Hey folks I need some honest feedback and I mabe too unhonest with myself in this decision that I need to make. I can have a prefab 16 x 24 barn shed w/ a second floof dropped on my property for about  $11.5K w $500 for site work, or I can spend about 24K on a 25 X 28 salt box 2 car garage. Pros -- If I went w/ the shed it would be cheaper and I will save on the taxes, and I could add a car port roof and cement pad for about 2K to accomodat any work that needs a hard work surface, and I could run power to it. Cons its still a shed, and resale for my house when i move in10 to 20 yrs will be lower! Pros for the garage, its a garage , has a hard surface covered work space , and will have storage space, it will have a higher resale value to my home and it fits into what people do to comperable homes in my area, also  (i have a raise ranch  w/ a small under neith garage 9 x 22) I can make my garage into livable space in my home. Cons, it will cost me about 12K more than the shed, and will increase the amount of taxes I will have to pay, the economy is not so great, cost would = to a car payment for 5 yrs, iI would have to get some part time work, would be finaced through my home equity loan w low rates. So, please give me some feedback, some times I can be delusional!  The purpose of this up grade is to provide some parking for the winter, some storage and work space. Is the garage toomuch and would the garage and car port surfice my needs Thanks in advance -  jim

I would go with the shed / carport but thats just me.
You can always sell the shed and carport before you sell you house.

if i had the cash, i'd build a garage. no shed, that's for lawnmowers.

if i didn't have the cash, i sure as heck wouldn't finance it, and SURE AS HELL wouldn't work more hours for it.

i'm a real stickler about time off vs pay though. my tombstone will not read "If I just had more overtime I could have bought a ______________."

ok, all that aside, if you're going to finance either, do the one that increases your houses value. you'll appreciate it while you use it, and then if/when you sell also. always build for the long run.

I would be inclined to go garage.  

It will last longer, has a concrete floor, the flat work will tie in with the floor, it will be better built (if you get the right people), etc.

If you just need some storage space, you might buy a 40' cargo container.  They're theft-proof, water-proof, cheap, and will outlast the house if you keep paint on it.  Yes it's redneck, but very efficient at $9 a square foot.  

I would be VERY wary of taking on an additional debt load though.

Quote from: GeeP on September 29, 2008, 06:42:21 PM
I would be VERY wary of taking on an additional debt load though.

That's why I vote shed / carport

Thank you everyone for the feed back! I think I am swaying towards the garage because of the type of work space, increase in home value and additional living space that I will gain from closing up the lower level garage , (I have a raised ranch.) The up side of the shed is that it will be about $12K cheaper.  How ever I still have some figuring to do, before I make the final decsion. Other people please chime in! Thanks in advance -- JIM

build a bar.

Quote from: GeeP on September 29, 2008, 06:42:21 PM
I would be VERY wary of taking on an additional debt load though.

Best advice so far IMO.