Build a Bigger Grarage or Sell a couple cars ?

[GrumpyJeff]

Hey guys ,just looking for a little advice or input. I recently took my foot of the gas and took a step back from my previous job after 38 years (I'm 57 years old now) While I do still plan to work for a few more years just to maintain my life long Savings. That being said i did take a huge pay cut with my decision, but i am debt free and content with my toys ! The reason for this post is I'm currently ready to pull the trigger on a nice addition to my existing 2 car garage .But with the contstruction cost of today its a significant chunk of money. My dilema is that i currently have my long time Street/Strip 67 Camaro & a Anglia Gasser project filling up my existing garage . And my two life long dream cars that Ive been lucky enough to acquire over the last 10 years and i would never be able to replace with today's values (70 RS/Z28 & 70 SS Chevelle) are residing in my former bosses part time home's 5 car garage. While there are no hard feelings or drama between us and he says i can keep them there as long as i want... I just would feel better having them "at home". I do know how much more i would enjoy them, having them here in a new bigger garage/man cave. While my only real passion is Motorhead type stuff and i do drive both cars occasionally . Sometimes i feel downsizing by selling off the 2 cars while their values are hot and saving the money from the garage build would be the smart thing to do ? Sorry for the long winded post, but i knew you guys could feel my thoughts ... thanks

[Zedder]

I’ve been having the same thoughts Jeff after turning 60 recently and focussing on my upcoming retirement. For me, the biggest decision revolves around driving vs collecting stuff. Also, the more stuff one has the more problems that arise. I’m just getting too old to want to deal with lots of problems.

I’m going to try and have one older car, one older motorcycle and one newer fun car. All of those will fit in my current garage in addition to our daily drivers. I just don’t need more than that although I may want more at times!

[William]

Study the crowds at Barrett-Jackson and Mecum auctions. What do you see?

[GMC_Typhoon]

Originally Posted by GrumpyJeff

Hey guys ,just looking for a little advice or input. I recently took my foot of the gas and took a step back from previous job after 38 years (I'm 57 years old now) While I still plan to work for a few more years just to maintain my life long Savings. That being said i did take a huge pay cut with my decision, but i am debt free and content with my toys ! The reason for this post is I'm currently ready to pull the trigger on a nice addition to my existing 2 car garage .But with the contstruction cost of today its a significant chunk of money. My dilema is that i currently have my long time Street/Strip 67 Camaro & a Anglia Gasser project filling up my existing garage . And my two life long dream cars that Ive been lucky enough to acquire over the last 10 years and i would never be able to replace with today's values (70 RS/Z28 & 70 SS Chevelle) are residing in my former bosses part time home's 5 car garage. While there are no hard feelings or drama between us and he says i can keep them there as long as i want... I just would feel better having them "at home". I do know how much more i would enjoy them, having them here in a new bigger garage/man cave. While my only real passion is Motorhead type stuff and i do drive both cars occasionally . Sometimes i feel downsizing by selling off the 2 cars while their values are hot and saving the money from the garage build would be the #smart thing to do ? Sorry for the long winded post, but i new you guys could feel my thoughts ... thanks

Adding space to your garage will increase the value of your property. It's not like you would be pissing it away, and if it's what you want to do and it makes you happy I would do that instead of regretting selling the cars later on.

[WILMASBOYL78]

While there are some folks who have lots of room for the toys, most don't. I share your concerns...we have the same problem.

Culling the herd so you don't need a big corral can be a difficult choice...especially given how hard it would be to replace them.

I have been looking for new storage space...tough to find.

Now you got me thinking again...

Maybe you can find a shared space with another hobbyist?? Paying rent and controlling the situation is better than worrying about the personal stuff with the old boss.

Given the crazy costs for building materials and the difficulty in finding a good contractor...a rental spot seems like a better choice. Then if you decide to sell a car or two....you won't be carrying the extra expanse of the new garage.

Good luck...

Tom

[GrumpyJeff]

I knew you guys would know what i was feeling !!! Some great views on my situation already, please keep the thoughts coming...

[Crush]

I retired two years ago and had just finished building a new garage /barn. I’m glad I did because it is full and I’m looking into lifts at this time. In my area I was able to do a Pole barn construction which was cheaper than a stick built. Maybe something to consider along with 4 pole lifts.
Funny tho, with the “extra” time I have I still don’t feel I have enough time to drive my stuff and do all the other stuff I like to do… makes me wonder how I did it before. I’m thinking about selling stuff, just because I hate to see it sit. Such high class problems to have LOL!

[oldstv]

I am 62 and just went through a major building project with retirement in mind. Building that building is one of the best things I have done. My wife and I spend a lot more time in it than I would have ever imagined. The only regret is I should have built it bigger.

[Thomas]

I am turning 63 this year and am in a similar situation. I have the option of retiring early but something will have to give.
I have 2 cars stored at my aging mother's place, but I am not sure how long she will keep the house.
I also do not have enough time to play with everything while I am working and looking after two properties.
Some days I have my mind made up and am ready to hang out the For Sale signs. Other days, I am good with just waiting and seeing how I feel tomorrow.
The one thing that I have done is start selling off parts and pieces which I will never use.

[Formula455SD]

I have a 7 car garage. Last year I ran out of garage space. I ended up renting a 20x40 storage unit offsite and have since filled that up. I sold off 2 cars and should sell off 2 more so I won't have to keep paying $450/mo for storage. I'll probably end up buying 2 more cars instead.....