters
Colorado Springs has seen significant and steady increases in housing prices for both homeowners and renters in the last several years. From May 2020 to May 2021, the average sales price for a Colorado Springs home jumped 25.1%, from $401,980 in 2020, to $502,961! At the same time, rent prices are up 15.36% compared to last year! It's no wonder that so many people are crying out for local solutions to affordable housing. Accessory Dwelling Units (ADUs) are part of the solution to the affordable housing crisis in Colorado Springs, and can help to reduce both the cost of homeownership and the cost of housing for renters in our market. For homeowners, ADUs present a great opportunity to utilize your property to generate passive income that can be used to pay for / help pay for your mortgage payment each month. For example, a homeowner can build an ADU on their property, finance it with a monthly payment of, say, $900, and rent out the space for, say, $1500. This allows the homeowner to...