What is this garage worth?

[adsm08]

if there is a well and septic there that simply needs hooked up, it would be worth 18-23k to me if its a good area. 10-12k out in bfe.


bfe is more then 30 min to walmart...

or more then 3 min to napa...


or more then 5 min to tractor supply.

What if you are 5 minutes to Napa, 6 to TSC, but that Napa sucks?

Where I am it is 30 to Wal-Mart, 35 if I hit all the red lights. Napa is 5 minutes away, but I have to cross US15 to get there, TSC is 6 minutes away, but there is a semi-competent Advance right next to TSC that lets me do pretty much anything I want. Dumb bastards even gave me a set of keys to the store, but I'm givin' 'em back tomorrow.

 

[ericbphoto]

I guess I'm neither here nor there. Not quite BFE. Definitely not in the heart of civilization.

5 min's to an "ok" Advance
5 min's to a poorly staffed/poorly stocked NAPA
7 min's to O'Reilly's
20 - 25 min's to Wal-Mart
TSC? no clue where the closest one is. probably 25 min's

 

[85_Ranger4x4]

bfe is more then 30 min to walmart...

or more then 3 min to napa...


or more then 5 min to tractor supply.

You make that sound like a bad thing?

 

[stmitch]

Garages and outbuildings add very little value to a property from an assessor's point of view. They can make a property more appealing to specific individuals but they don't necessarily make it worth any more.
To build that building new right now would be $25-30k-ish around me. That would be site prep, slab, and the basic shell. No insulation, no electrical or plumbing. They're like project vehicles. You never get the money you spent to build them back when it's time to sell.
That building doesn't appear to be in great shape anyway. It's missing trim, it's got vegetation growing up around the foundation and trees sitting on the roof. Pole buildings don't last forever, and that one looks like it's no spring chicken. The rubber seals around the screws are probably in need of replacement, and that means that leaks are likely. I'd say it might add $5k to the value of the land. Maybe.

 

[hank857]

20 years ago I had a 24x48 building installed on our property, fully insulated. We later self installed a waterline and electricity. The building with 10ft eves installed was $18K. 1 rollup door and 1 entry door.

We just had a 40x50 ft 14ft eves large rollup door, 1 entry door. Fully installed to include pad, permits et was around $65K. Paid a guy $800 to put electric in and the LED lights at costco we $24 ea (12) I think. No water plumbing to building. Its a house for the RV and my F350 plus whatever else, lotsa room. Anyhow my property taxes went up about $600/year due to the new building. The elctric came from my sones house where he tapped into their box.

So as was noted you are only buying the land with a building on it. As to stuff in it thats like adding stuff to a car/truck that costs $$ but add little to trade in or sale. So look to see how much a simular piece of dirt costs then add maybe 5-10K for the add on. Add as little as possible. for sewer you could go septic or cesspool if in rural area. We built our sons house cost $3k for permit to hook up to city sewer and another $3500 for the parts and labor to hook everything up. If going to live in 5wheel, just the hook up is all ya need.

 

[85_Ranger4x4]

Garages and outbuildings add very little value to a property from an assessor's point of view. They can make a property more appealing to specific individuals but they don't necessarily make it worth any more.

Unless it is the county accessor...

Add as little as possible. for sewer you could go septic or cesspool if in rural area.

Different areas have different regs on that.

For the 100+ years before I bought my house it just had a line ran to the road ditch. For it to trade hands that had to be updated.

 

[Jim Oaks]

Here's a refresher look at the building (above). It's on a 1/2 acre lot. 1,500 sqf.

I don't think it's worth anywhere near this much.

Price history:

9/14/2018 Price change $75,000
8/31/2018 Price change $85,000
7/3/2018 Listed for sale $95,000

 

[adsm08]

Those prices aren't for a garage, they are for a house.

 

[85_Ranger4x4]

Here's a refresher look at the building (above). It's on a 1/2 acre lot. 1,500 sqf.

I don't think it's worth anywhere near this much.

Price history:

9/14/2018 Price change $75,000
8/31/2018 Price change $85,000
7/3/2018 Listed for sale $95,000

Are they hoping to sell to a developer or something?

Those prices aren't for a garage, they are for a house.

*that probably has running water/sewer...

 

[Ranger850]

Garages and outbuildings add very little value to a property from an assessor's point of view. They can make a property more appealing to specific individuals but they don't necessarily make it worth any more.

Basically the same in Florida

 

[ericbphoto]

Here's a refresher look at the building (above). It's on a 1/2 acre lot. 1,500 sqf.

I don't think it's worth anywhere near this much.

Price history:

9/14/2018Price change$75,000
8/31/2018Price change$85,000
7/3/2018Listed for sale$95,000

The building isn't worth much unless you try to build the same thing brand new with a contractor doing the work. The land is an issue the rest of us really can't address because land price is based on....

" Location, location, location."

This message composed solely of recycled electrons. Go green!

 

[adsm08]

Are they hoping to sell to a developer or something?



*that probably has running water/sewer...

This is admittedly in an area of PA where property values are low, but one of my buddies was looking at a house a few years ago, two story, 2000 sq ft, 4 bedroom 2 bath, attached 1 car, detached finished 3 car with lift. $85K.

 

[Shran]

2000 sq ft, 4 bedroom 2 bath, attached 1 car, detached finished 3 car with lift. $85K.

If that place was here and in OK condition (as in you can get an FHA loan for it) I have no doubt it would be worth $200k+.

The house next to mine sold this year for right around 200k and was basically that, minus the 3 car shop... on a half acre. And it's not really that nice of a house.

The deal with wells and septic systems is complicated - if it's in town or close, might as well forget about septic for sure, and a well is a probably not. My house has a well, so do most of my neighbors. A lot of them also had septic tanks at some point. Problem there is that the septic tanks leak and contaminate everyone's water... I've never tested my well and don't use it anyway but I'd guess it's not safe to drink. A lot of cities won't let you run septic or wells anyway - have to hook up to city utilities if you want that stuff.

 

[adsm08]

If that place was here and in OK condition (as in you can get an FHA loan for it) I have no doubt it would be worth $200k+.

The house next to mine sold this year for right around 200k and was basically that, minus the 3 car shop... on a half acre. And it's not really that nice of a house.

I live a few hours down state of where that place was, but my parents' house is similar in size, but with more land (2 acres vs in town) and was valued around $300K a few years ago when they looked at moving. My place is 1200 sq ft, 1 bath, 3 bedroom, detached 2 car on ~.5 acres, and we paid $150K.

Like I said though, that place was in an area of PA that trends below the average on property values. In fact in that town if you don't work for the town, the three-man dealership, the walk-in clinic, or the deli you probably drive at least an hour to get to work.

 

[91stranger]

What are your plans for this building other than possibly living in it? Are you wanting to turn it into a shop or store? If you just want a big garage to live in then I would keep looking for something that suits you better. Around here housing is almost dirt cheap. We bought our house from a bank for WAY less than you would think and didn't have to do much work to it. Needed a roof (3k, amish had it done in 3 days), appliances and general cleaning/maintenance from sitting for years and years. Plus our house came with a 2 story barn with an attached garage to the barn with concrete floors. Lets just say we have lived there almost 4 years and the house just got paid off last month if that tells you how cheap it was. So if I were you I would keep looking. $75k is a lot of money for something you know little about.