Barb Kelly, Century 21 Elliott Properties, 854-3070
In regard to recouping the cost, you are likely not to get it all back, but there are ways to hedge your bet. Attached vs. detached would be slightly more desirable. And in either case, making sure it is aesthetically as close to the original const will help. And my pet peeve, if it is going to be a 2 car garage, make it 2 life size cars, not a Mini and a VW.
One last thought. If this is to be an attached garage, explore the possibility of adding a bonus room upstairs that could tie in to the existing HVAC. It costs much less to build up than to build out. And if you can get the square footage counted into the heated space, you will recover a larger percentage of your investment. But with any improvement/expansion, you should be careful not to invest to much that will move the subject out of line with the predominant make up of the neighborhood.
I know a few reputable builders if you need a assistance in choosing a contractor. Good Luck with whatever you decide!
You need a survey with the deed restrictions to determine if and where you're allowed to build on the lot. Do not take the recommendation of the seller, the listing agent, or even your agent, to answer the question. You don't want to find out that some restriction exists that eliminates the ability to add the garage, nor do you want to find out that the only buildable location is right on the front of the house sticking out like a bad nose job.
If you have resources that can build the garage with little to no labor costs, then you can probably make some money on the venture. But as Larry said, having it built by a contractor would likely not pay back the full investment, but you would get some utility out of it while you lived there.
One way to consider getting more value is to look into the additional cost to add livable square footage above the garage. Occassionally, this can actually lead to value that can be recouped during resale, sometimes in excess of 100%, depending on the location, existing square footage, typical square footage in the neighborhood, etc.
A garage will add some value but, you will most likely not recoup your total investment. This is not heated living space so it is more value to someone that wants a home with a garage. As far as the zoning ordinances it depends on what you are zoned and the set backs required. For adding an additional structure such as a garage you can be pretty close to the line. I would just not get too close since you want to make sure you are not over that would be extremely expensive. My neighbor just built a garage and she is maybe two feet from the line and we are zoned RS-7. When you decide on a contractor they will let you know so they can pull the permits.
I guess to answer you first question yes it will add to the value but, not and equal amount. I prefer older homes myself and would not consider one without a garage so if some ways you can see that you expand you market of potential buyers if you add one.
Hope this helps if you have any other questions drop me a line.