Home Selling in Atlanta>Question Details

Tim Quinn, Other/Just Looking in Buford, GA

We have a 2 car garage and want to add a detached 2 car. What should it add in value?

Asked by Tim Quinn, Buford, GA Sun May 11, 2008

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14
Hi Tim,
My husband is a builder in Catersville. He has built addlitional garages on our homes for homeowners or clients ranging in price from $18,000 for a simi attached single garage totally finished to two car detached with attached breezeway from $25,000 to $35,000 totally finished interiors with stair cases to the attic area vs. pulldown stairs. Same exterior finishes as you have mentioned. A few of these homes have come back to me to list over the last few years and we have re-copped all the value. We do think that $50k is high for a 2 car garage. You might ask you contractor to show you a breakdown on his cost and fee. Hope this helps.
2 votes Thank Flag Link Mon May 12, 2008
Get an Appraiser. Get an Appraiser. Get an Appraiser. Had to fill up 25 characters for Trulia. Sorry.
1 vote Thank Flag Link Thu May 29, 2008
If the garage could then be easily converted to another use for buyers who don't need a 4 car garage (such as a big workshop, a detached office, guest suite, recreation room, "man cave", etc. it will be more marketable. It sounds like you're planning to finish it nicely. I'm assuming you'll have electrical service to the garage. The more multi-purpose you're able to make it, the higher I'd expect your percentage of return to be.

Good luck!
1 vote Thank Flag Link Sun May 11, 2008
It would likely not return the cost, especially if it is uncommon for homes in your area to have such a feature. If it is a common feature, it may return more of the cost, but it is still unlikely to return the full cost.
1 vote Thank Flag Link Sun May 11, 2008
Tim - Should add some $25,000 to $30,000 to the eventual sale price of the home - Having said this, sight unseen, could be more or less, depending on the situs of the house, location in the subdivision, type of construction (brick or siding,etc.) and other factors. If you like, I would like to come by and see the house.

Ed
1 vote Thank Flag Link Sun May 11, 2008
Tim - first of all, you need to give me more information, where in Buford are you, and what age is the home, and most of all, is a detached garage allowed by the zoning code where you live. Some areas require attached structures only, or you would have to get a variance.

Without this information I cannot give you a value, but surely it will not add up to the amount you pay for it, maybe 60-70 percent of the cost to build will be the eventually add on value.

Ed Francell
Prudential Georgia Realty
770-633-7576
1 vote Thank Flag Link Sun May 11, 2008
Tim: an important factor is what does this add compared to the surrounding homes, especially those on the market and competing against your house - if you were to sell. This could make the difference between your house and the competition! ;-)

Ramiro Garcia
Web Reference: http://www.DweLLintown.com
0 votes Thank Flag Link Fri Jun 6, 2008
While it is hard to predict what the Detached Garage will add in value to your home, it is a great idea especially if it is something you have a need for while in your home. In the future when you make the decision to put your home on the Market, it is a Great Selling Point. For instance if your home does not have a basement, some buyers will view the Detached Garage as equivalent to an un-finished basement, especially if it can be used as additional living/storage space, such as a two-story Gargage.
Web Reference: http://www.agentcox.net
0 votes Thank Flag Link Mon May 26, 2008
It might. Check the link reference and read over some of the principles of value as it pertains to home values.

Good luck
0 votes Thank Flag Link Mon May 19, 2008
Tim - The market dictates the amount of increase or decrease in value any addition contributes to the property at any given time. It is calculated by matched pairs analysis among other things. Appraisers are licensed to provide a determined value, agents aren't. The previous answers that provided a value figure have infact provided an appraisal. By doing so they have misrepresented themselves as an appraiser unless they possess an active valid appraisal license, even so, they can be held liable (sued for difference) if the value they provided is incorrect.
0 votes Thank Flag Link Mon May 12, 2008
It will depend on other factors also. While it is possible to over improve (based on current value of home) the main reason for such an improvement should be if you will enjoy, use and need it. While really no improvement will get 100% back at time of sale, many improvements will help the sale of a home. Generally speaking a garage will add somewhere between 5-15,000. This is a large range however there are other factors such as style of home, what it compares to (in neighborhood), etc. Especially in this market, it may not add that much however if you wait to sell (until a better market) you will probably get more out of your improvement.
Let us know if you have any other questions.
Steven
Web Reference: http://www.purrfecthome.com
0 votes Thank Flag Link Mon May 12, 2008
Garage additions and renovations are a hot building category with usually good upside. Just make sure that the space is efficient and practical from floor to ceiling - storage options are plentiful nowadays, and you can buy a "Cadillac" or a "Chevrolet" depending on your budget.

Adding smart appliances, and all of the right systems will translate well for many buyers at resale, even if they plan to use the space differently.
Web Reference: http://intowninsider.com/
0 votes Thank Flag Link Mon May 12, 2008
Thanks, guys. We didn't expect a full return. and it looks like it will cost us around $50-55K for the garage we want. (brick/Hardiplank, coated floor, storage area overhead, finished walls and ceilings). We like the house and area but had tried to sell and move closer to work last year. Given the market we are just thinking about doing the things we want with the house and staying for a few years
0 votes Thank Flag Link Sun May 11, 2008
Ed, We live just off Riverside Rd near the intersection of GA 20 and Suwanee Dam Rd. I said detached becasue it will be somewhat freestanding, but will be attached by a breezeway. Our home is 8 years old and the subdivsion has about 35 houses with a price range from app. $325 to over $500K
0 votes Thank Flag Link Sun May 11, 2008
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