So if you follow the advice in my previous post regarding converted garages, we loop back around to the original question, ‘Does the added square footage compensate for the lack of garage space?’.
Adding a 5th bedroom or 2nd game room to your already 4000 sq ft home most likely is not going to pay off (nor is the HOA going to allow in most cases). However, in Crestview or Brentwood, where you are sometimes adding up to 20% additional space it can really make sense. You are taking a 900 sq ft home and adding 200-250sq ft of real livable space, that’s a big difference.
In Texas, few people actually make room to park in their garage, that it really becomes a question of storage over parking. And since much of our soil is bedrock, basements are not a common feature. Most Central Austin lots are of size that a modest storage or portable outbuilding would easily accommodate the general public’s needs. One idea I like a lot can be found on Burnet Rd,
Kanga Room Systems. This opens another discussion on options, but you get the idea on finding a solution for lawn tools, gardening equipment, bikes, etc.
Covered parking might be accomplished by adding a carport to the side of the home if the lot dimensions allow. Use caution when assuming a carport can be thrown on the front of your home. Building setbacks might have you filing for a variance from the city and neighborhood association. Others might elect to extend a driveway down the side and place a detached garage in the backyard. My wife and I elected to do this, and we still have plenty of yard.
If your 900 sq ft home is worth $220/sq ft ($198,000), with the added square footage that price/sq ft is going to drop a bit as you increase size. Let’s say post renovation the home is 1100 sq ft, and at $210/sq ft the value is $231,000. You’ll have $33,000 of construction costs before the remodel starts to exceed the new value. Seems like a lot of money, but many times I’ve seen clients able to come out ahead.
Factor in storage or outbuilding options when pricing the remodel. Not just for resale, but for your own living needs after the work is complete. Lastly, if want to protect that new car in the driveway, look at what covered parking options might be available. Carport, detached garage or maybe a car canopy?
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