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Updated about 9 years ago on . Most recent reply

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4
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Caleb Mock
  • Jesup, GA
0
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4
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Will one of these 2 items help my investment?

Caleb Mock
  • Jesup, GA
Posted

Can anyone help me make an investment decision?

Recently I purchased a SFH in a small, rural neighborhood in Statesboro, Ga. The house is a 3 bedroom, two bathroom 1200 sq foot starter home on 3/4 an acre of land with no carport or garage, only a paved driveway. The neighborhood consists of about 8 houses that are built exactly the same (all without a carport or garage).

My intention is to live here for a year and use it as rental when I purchase another home next year. I have been working to add value in the house by improving landscaping and making small fixture upgrades. I bought the house for $80,000 and it was appraised for $98,000. 

I am trying to decide if I should purchase a metal pre-fab carport for the house (one from the linked brochure). The carport would cost $800 plus $500 for installation without closing it in or $3,500 plus whatever it costs to prepare the site, build a concrete floor, and do a few small finishes on the inside (power, lights, etc.).

If I am going to use the house as a rental, will I get enough value by adding an external carport or garage to pay me back? Has anyone added an external building to a rental

Carport Brochure

Thanks in advance!

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