Carriage houses were originally built to house horse-drawn carriages. Now, these outbuildings are technically called ‘detached dwelling units’ and create an opportunity for the property owner to generate rental income.
These structures offer an amazing return on investment if you decide to rent out the space. They also make for great guest quarters or workspaces if you house guests and/or work from home often.
Curious about the price tag? Here’s a quick breakdown for a project like this in 2020:
– A typical 3 car garage is going to run you somewhere around $30K.
– A typical 3 car garage with a carriage house (a.k.a. rental opportunity) is $140K – $150K, depending upon your selections and the luxuries you afford your guests.
– These price ranges depend upon the carriage house being constructed in conjunction with a new home build so there will be some additional costs associated with a standalone carriage house build. Deconstructing and reconstructing existing fences, landscaping, sidewalks, etc. will naturally add cost.
If you’ve ever considered the possibility of adding a carriage house to your property, let’s chat about how these projects work and the best ways to measure your investment depending on where you’re starting!
We just wrapped up this carriage house in downtown Indianapolis. All the same quality finishes as the main home, just scaled down a bit.