Sell the House or Build a Garage

[Apparition]

I bought my house in 2011 because it was a smoking deal. 5 years ago, I built a 24x45 garage. I have just under 2 acres and may buy another 1.5 acres next to mine. However, I'm in a position similar to yours where I not only need more garage, I need more house. I also want 20+ acres.

My plan is to finish fixing up the house and, as much as I hate to, live with my current situation for the next 3-5yrs. At that time, I'll be able to sell (at a serious profit) and hopefully interest rates will be a little more normal and I can find the property I want.

Buying the land beside me will add to my resale value and make it stand out over area comps. Finishing my remodel will bring the house to a little more modern look and add convenience, while addressing some issues that existed when I bought it. Outside of that, I don't intend to sink any more money into this property because it still won't meet my needs and I won't see a return on the investment.

I say all of that to basically say: you need to evaluate your specific needs, wants, and future plans. Be 100% honest with yourself. Don't throw money at something that won't benefit you in the long run or just to "almost" fill a need/desire. In the end, you'll be down whatever money you threw at it and still not have exactly what you wanted.

What is normal?

 

[WVJeep304]

What is normal?

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Yeah... Normal was a poor word choice. I'll be happy with anything 5% or less.

 

[Shank]

I bought my house in 2011 because it was a smoking deal. 5 years ago, I built a 24x45 garage. I have just under 2 acres and may buy another 1.5 acres next to mine. However, I'm in a position similar to yours where I not only need more garage, I need more house. I also want 20+ acres.

My plan is to finish fixing up the house and, as much as I hate to, live with my current situation for the next 3-5yrs. At that time, I'll be able to sell (at a serious profit) and hopefully interest rates will be a little more normal and I can find the property I want.

Buying the land beside me will add to my resale value and make it stand out over area comps. Finishing my remodel will bring the house to a little more modern look and add convenience, while addressing some issues that existed when I bought it. Outside of that, I don't intend to sink any more money into this property because it still won't meet my needs and I won't see a return on the investment.

I say all of that to basically say: you need to evaluate your specific needs, wants, and future plans. Be 100% honest with yourself. Don't throw money at something that won't benefit you in the long run or just to "almost" fill a need/desire. In the end, you'll be down whatever money you threw at it and still not have exactly what you wanted.

We both have said this place would be a convenient house to own if we can figure out how to have more time for traveling as it’s cheap and fairly easy to maintain. Realistically with a newborn on the way and some craziness going on I could see being here a good while even if it’s not exactly what we want.

 

[BlueC]

Buying the land beside me will add to my resale value and make it stand out over area comps.

Just a tip for you and anyone in a similar situation, keep the land separate from the land with the house on it. It will have more value that way, and when it comes to comps, you want to be the average or just below it.

 

[BlueC]

We both have said this place would be a convenient house to own if we can figure out how to have more time for traveling as it’s cheap and fairly easy to maintain. Realistically with a newborn on the way and some craziness going on I could see being here a good while even if it’s not exactly what we want.

A baby on the way? You don't need to worry about traveling for a few years.

 

[Shank]

A baby on the way? You don't need to worry about traveling for a few years.

All the more reason for needing a shop...

Since last posted here I am roughly 1/3 of my way through my kitchen remodel (work and spending wise).

The steel building option really seems logical as it means I can disassemble and move it if I move and leave a nice concrete pad.

 

[BlueC]

All the more reason for needing a shop...

Yeah, speaking from experience, you're going to need space to store all of those "outside" toys.

 

[BlueC]

The steel building option really seems logical as it means I can disassemble and move it if I move and leave a nice concrete pad.

That make sense to me, and most likely what I would do. I've seen them assembled or disassembled in a day, and you don't have to have a concrete pad, unless you want it. Be aware if you do install it onto a concrete pad it will likely be considered real estate via state law. This does not mean you can't move it, it just means that you more or less have to remove it before listing the house for sale should you decide to sale and want to take the building.

 

[Shank]

That make sense to me, and most likely what I would do. I've seen them assembled or disassembled in a day, and you don't have to have a concrete pad, unless you want it. Be aware if you do install it onto a concrete pad it will likely be considered real estate via state law. This does not mean you can't move it, it just means that you more or less have to remove it before listing the house for sale should you decide to sale and want to take the building.

That's a good point. Fortunately it'd almost be guaranteed it'd move before the house was listed.

 

[WVJeep304]

The steel building option really seems logical as it means I can disassemble and move it if I move and leave a nice concrete pad.

That was actually kind of the situation I was in when I built my garage. The previous owner had a 24x45 stick built here, but tore it down and took it with him .

Luckily, he didn't take the concrete slab, so that saved me a ton of money. I was able to build my shop with 2x6 walls, paying a contractor buddy to get it under roof because he made me an offer I couldn't pass up, for $11k materials & labor. That includes the materials & work I did myself to insulate, run electrical, & finish the interior.

