I’ve recently come into a situation where my neighbor is willing to sell me a .17acre lot that runs behind my house. It spams about 3 properties on the south border, one on the north and one on the west. I talked to the town and they would let me absorb this land into my current property. I want to build a two car garage that exits into my back yard. I’m also looking for some storage space and a workbench area. The driveway would connect to the east and run up to the garage. I’d be getting the lot for $16k and it requires some tree work, grading and a bit of junk removal. The quote for the survey is $3k for both properties. I have no idea what legal fees are involved. I can purchase the property with cash but the rest of the work will need to be financed somehow. I’m looking for any advice before I start this process. Some questions I have: -Are metal garages worthwhile? -Anyone do anything similar/advice? -Any loan options? Saw heloc is 7% now -Am I stupid for jumping into this?
Not everything needs to be an investment. It is ok to enjoy your property and do what you want with your house.
If you can afford the costs and the future expenses are within your budget, then go for it.
Metal garages require more upkeep and need to be properly insulated to be more than a shelter. Insulating them makes the interior upkeep harder. It’s a tradeoff.