Finish a carriage house apartment?

Question

Dear Bigger Pockets home experts,

I have a large historical flip in process right now that will  eventually be for sale for over $1M.  The main house is is around 7,200  ft and will be very era/period style, with some modern features (master  bath, awesome kitchen, etc.)  There is a detached garage with an  unfinished apartment above it (unfinished to the studs, with old  plumbing and electrical currently there. It looks terrible!)  I am  debating finishing this space off, but my realtor is recommending that I  leave it unfinished for the buyer to deal with.  I would love to save  the money and leave it unfinished, but I'm worried that a buyer in this  price range will not want any unfinished projects to deal with later.   To finished the space nicely would cost around $25K, give or take (it's  fairly small and at most would be a 2 bed apartment, but does have a  kitchen and bathroom.)  What would you guys recommend that I do? :)

I've attached a couple of pictures for reference.  The 1st is the carriage house/garage, and the 2nd is the main house.

Thanks!

Jonathan

Kerry Baird · Answer

I would finish it.

Michael Seeker · Answer

@Jonathan Woodruff - that's a beautiful house (except for all the snow)!  I'd say the extra $25K is worth it at that price point.  Doing a major renovation and then leaving something for the buyer to do has never made sense to me.  If they wanted to DIY, then they'd buy a fixer upper.  As long as the layout and finishes are nice in the extra space, I would think most buyers at that price point would appreciate it a lot more than the money you have to spend finishing it out.