Looking to add and ADU to my existing home property. Likely, detached garage conversion.
What numbers should I be considering to make sure the deal makes sense to get into?
My goal is to rent it out to essentially house hack and pay less monthly on my mortgage out of my pocket. I’ve got about $100k appreciation from when I first bought and totally equity about $120k in the house.
The big pieces are:
1. How much would the ADU rent for?
2. How much would the conversion cost? (permits, construction, separate utility hook ups, etc)
3. How much would the loss of the garage impact things?
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