Adding another garage to property worth it?

[DanielJay]

I am new to the forum and looking for some advice. I am needing to put up a new garage on my property to store and hopefully restore my late fathers 1968 Austin Healey Sprite. I have a 10x20 ft boat overhang that looks like it needs a new roof, concrete slab pored and walls/windows/doors put up. For the slab itself they want $2400 and then another $3300 for a driveway back to it. However I was thinking of adding a 3rd stall onto my main 2 stall garage instead of finishing the shed behind it. And then putting 2 garage doors on it so I still have access to the back yard. Obviously this would entail much more construction cost but possibly less on concrete cost. Only downside is that my property line is maybe 10-12 ft away from my current garage so I would need to get special permission from the county.

My question now becomes, which type of project might bring the most value to my property? Any suggestions on this?

 

[gregtwojeeps]

Lot of info here to digest but I will just say this. Do not ever count on a garage or work shop adding value(from a mortgage appraiser) .

The last home we sold the appraiser never even put my 24' x 28' garage/workshop with 3 -car carport...on his appraisal sheet. We almost lost the sale of the house because of it as it would not appraise for our asking price. The buyer had to get another appraiser and at that, he only appraised my two year old garage for $2800.00.

 

[rsanter]

How long are you going to live there?
If a short time then a garage addition will not pencil out to add value to the property.

If you will be there a long time will get the value from the use of it

Bob

 

[crewchief888]

Do not ever count on a garage or work shop adding value(from a mortgage appraiser) .

How long are you going to live there?
If a short time then a garage addition will not pencil out to add value to the property.

If you will be there a long time will get the value from the use of it

Bob

typically a large garage doesnt add anything to an appraisal.

most people only have a garage to store decorations, kids bikes, and a lawn mower.

 

[Falcon67]

>typically a large garage doesnt add anything to an appraisal.

Unless it's a tax appraisal

 

[crewchief888]

>typically a large garage doesnt add anything to an appraisal.

Unless it's a tax appraisal

so true....


kinda why i havent built bigger, and just make do with my 19x22

 

[22george]

I built a 32x64 pole barn. Material costs alone were over $20,000. It only added $10,000 in appraised value to my property. I built the pole barn so l had room to do the things l wanted to do, not to add value to my property. It ***** that it doesn't raise your property value, but that wasn't a concern for me.

 

[ZRX61]

Just a heads up:
The space needed to efficiently restore one car is 3 car spaces.

 

[psjoyal]

As others have said, the value is in your use. We all really loose out on the money end...both from property taxes and the things we do in the shop!

 

[lakeroadster]

Is your "main 2 stall garage" attached to the home?

From a property value perspective, an attached garage will bring more value than a detached garage.

 

[Playwme]

Just a heads up:
The space needed to efficiently restore one car is 3 car spaces.

Maybe if you're an efficient organized aircraft mechanic. Us plebs need more space than that. 3 bays, half the driveway, plus the back shed should be enough.

 

[NUTTSGT]

If you're going to be there for a while, build it for you not the next guy.

 

[astroracer]

I am new to the forum and looking for some advice. I am needing to put up a new garage on my property to store and hopefully restore my late fathers 1968 Austin Healey Sprite. I have a 10x20 ft boat overhang that looks like it needs a new roof, concrete slab pored and walls/windows/doors put up. For the slab itself they want $2400 and then another $3300 for a driveway back to it. However I was thinking of adding a 3rd stall onto my main 2 stall garage instead of finishing the shed behind it. And then putting 2 garage doors on it so I still have access to the back yard. Obviously this would entail much more construction cost but possibly less on concrete cost. Only downside is that my property line is maybe 10-12 ft away from my current garage so I would need to get special permission from the county.

My question now becomes, which type of project might bring the most value to my property? Any suggestions on this?

Welcome to the forum! Glad to see you here.
Forget about added value, not gonna happen.
Forget about adding onto the existing garage. 10' to the property line will gain you nothing for floor space, waste of time and money.
Forget about the driveway (for now) and put the money into the shop. If this is a work shop and not a parking garage, the driveway is moot until you have a running vehicle to put out there. Work on the driveway as money permits.
Mark

 

[cory58]

I don't know anything personally about South Bend, but it is extremely difficult in most municipalities to get a setback variance. It usually becomes impossible if any of your neighbors object.

Like others have correctly stated - don't count on any added value other than the joy you get from restoring your father's AH. One more thing to keep in mind - don't build something so cheaply that it actually lowers your property value or makes your house more difficult to sell when the time comes.

 

[Brad54]

You don't need a driveway back to the converted shed. There's no reason in the world to have a driveway going back to a work shop that isn't going to see cars rolling in and out of it for several years.
So deduct the expense of that driveway from your planning.

-Brad

 

[ZRX61]

Maybe if you're an efficient organized aircraft mechanic. Us plebs need more space than that. 3 bays, half the driveway, plus the back shed should be enough.

I didn't actually say that's how I did it, just that it's the *norm*

Bay 1: All the **** you've removed from the car & that you are currently working on/restoring.

Bay 2: The car.

Bay 3: All the **** that you've restored & is ready to go back on the car.

 

[67CarGuy]

Yeah, I'd forget the second drive too. Depending on your setup, I'd probably dispense with an additional structure all-together. Put the AH in one of your existing two bays, and do as much of the restoration as possible there/in the house/existing driveway.

Alternatively/also, find a friend (local AH clubmember?) and see if you can get some help with space, tools, or just an extra set of hands/eyes/experienced brain.