Convert Garage to Add Value to 2 Bedroom 1.5 Bath House

[Sandra Demetrius]

How can I add value to this home: I'm considering buying a 2 bed 1.5 bath 2 story house with 2 car detached garage (with the house as a primary residence). Very well kept cute house in a decent suburban neighborhood. It has been on the market for a while because most people need more space, and it's just me that plans to live there. I want to house hack, but the only way I could see it happening is to convert the 2 car garage into a short to medium term rental (I don't want strangers in my house), and sell it as an in-law suite when I resell the house eventually. There isn't any space to add an extra bathroom. Since 2bd 3 bath homes generally sell faster than this one would, do you think this is a good way to add value to the home for when I sell it?

[Nate Sanow]

As someone who owns something with a garage conversion I will say some people don’t mind them but some people really dislike them. It’s tricky and a little more manual to find comps there have converted garages but I’d suggest looking at those numbers. If they don’t lag behind too bad from a resell standpoint you could be okay. Having said all of that, I find often in terms of rent comps that the conversions aren’t too bad if done really well.