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Updated about 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Austin, TX
18
Votes |
26
Posts

New 2/2.5 house downtown...what would U do to add property value?

Account Closed
  • Rental Property Investor
  • Austin, TX
Posted

Here are the specs of the new built house my wife and I purchased near downtown ☀️ Austin, TX :

Builder split lot into two sub units:

Unit A:

Price: $650,000

Size: 1,800 sq. ft.

Bedroom: 3

Bathroom: 2.5

Has garage

Unit B (we bought this one):

Price: $479,000

Size: 1,100 sq. ft.

Bedroom: 2

Bathroom: 2.5

Has garage

My wife and I would love to add the maximum amount of value with $15-30k as we are already putting down 20% to get rid of that nasty PMI. We would love a 🏊🏼 but not sure, maybe add a 3rd bedroom but not sure, maybe convert the garage, again no idea. Since it's a new build and doesn't need any "rehab" how would you add value in this case?

Most Popular Reply

User Stats

10
Posts
16
Votes
Trey Farmer
  • Specialist
  • Austin, TX
16
Votes |
10
Posts
Trey Farmer
  • Specialist
  • Austin, TX
Replied

You won't be legally allowed to add any sf (which includes converting the garage) since the ADU is already at 1100 sf (which is the max allowed). You could wait a few months and see how the new code shakes out, there's a chance your entitlements may increase.

 Can you add a bedroom within the existing floor plan easily?  If you bought it new, you paid for all the new, so doing work on it likely won’t get you much more value.  Maybe upgrading the appliance package or adding some curb appeal or create an outdoor entertaining space?

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