Unique House Hacking Plan

[Anthony Sgro]

I’ve been contemplating building an addition on my primary residence and turning it into a house hacking opportunity.

I currently live in a 4 bedroom, 3 bath house that has an in-law-suite. It is attached to the rest of the house, but it is a converted garage. The suite only consists on a large living room and a full bathroom. I would like to build an addition on the side of the suite that includes a kitchen and possibly a small bedroom. I’m estimating that I can pull around 800-1k in rent when completed.

I have a few questions:

1. What would be the estimated cost of the project?

2. Do you think it could be a good investment for the future? My strategy is it at least hold the property for 7-8 years past the completion of the project and possibly rent out both sections of the house when we move.

3. Would it negatively effect the price of the house if I decide to sell in 7-8 years? The area consists of all high priced, single family houses. Very few if any residences are rented. Just seeing if my house would be made so abnormally that I would have a harder time selling it if that’s where I decide to go.

Thanks!