All Forum Posts by: Thomas Jameson

David,

Would be happy to lend an ear! I'm investor/agent but my partner run's construction company and we are in process of building 6 ADU's right now in Clovis and Fresno.

@Thomas Jameson what's up David, there are a few nuances that change with each home, different parts of town will have different things you can do to improve value. i.e. with the ADU, in some areas of town that may be a bit of a nuisance as buyers prefer a larger backyard and would rather just by a 4 bed rather than a 3 bed with an ADU in the back. In other parts of town an ADU can make the home a lot more attractive and raise value because it's likely that a larger family will purchase it and wants older kids or a grandparent to live in the back.

Apart from that, adding value to your home is better done when you are getting ready to sell it unless you want to enjoy your improvements prior.  As an example, if you upgrade the bathrooms and kitchen now, which is typical to raise value, it may be done in a really trendy way  but in 5 years the trends can change, so it's best to wait until you are ready to sell it to improve it so you are as trendy as possible with your materials and design.

as far as rent goes, the ARV in the backyard may improve your overall gross rent if you can create a separate entrance to it so that someone can rent the back separately and now you have a duplex, your rent will go down in the house slightly because you are taking away their yard space but usually that's worth it.

there could be a lot of other things that may help you improve value but you'd just need to have a walk through with a trusted realtor who knows what they are doing and they can give you some good thoughts on where to spend money and where not to.  Good luck!