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As another piece of anecdata, my previous home had a spacious and nicely finished detached garage in addition to a single-car attached. It values the same as ot
by tbyehl 7y ago
As another piece of anecdata, my previous home had a spacious and nicely finished detached garage in addition to a single-car attached. It values the same as other similarly sized homes in the subdivision without a detached garage. It definitely had value to me as a workshop/office/man-cave, but not-so-much the market at large.
- davnicwil 7y agoInteresting. I sort of struggle to imagine anyone who wouldn't value an extra garage at anything - even if your need for it is just hypothetical or aspirational - or even just as cold storage space, which has not insignificant rental cost should you need it.
- tbyehl 7y agoWell, I'm no expert, but for the vast majority of people a detached storage space probably isn't even on their shopping list. And for most who put some priority on storage space it will be fungible with an attached garage or full / partial basement, which are much more common. And it never comes down to these two homes are exactly equal but for the ADU. Logically, an ADU absolutely should be worth something but I don't see it reflected in my limited experience buying two properties with ADUs, one of them income-producing. Might be different for a rental ADU somewhere highly constrained on housing, but my rent-to-home-value ratio is comparable to what's being discussed here, too.