Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Portland Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

10
Posts
3
Votes

Portland basement strategy - to ADU or not?

Scott Pennington
Posted

We're in the middle of a value-add on our primary residence in Portland, OR, building out the basement to take the house from a 2/1 to a 4/2. Used a HELOC for much of the work and will roll it into a refi when we're finished.

Suppose this question is targeted more at those familiar with the specifics of Portland, but what we're wrestling with right now is whether to spend the extra time and $ to make the basement space a fully-permitted ADU, or whether to wrap the work and get to the refi sooner, with less $ outlay, since using the new space as a LTR is not an immediate priority.

What this boils down to is: how much of a premium, if any, should a permitted ADU add to our refi appraisal vs. just the additional 2/1 living space? FWIW the house is in the Sunnyside neighborhood, just north of Hawthorne/west of Tabor.

We've tried to study the limited sale comps over the last few years but it's been difficult to get a great read on how Portland appraisers are treating ADU space these days.

Loading replies...