Attached Housing

[Jeff S.]

Has anybody done this with an existing house? My situation is an older home with zoning allowing attached housing.

One choice is to attach a building and have it match the existing design, probably with garages in between and dormers over the garages. The existing house would require new siding, windows, roof, probably relocating the front door, and going through the interior, leveling floors etc. Looks like 50-100k. Adding 2nd unit maybe 120-200k.

The area had units built in the heyday that sold for over 400k. Haven't analyzed current market yet but would probably rent one and live in one. Considering living there 2 yrs, selling and doing it again.

The easy alternative is to build an accessory dwelling limit of 800sf. Simple deal, probably 80k and I am done. This would be used for student or elder care, or just a single.

From a rental standpoint the accessory dwelling has the best return on investment. From a resale viewpoint the attached housing should be a homerun. The land is free.

Thoughts please.