Thoughts on SFH with ADU for First Investment
I am considering purchasing a SFH with an ADU in the backyard, with the plan of living in the SFH and renting the ADU.
I am concerned about our exit strategy on this. The ADU does not have a private entrance; you enter on the side of the SFH and they both share the same back yard.
It is at the top of our budget already and needs potential mini-split HVAC added to it to bring highest Air Bnb value. The ADU would offset our mortgage enough to where we would be paying on average around $1,100/month as opposed to the $1,600/ month we are paying currently for rent. Ideally, I would like a traditional duplex for a long-term buy and hold position.
This will be our first home purchase so I want to make a solid decision.
Duplexes are going very fast in my area with multiple sight unseen offers just hours after posting. I don't know if something will come up down the road, which then we will have to rethink our REI strategy.
Just would like to hear some of the communities input. Thank you!