Washington passed new housing supply laws. What they mean for investors.
By Mina Mina · Real Broker, LLC
Washington signed a package of housing supply bills this spring aimed at letting more homes get built. For investors and anyone thinking long term about our market, the direction of travel matters more than any single line item.
The gist
One of the headline bills requires larger cities to allow housing in areas zoned for commercial and mixed use, which analysts estimate could open a large amount of new land to residential development. Other bills target middle market for sale housing and rural accessory units. The state is trying to make it easier to add supply.
Why an investor should care
More allowed density can create value add opportunities on the right lots, and over time more supply helps affordability, which supports a healthy rental base. It also means the rules of what you can build are shifting, so due diligence on zoning is more important than ever before you buy with a plan to add units.
If you are eyeing a property where the new rules might unlock something, send me the address and let us look at it together.