How to value a garage refurb

[Ian Jaeger]

Hey all, recently bought a property here in Dallas and am doing some work to it prior to doing a house hack / airbnb thing with it.  The majority of the house was actually in pretty good condition, but the garage was a wreck.  

I'm trying to set up a line of credit to smooth out the cash flow for the refurb and one of the things I'm struggling with is how to 'value' a garage refurb.  Intrinsically, there's value to turning an old, dingy, rodent-infested, unfinished dirt-catch into a clean, well-lit, nicely finished space complete with a stainless workbench with sink / drain, cabinet enclosed, stacked washer/dryer, matching cabinets around a large gun safe and the water heater.  And Epoxy/Poly-U floor coating.

Does anyone have any information on what a comparable set of properties with the only difference being a clean, finished garage versus an original, unfinished space is?

-Ian

[Andy Mirza]

@Ian Jaeger Whatever you do with the garage the same principles apply. Are your garage upgrades what's generally expected in that neighborhood. If so, the appraiser may give you some value for it. If it's not a widespread expectation in the community, he won't.