Rental Property Investor · Bartlesville, OK · Member since 2019 · 11 posts · 3 votes
Hello everyone - I am new to Bigger Pockets and currently researching properties for my first deal. I have found a home in Northeastern Oklahoma that looks promising, but a drawback is that it currently only has a single car garage. There is not enough space on the side of the house to expand it to two car width wise, but there is space length wise to lengthen it and turn it into a two car tandem garage or add a carport in addition to the single car garage.
Does anyone have experience with extending a one car garage to a two car tandem garage or adding a car port for a second car? If so, was it worth it for property value and rent increase?
I have not done exactly what you're asking about but I'll go ahead and let you know what I'd do in your case.
If pretty much all the other properties in the area only have 1 car garages, I would not think this would increase the value. So I wouldn't do it.
With that said, if I was a tenant there, I'd be willing to pay more for the extra garage space, maybe $150/month, but I wouldn't be willing to pay more for the carport, or maybe I'd pay $25/month.
Once upon a time I thought outbuildings would be good for my tenants so that they could store stuff. Some had a tendency to leave them full of trash when they left. I picture this possibly happening in a tandem garage. I picture a car port being loaded up with junky toys or old grills. So just give these possibilities some thought in light of the cost to add on to the property.
@Scott P. Thanks so much for the info Scott! You made some great points, and I can totally see the possibility of the extra space turning into a second trash can. I appreciate the advice!