Sloan's Lake ADU Denver, CO
WHAT MOTIVATED YOU TO BUILD AN ADU?
More cost effective way to get another rental. Offset our expenses and generate cashflow
WHAT RESEARCH DID YOU DO BEFORE YOU DECIDED TO BUILD?
Hmmmm not enough research! Mostly zoning to make sure we could build a 2 bedroom to make the numbers work.
WHAT WOULD YOU HAVE DONE DIFFERENTLY DURING THE ADU PROCESS?
Get clear on how finish materials would be purchased. Logistically and by who to make sure that design wishes and budget work in harmony. Ask for plan review by qualified professional - EG 10' ceiling sound cool but makes for a really large building!
HOW WOULD YOU RATE YOUR SATISFACTION LEVEL WITH YOUR ADU?
Super satisfied. Game changer in making the numbers work for a rental in an expensive and desirable location. Grossed $26k in short term rental revenue (during a pandemic) and $8k in long term rental income in 2020
DO YOU HAVE ANY COMMENTS THAT YOU WOULD LIKE TO SHARE WITH SOMEONE CONSIDERING AND ADU PROJECT?
Stress test your timelines and budger with both your builders and lender. Confirm those partners have experience with ADU's or construction (for the lender) in general Confirm builder has experience in the specific city you're building in if known for being challenging.