ADU in Sunnyvale CA cost
Hi everyone!
I'm (26M) super new to real estate investing and this is my first post ever so thank you for any help! Because I value your time I wanna keep it concise
1. I bought an 3/2 SFH in Sunnyvale in 2022 on about 6400sqft lot
2. The home is about 1300sqft
3. I am a software engineer making about 250k+ a year
4. I have about 150k in stocks which are liquid
5. I currently rent out one of the rooms in my house for $1100/month, I use the other two rooms
6. I have been thinking about adding an ADU, probably a 2/1 or a 2/2!
7. Doing research online, it seems the price of an ADU might be around 350k
8. I'm pretty handy, I demolished the kitchen myself, put down flooring, and electrical wiring and all that.
Questions
1. Is building an ADU a good idea right now, or ever in this area? At the cost of 350k, it's quite a lot and I would have to borrow about 200k. How should I think about this?
2. Could I hire someone to do the foundation, utility connections and framing, then do the rest myself to save money? Is that a good idea?
3. Are there any alternative investments you would recommend me? I also have a 300sqft detached garage which I keep all my tools in, potentially could convert that. (but where would I put all my tools?)
Thanks everyone! Excited to be a part of this community