Getting More From an Investment
A homeowner and landlord in Seattle had a rental property on a huge corner lot. She realized there was so much space being unused. But how to increase the value?
Building a MyKabin home was the solution.
Getting More for Unused Space and an Affordable City Home for Others
Nancy Martin purchased a home on a corner lot in 1994, has rented it out since 2004 and plans to keep it as a long-term investment.
As time went on, she evaluated how to get even more out of her property. The home was on a sizable lot, and the existing home on it only occupied a third of the property. So she thought, why not do something with all that extra space on the lot?
When the Seattle City Council unanimously passed a resolution allowing landlords to build an extra dwelling on a lot they didn’t live on, she decided a backyard home was the right answer.
“If you can make a residential neighborhood more accessible for rentals, it’s far more desirable than an apartment,” she stated.
Searching for the Right Builder
Nancy began calling contractors but found an insensible set of process, people, permits, and prices.
“During the conversations they were quoting prices of about $300,000 for these small, little homes.”
Nancy continued: “The reality is that many of these builders don’t want to get in the business of backyard homes. They will give you a bid, but will often over-bid because they generally only want the bigger projects and don’t want the smaller projects.”
Discovering MyKabin: A One-Stop-Shop
A contractor recommended MyKabin and Nancy called them up. They walked the property and helped her visualize how they could make her additional rental home a reality.
“What’s beautiful about this company? They do it all!” She said. “All I do is write a check. They deal with the city, and the permitting, and the water and sewer. They just made it simple for me to figure it out. It’s a one stop shop.”
Nancy really appreciated the MyKabin team’s experience and honesty. She was assigned a project manager who kept her updated every week on anything from potential delays to city permitting and style options.
“MyKabin makes it easy because they take care of it for you. There’s never been an issue, ever. Honestly, these guys really want to do a great job. They just want to make it happen for the homeowner.”
Nancy Martin | Seattle
According to Nancy, the MyKabin team was straight-forward, and there were no surprises along the way.
“They laid out everything,” she said. “They were very straightforward when I signed the contract. Everything was just upfront. That’s what I loved about this whole process. Nobody wants to have hidden costs. Nobody wants that sticker shock. MyKabin’s prices were given upfront and there were no surprises.”
Looking Toward the Future
When asked if she would recommend MyKabin to other people who are considering building a backyard home, she unequivocally said yes.
“I totally have!” she exclaimed. “I’ve already recommended MyKabin to my co-workers. At work, my computer screen savers are photos of the latest progress on the house, so all my co-workers wander by and want to see how it’s going.
“Some of them have already contacted Rob to see what they could do to what their landscape looks like.” Nancy summed up her advice to others considering a backyard home: “Make your lot work for you.”
Looking to Invest in Your Backyard?
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