Freehold Township may not allow you to convert a garage into a house but it doesn't hurt to ask. Contact the planning and zoning dept at the municipal offices in the town and they will let you know for sure. Typically to do that the land would have to be zoned for multi family or subdividable in order to add another dwelling... more
Regardless of whether this is a duplicate, I will answer anyway. Since I review every appraisal done for my clients, I can honestly say that you get the biggest bang for your buck finishing a basement, as long as you don't go overboard. It usually makes a difference of $10,000 on appraised value.... more
My actual recommendation may vary depending upon the complex and how many other finished basements existed there. For example, in one complex that I am thinking of (not in Freehold) - none of the basements are finished, and most are used only for storage. Overall, most people like and fill more space if is available.
Since you just purchased the unit, do you plan on staying in the place for several years. If so, more so than the investment question is the value that you will personally derive from using it. If you will use and enjoy the space, then my suggestion may lean toward finishing. The budget and finishing details should be guided by the neighborhood values and offerings. You wouldnâ€™t want to over improve for the neighborhood.
Deborah â€œDebâ€ Madey
Peninsula Realty Group... more