Help making a decision

vic8504

So since we moved into our home about 4.5yrs ago we always talked about building a 1 1/2 car garage out back since there is only 1 under the house and DH has to park in the driveway and block me in or park on the street.

Well we had decided last fall that we wanted to build the garage, but when our contractor came back yesterday to look over everything again he started to say more things that needed done so that it was done right. (I totally agree with him but it is taking our total project costs from about $18,000 to closer to $23,000 or more...) That is for the Garage a cement patio a fence and some work done inside the house.

I think I am just having sticker shock. That is a lot of money! I could put that down on the house mortgage or pay off our cars! I know it will add value if we ever decide to sale our house and move but not like we are going to get an additional $20,000.

So my question is what would you do? I am thinking of turning the garage into a pull off with maybe a carport over it and a new shed for storage. That would knock off almost $8,000 from the total cost. I know DD is really upset/angry that I am having 2nd thoughts but I don't want to have to borrow more money for something that really has no benefit other than him not having to clean snow off his car in the winter.

Thanks for the advice!

KEfam5

I am always a fan of paying things off rather than having more debt...maybe you could compromise on a garage type space more like a warehouse so it would be cheaper. I don't think you should write off a covered car area completely. Just tweak it so you don't pay so much out. And if you ever decide to sell, many types of structures can be considered a "garage" so you will still be bringing up the value of the house.

Jeffreysmom24

I like your compromise idea better. From my experience, projects like this always end up costing more and taking more time than the original quote. I guess it really depends on how important this is to y'all? DH and I had a similar set up at our old house and yes it was a pain, but I personally wouldn't spend the money on the garage. The carport and shed for storage sounds more practical and that would still add value to your home. Good luck with whatever you do!

sdlaura

I would do the full project, but not until I had saved enough to do it without borrowing to do it.

piphigirl

One thing to consider is how much value this will add to your home, and how much longer you plan to stay in this home.  I've you're planning to sell, you want to improve, but not over-improve.  If you won't get your money's worth when you sell, it might be better to do a smaller fix-up job that would give you more bang for your buck.

Also, have you gotten a second opinion?  And how much of the work could you do yourself to save money?

Jessica Swanlake

CourtandNate said:

Are you planning on staying in this house as your forever place?  Is this where you are settling?  If yes, then I say do it.  If not, I would come up with another solution or compromise.

I am with this, 100%. My husband insisted on having our driveway cement re-done and the original garage lifted and fixed. After all was said and done, we had spent $17,000 - most of our savings, for something that adds very little to the value of our home. He is proud of his lovely concrete drive, but I am missing the money, especially now that we are looking to move and could have used it on our future down payment. I wish I had fought harder for a compromise.

vic8504

Thanks ladies for all of the advice. I love my house, but am undecided on whether I want to stay forever. I wish I could pick it up and move it out of town and in the next school district over. I just feel bad because husband was really looking forward to a garage. I asked my realtor and she said in our area a 1 car garage adds about $10-$15k to the value of the house.That is a decent return...All I know is I need to figure it out sooner than later! Ugg why are decisions so hard?!