Michelle, Home Buyer in Cape Elizabeth, ME

How much value would I add to my home if we built a 2 car garage with a bonus room and a breezeway in Scarborough.?

Asked by Michelle, Cape Elizabeth, ME Fri Jun 15, 2012

We currently have no garage at all, just a shed, but we are trying to figure out if it makes sense to make such a big investment.

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Answers

4
First consideration is your "quality of life". Every decision to add value to your life is important and may not give you an immediate return on investment. Certainly adding a garage and bonus room "will" add value probably equal to the cost of the job.
0 votes Thank Flag Link Sat Mar 22, 2014
Hi Michelle,
Everything you do in real estate first has to take in location. This is very important !
You never want to "over build" for the neighborhood or location.
If there are similar homes around you with those additions and they are in good condition,
it could give you a decent return.
I do have a chart called Remodeling Cost vs. Value. You would be surprised at this information.
Glad to send it to you.
laurab@laurabyther.com
0 votes Thank Flag Link Fri Mar 21, 2014
You will get your money back, but might not make a whole lot more than that. However, the number of potential buyers will increase which should reduce market time and need for price reductions and hopefully get you closer to asking price.
0 votes Thank Flag Link Tue Jul 10, 2012
It depends on the square footage of the finished space and the quality of materials you use. Hard to answer this one online.

I would be happy to come by and take a look. I could do a CMA with and without the garage. Send me an email if you want me to take a look.

Thanks,

Doug
doug@makemaineyourhome.com
0 votes Thank Flag Link Fri Jun 15, 2012
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