My next shop will not be as cheap, as I plan for it to be at the very least double the size of my current one.

 

[Shank]

That was actually kind of the situation I was in when I built my garage. The previous owner had a 24x45 stick built here, but tore it down and took it with him .

Luckily, he didn't take the concrete slab, so that saved me a ton of money. I was able to build my shop with 2x6 walls, paying a contractor buddy to get it under roof because he made me an offer I couldn't pass up, for $11k materials & labor. That includes the materials & work I did myself to insulate, run electrical, & finish the interior.

My next shop will not be as cheap, as I plan for it to be at the very least double the size of my current one.

Mannnn that would be nice haha

 

[Shank]

Late October into November I built a little 16x24 (max zoning allows) with a very low height attic. While small, it easily stores the travel trailer, LJ, atv, and mower. I’m probably about 12 into it and need to put another 2 or so when the weather breaks.

I built what I could with cash and I can absolutely say my first winter where we can park in the other garage has been very nice.

 

[lBasket]

Late October into November I built a little 16x24 (max zoning allows) with a very low height attic. While small, it easily stores the travel trailer, LJ, atv, and mower. I’m probably about 12 into it and need to put another 2 or so when the weather breaks.

I built what I could with cash and I can absolutely say my first winter where we can park in the other garage has been very nice.

Nice! I bet that is really nice. That's not a bad size at all, sure beats a "1 car" by alot.

Way to go paying cash too. When I bought my house I intended on using a HELOC to build a garage - but I quickly decided leveraging your primary residence isn't super wise (and now I won't have a garage, yay)

 

[Shank]

Nice! I bet that is really nice. That's not a bad size at all, sure beats a "1 car" by alot.

Way to go paying cash too. When I bought my house I intended on using a HELOC to build a garage - but I quickly decided leveraging your primary residence isn't super wise (and now I won't have a garage, yay)

It sure is. I went back and forth on size. From the road its almost completely hidden behind my original garage. It would be a pain to house stuff I use daily, but to grab the camper or Jeep out once a week isn’t a big deal at all.


I actually went a step farther. I got a HELOC and when it was about time to start spending on it… I couldn’t pull the trigger. I guess now it just sits for no good reason .

 

[John Cooper]

Why not have the best of both worlds, sell the house and build a Barndamonium or ever how you spell it.

 

[Hog]

Why not have the best of both worlds, sell the house and build a Barndamonium or ever how you spell it.

Working on it

 

[Hog]

Sorry for the drawn out post but this is a significant issue for me as of late. I've lived in my house since 2019, I bought it right out of college. The house is fine, was affordable and really the only well built option at the time. The neighborhood is quiet, clean, and the house is all we need, maybe not quite what we want.

As things should progress I've gotten married which has certainly helped financially as well as gotten some raises. This house would likely sell for about $40,000 more than I paid for it (maybe more but being realistic). The house isn't my ideal place to be but man is it cheap and allows me to spend more on fun things. Property is only 1/2 Acre. I certainly want more property and I need a garage. I am currently in the middle of a kitchen remodel and plan to add a second bath in the basement.

The issue I am having is that the existing garage is 28x24 and the floor is beyond shot. I could redo the floor but the larger issue is it seems the foundation was not put below frost line and is quite bad (not worried about falling - but certainly not ideal). I currently have (6) cars (looking to off (1), really should get rid of all and get down to two daily drivers but that's another story...).

With owning a fleet of vehicles also comes maintenance. Currently I have to work on stuff in my driveway or at my brother's house. While this is doable it is getting quite old.

I also have some constraints to deal with - for whatever dumb reason our township adopted a zoning policy (we are a city of 16k with a bunch of farm land). While I think it's ridiculous it is what I have to deal with. My existing garage is nearing the maximum detached square footage. The workaround is there is basically no limit to attached garages and covered walkways count as attached. I think a pergola may even work as well.

I wanted to attach a 28' x 60' to the house. The issue with this is that I have to reside and reroof my house to do that. If I'm doing that I may want to consider windows as well. Financially this is not feasible for me (sure I could get a loan but do I really want to buy $60-80,000 into this house).

Solution 2 is to build something as shown below - a 28' x 40' but this will put me rather close to my existing garage - I need to verify but I am anticipating 16-18' away. Fortunately the existing would be used as storage only - mower, fourwheeler, project car. This also gives me the option to tear down in the future and add on to the new garage. I could possibly go another 8' which would make storing (tightly in winter time) 4 cars way more feasible but then it will look quite goofy. I would do a room in attic which would help a lot with storage.

I don't think I will quite have the cash to do this and I am quite anti-loan as of late but I am really torn what to do here. Basically I am considering financing a chunk of the garage or selling and paying over double what this house cost at a worse interest rate for something that has a garage and more property.

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Never really heard anyone say.. I should have not spent the money to better my situation especially when it comes to real-estate or housing… or you can be like me 30 years later then you.. and say boy I wish I would have done “that”( whatever that is)