Adding a Detached Garage

[Sarah Murray]

Hi there, new member here. I purchased a house in a transitional neighborhood in a city where 1:2 homes on the market has been flipped. In the 16 months I’ve been in my home the value (redfin/and Zillow do grain of salt) has nearly doubled what I paid due to some expensive flips a block away. Bought mine as a partial flip and I’m slowly completeong the reno while living out of it until more houses in the area turn. 

I want to add a garage for personal use and resell value since I have the room in my backyard (double lot) and my drive way only holds 1 vehicle. My concern is that there are no garages in any houses in my neighborhood. Will this investment impact me negatively when I sell and the house is appraised? Any rough formulas to figure out how much is worth spending on a garage? I’m planning on a 2 car garage (inc foundation), pulling in electricity, and I’ll have to pave from the current driveway back 50’ to the garage. I plan to continue living here for 2-5 years.