SearchSecondary dwelling value
Keila asks:
(updated on Friday, February 03rd 2017)
We are currently at the cusp of deciding whether it is a feasible idea to build a three bedroom secondary dwelling on our property. We would rent out the secondary dwelling. We are wondering if this is a wise idea and how much value this would add to our property if we decided to sell in the future.
Our Experts Answer:
As a general comment adding additional dwellings is a great strategy for both increasing equity and also adding cash flow. But, in regards to your individual situation, I can’t answer specifically as there will be large differences in regards to the value added depending on the area you are based in and what spec house you are looking to put on your section.
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