real estate

6 worst home fixes for the money

Upscale garage addition
Upscale garage addition
  • Cost (national average): $82,311
  • Return at resale: 58.4 percent

This is not your dad's oil-stained garage.

Instead, the Remodeling Magazine estimate for this one includes building (from foundation to roof) a large, detached two-car garage that's heated, cooled and completely finished inside -- down to the molding around windows and doors. It is organized floor-to-ceiling with built-in shelves, cupboards and workbench areas, Alfano says. This upscale garage is also fitted out with high-end lighting, and the floor is treated with a stain-resistant epoxy.

"It's a high-end project," Alfano says. This type of renovation appeals to women as much or more than men, he says. With places to store all the items that tend to clutter a garage, often "it's for wives who want their garages back," he says.

A moderate garage addition -- the same size, also detached and professionally built, but unfinished inside, with an automatic door and modest overhead fluorescent lighting -- would run roughly $49,911 and return just over 69 percent at resale, the study concluded.

At resale: High cost or low cost, in areas where homes don't have basements or attics, garage storage can be "really important" at resale time, says Phipps.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Polyana da Costa

Mortgage servicers get better

Consumers are more satisfied with the service they are getting from their mortgage servicers this year, according to a recent survey.  ... Read more

advertisement
Partner Center
advertisement

Connect with us