This is what I do. Even some 1/4" broken bolts, I'll tig a nut to it through the center of the nut and then apply an impact gun to back it out, or if drilling is required, use a right hand drill to make a hole and use the left hand spiral bolt extractor to get the bolt out.I weld directly onto the broken bolt and add enough material to get vice grips onto it and turn it. If I can't get a welder to it, I use a reverse drill bit followed by a spiral extractor (Hanson 11119). NAPA should have whatever you need to extract a bolt.
Unfortunately a lot of folks don't drill the hole squarely and get into the host threads then try to remove the broken bolt which then becomes impossible.