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Updated almost 5 years ago on . Most recent reply

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Dayshawn Carter
  • Rental Property Investor
  • Cleveland, OH
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9
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Adding a garage?

Dayshawn Carter
  • Rental Property Investor
  • Cleveland, OH
Posted

If I add a 2 car garage to a property how much would that increase the value by?

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Andrew B.
  • Rockaway, NJ
2,139
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Andrew B.
  • Rockaway, NJ
Replied

I have two guesses.

1. It'll increase value by exactly $4,283.91.

2. You must do market analysis as we know nothing about your house, the surrounding houses, or the broader market. A good first step would be to compare the selling prices of similar homes that have a garage vs others that don't have a garage. A local real estate agent or an appraiser would be more qualified parties to help though.

I'm leaning toward number 2.

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