Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am considering getting rid of my swimming pool and converting that space into an ADU? I have been seriously thinking about. My pool is no longer in use because I have no children and my nieces and nephews have all moved away. It is just sucking up money every year. I was thinking about putting a 700-800 sq ft ADU to provide some rental income. The only drawback I can see is that I would have to take money out of my future retirement savings account. So there goes the argument Real Estate vs Stock Market. Turning 50 in a couple of days. Which gives me time to put 100% 0f the rental money back into the Stock Market (minus taxes, insurance, and property taxes).
Where?
Current RE market? (to include rental availability/cost)
Code restrictions?
Access and parking (if required/needed)?
Utilities?- especially sewer&water
The financial part of it is a personal matter that I think should be discussed with a financial planner- there could be exemptions, credits, or other options depending on the state/county/municipality you are in.
...just filling in the hole will be a major expense because it will have to be "engineered fill"- due to the fact that you may put a structure over it.
In Sacramento County. The market is in high demand, along with the demand for rent. The city allows 2 ADU. A garage conversion (which I will be doing) + backyard ADU. My lot has enough space for both. Parking won't be an issue; I am turning my front yard into a parking space anyway. Sewer and water won't be an issue either. Currently changing out to a 200 amp to a 400-amp panel to handle the main house, along with the garage ADU.
The only really downside is taking money out of the stock market to finance this backyard project. I have a feeling my Financial Advisor may be against it. I purchased my house in 2010 at $200,000 at its near $600,000 today. So, I feel comfortable with that increase in value. For the record, this will be my forever home unless I retire oversea
I have an in-ground swimming pool and I can't imagine turning it into some sort of a living space. Assuming that is what you are saying.
Accessory dwelling unit. Pretty much a tiny home. Thinking about turning it into a rental property. At this moment, the pool is just wasting away. Even in the hot summers, I am just sitting inside my house. I went outside one time so far this summer to take a 3-minute dip.
If rentals are in demand and you don't mind the interruptions and would like the income and your zoning and neighbors will allow it, then that's good. It is becoming a popular idea in lots of areas.
That said, turning a hole in the ground (pool) into a buildable surface is not as easy as it sounds. It might happen that the exact ground that has been filled from the pool will not be the most suitable part of the property for a building.
Talk to some contractors and the building dept before you go too far down this road.
If you have the room, build a pool house next to the pool. You could probably make up the maintenance of the pool by being able to charge extra for the rental with pool access.
Is the garage a stand-alone? If so, I’d be building “up” and saving some yard; or maybe the pool- extra perk (increased rent price).
No. Garage is Attached.
Quote:
Originally Posted by springfieldva
If you have the room, build a pool house next to the pool. You could probably make up the maintenance of the pool by being able to charge extra for the rental with pool access.
Not enough space. It has to be the pool or the ADU.
Well, if the garage is attached I’d be quite leery of making it an “ADU”- last thing I want is a “neighbor” on the other side of a wall in what should be a true SFH.
It would probably also not appraise well… or not as it is now.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
