I just looked at a property in Ducanville, TX. (suburb of Dallas) The home had a 2 car detached garage in the back which burned to the ground and was never replaced. The home does have a pass through carport to which leads to the backyard where there is now a slab of concrete where the garage once existed. The seller is another investor who has no plans rebuilding a new one. All the other homes in the neighborhood have a 1 to 2 car garages. My question is would not having a garage be a big deal killer when trying to sell it after I do the repairs? Also if anybody has a rough figure to rebuild a new 2 car detached garage, that would be great too.
About $10K last time I priced it. That includes pouring the slab, though. If the old one is usable, you might save a few grand. If its not, it will cost your more to break it out and dispose it. These prices can vary quite a bit regionally.
Thanks @Jon Holdman
Yeah that is what I am thinking. The slab looks like it can be saved.
whether or not the lack of a garage is a big deal around here is going to depend on your price point. If you're under $150k on your ARV, probably not. Under $100k, definitely not.
It might reduce your ARV slightly at the $150k level, but as long as you price it correctly, it should sell with no issue. I'm betting that the cost to build it is about even with or slightly more than the reduction on the ARV.
yeah the seller gave me an ARV of $148k. The home has an odd floor plan. 5 bedrooms, 1 bedroom is a 3rd story loft. The other is a downstairs study. There are three bedrooms on the 2nd floor. The biggest bedroom doesn't have the bathroom. The "master" bedroom has a bathroom but small closets.
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