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Resale value--attached garage

Posted by nerd (My Page) on
Mon, Apr 9, 12 at 8:51

We are looking to remodel our 1940s era home: the kitchen and all of the bathrooms need to be remodeled and we would like to add a casual family room/playroom. We have a detached two car garage opposite the house which is not ideal in the winter and I would prefer to have something attached (safety). We have a design plan that gives us everything we desire but it comes with a hefty price tag (500k!) this includes an attached 3 car garage with an office space and relocating the kitchen to the other side of the house) We are weighing this against the option of foregoing the attached garage and relocating the kitchen and instead remodel our existing spaces while adding on to the kitchen to create a kitchen/ great room). We suspect that this option will be a lot cheaper and still give us what we want minus the attached garage. (i am hoping we could do everything for $250k). I am wondering how much value is added with having an attached garage. We wouldn't be looking to move for at least 20 years. We live on a private driveway and we are going to install an access gate once the renovation is complete.

Follow-Up Postings:

RE: Resale value--attached garage

How far away is the garage from the house?

I have owned a number of houses that have had previously detached garages 'attached' and the new space used as in inside patio (lots of windows) or a playroom.

RE: Resale value--attached garage

The garage is across the driveway from the house. I would guess it is 25 -30 yards or so.

RE: Resale value--attached garage

Look at keeping things in the same spot, but adding a porte cochere/breezeway to connect the garage to the house and to be able to stop and unload groceries before putting the car away. You would at least be able to have a covered walk to the house out of the worst of the weather.

Doing an expansion instead of a relocation will still involve redoing basic structural elements of the home, including electrical, plumbing, HVAC, roofing, siding and interior finishes. You might be able to knock off a bit by not relocating the kitchen, but don't expect the addition and all the baths, etc. to come in at that much less. You are talking about redoing all of the most expensive square footage in any home.

Have you explored what the additional 450-500K could purchse if you were to sell your current home? Do you have any DIY skills to be able to whittle off some of the $$? What about acting as your own GC?

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