Declares that it is the purpose of this act to: (1) Increase the supply of affordable housing without government subsidies or the provision of additional public facilities;

(2) Encourage moderately priced for-sale housing in single-family neighborhoods and increase housing opportunities for people in a variety of life cycle stages; and

(3) Provide homeowners with an additional option for the portion of their property that is not required for the use of the existing residential unit.