Build a Bigger Grarage or Sell a couple cars ?

[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!

[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.

[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.

[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.....

[WILMASBOYL78]

We all suffer from a terrible disease called....

"Murphy's Law of Proportionate Expansion"

The stuff will expand to fit the space available

[William]

At 57 you're 8 years from Medicare eligibility, 10 years from SS FRA. Unless you want to pay for private health insurance, you need to keep working until 2030. You just took a pay cut and are now contemplating burning a large sum of cash for a garage addition to store cars you don't drive. Even you know those cars have probably peaked in value.

Were I in your position, I would not bet a good chunk of my future retirement funds on old Muscle Cars being a wise investment. There is tremendous pressure to get rid of fossil fuels. 12 state governors have asked the current administration to ban the sale of new fossil-fueled cars by 2035. Maine has already raised the possibility of banning gasoline.

By the time you retire, the world and our hobby will be a very different place.

[CamaroNOS]

Originally Posted by William

At 57 you're 8 years from Medicare eligibility, 10 years from SS FRA. Unless you want to pay for private health insurance, you need to keep working until 2030. You just took a pay cut and are now contemplating burning a large sum of cash for a garage addition to store cars you don't drive. Even you know those cars have probably peaked in value.

Were I in your position, I would not bet a good chunk of my future retirement funds on old Muscle Cars being a wise investment. There is tremendous pressure to get rid of fossil fuels. 12 state governors have asked the current administration to ban the sale of new fossil-fueled cars by 2035. Maine has already raised the possibility of banning gasoline.

By the time you retire, the world and our hobby will be a very different place.

Man did you hit it right on the head William, atleast for me.

Over the past several years now, I have come to realize (personally) that two vehicles are just what I need and here is my reasoning.

1. I still work so I am a busy guy with life.
2. I am not a millionaire, just a smuck with average life/income/family which has granted me the ability to have an average size shop which holds two cars.
3. I do not have the ability to drive more that one car at a time, let alone four/six/ten/etc.
4. If you have more than one car, that means they do not all get driven like they need to be.....in my world.
5. I really don't like paying storage/insurance for my toys if I am not using them.

I am also a believer that our beloved muscle cars will not be a great long term investment. Just read the above quote/facts which tells me the writing is on the wall and has been on the wall for 10 years or so. Covid really messed that natural progression. The ONLY reason cars and everything else went to the moon lately is obvious. In my world (1969 Camaro's) they were steadily dropping in value (slowly) for years prior to Covid and I was fine with that. Everything has a shelf life.

So in a nutshell, downsize the fleet a bit while prices are at all time highs.

And more important, prepare for your well deserved retirement.

Paul

[carnut4life]

I had the same dilemma last year Jeff and ended up buying a 4 post lift for my garage since I couldn't stomach the thought of paying more to add on to the garage than it did to build it on the first place. Another thought could be to sell one car to pay for the addition and keep the other? Best of luck whatever you decide to do. It looks like a lot of us are in the same boat.