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Is it worth converting an unusable single stall garage into living space?

The addition would add an additional 300+ square feet to a 1300 square foot home.  It would be much need space for a growing family but not sure if it would add value to home underwater.
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April 30 2013 - Town of Hudson
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Can it legally generate extra income? If so yes
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April 30 2013
The answer is really what the norm for your area is.  Extra space usually ads value.  However if most of the houses that are in your area already offers a 1-2 car garage, you will loose that value.  So you have to factor what the gained value is after you deduct the value loss. 

Also, if you are going to convert your garage to livable space, you want to make sure that you do not need permits for your area and to make sure it is heated/cooled space which could cost extra money.  In some markets, by not getting the proper permits, it is considered an illegal conversion and therefore not insurable for some mortgages. 

Check with a few agents in your area if you can not find the research in your area.  They will be able to assist you in what is the better selling feature -- an extra room or garage.  

Good luck!
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April 30 2013
 
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Is it worth converting an unusable single stall garage into living space?
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