House Hack or Leave It Be

[Sara Acord]

Hello! These may be crazy or dumb ideas, but I don’t really know anything yet  

I bought a house in 2020, but a lot has changed since then. At the time, I was married, thinking we’d have more kids, and maybe move my dad in as he ages.

Well since then, I’ve gotten divorced, decided I’m one and done on kids, and switched jobs to have a longer commute. Additionally, my kid will be attending the school district I work in, which will be more challenging in two years when they enter high school. My brother moved in with my dad, so he should be taken care of.

The house has so much potential. It’s not actually in St. Louis, but the Metro East (IL side). It’s huge. Finished attic w/half bath. Main floor has 3 bedrooms and a full bath. Basement is partially finished with 1 bedroom and a 3/4 bath. There is also a building that was previously used as a recording studio with a half bath (that isn’t currently functional).

It needs some work. Due for a new roof. Needs some kind of update to better heat and cool the attic. Basement bedroom needs to be more finished. One main floor bedroom needs new walls due to the plaster buckling. 

I plan to stay in the house at least one year, possibly two. Obviously I have a great interest rate. I will probably sell at that point rather than keep and rent out, so I can put the proceeds towards a down  payment. 

Would there be any value to renovating the studio into an ADU? Should I invest more into this property if I'm only going to have it for two more years?

Be kind! I don’t know anything, but I’m trying to learn.