All Forum Posts by: Adrian Chu

If you can re-invest in somewhere you feel is better, selling at a lower price might not be a bad idea.

Seattle openly allows 8 unrelated people in any dwelling unit.  Bellevue has a whole bunch of rules. 

https://bellevuewa.gov/city-government/departments/development/zoning-and-land-use/zoning-requirements/rentals

Cozy

The biggest thing to consider is the cost of building an ADU. I recently completed one, 800 sf, total price tag almost $300,000 for construction and soft costs, with a third-party general contractor handling the build. Financing a build would require special construction loan as well.

Would you be ok with living in the house and renting out the other rooms instead, or setting up an ADU that's attached to the home? That may be a more feasible and cost-effective approach to this.

House hacking is good.  It lets you take advantage of primary residence financing options (low rates, low down payment), save money on rent you would otherwise pay, and build up your portfolio starting with your local market where you are familiar with and have connections in.  Best of luck.

Just some food for thoughts -

Lots of opportunities to optimize land use code for profits.

Still a very strong economy here.

Amazon stock is at all time high. 

Hi Shelly. Happy to help. 

Some ECAs are more expensive than others.  There is a reason why those lots have not been developed in the past 100-150 years.  Sites with wetlands are pretty much useless.  Steep slopes are expensive.  

Plus the city still isn't gonna let you cut down that exceptional tree...

There are still many affordable properties to buy locally. The MHA rezone and the new ADU legislations, as examples, have opened up many more opportunities.

Best of luck.

High end over $2m have always been hit or miss. The house has to be super awesome and someone will buy it. 

I've recently been showing homes ranging from $800k to around $1.4m.

Yeah, I have been actively showing properties in the Eastside.  Definitely still multiple offers and bidding wars.