How Much Value Does a Garage Add to a Home?
The garage is one of the features that can be considered a bonus. Besides the obvious benefit of using your garage to hide your valuable vehicle from potential vandals and the elements, the garage can also serve as a much-needed storage space, especially if your home doesn’t have a basement.
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It can also be used as a mancovina, a makeshift gym or even as an extra rest room with a TV and a beer fridge.
But since we don’t want to provoke a domestic dispute, we’ll just call the garage an extra room for your already busy home and let you decide what to put in it.
But how much should you add, and is it worth it? Below is a brief but informative transition to the waters of yes, no, or maybe even yes.
Why a garage?
To build or not to build? That, of course, is the question. If you have the time and resources, adding a garage to your home not only increases the value of your home, but may also increase profits, making it a wise investment.
A garage can increase the value of your home by up to five percent when it’s time to think about putting it on the market.
But extra space can also be a barrier for potential buyers; if your home doesn’t offer the comfort and security of a safe place for your car, many will automatically rule out offers to buy your home and move on to the next listing.
Accommodation for extra space
Additional storage space
This is the main attraction for most people when it comes to connecting a garage to a driveway.
As mentioned earlier, extra space can be a godsend if your home doesn’t have a lower floor or even enough closet space.
Even if there are young children in the house, the garage can be used as a large storage area for toys or even as a playroom, while daddy’s tools are safely stored away.
In adolescence and beyond, boxes for schoolwork, photo albums and other precious memorabilia no longer need to be stored in already limited closets or, worse, under the bed and other furniture.
The more rooms, the nicer it is for the large number of people looking for a fairly large family home.
Quiet and additional work area
Just the mention of a traditional garage can conjure up images of a dark, damp, gloomy place, a hidden or secondary border with the rest of the house.
Reality Check: Well-built garages not only provide plenty of storage space, but also impeccable offices and playgrounds.
When it comes to looking for other properties, the more imaginative you are about how the space can be used, the more money you can see in your wallet.
But what about a seminar? Depending on the size of your new garage, it can be the perfect place to craft and create, to store your craft supplies, and as a place to relax away from the rest of the house.
Do you have a hobby in woodworking? Green fingers like in the garden? Do you enjoy collecting model cars or antiques? Return to the garage to do the activities you enjoy in the privacy of your home.
A more expensive but very interesting option is to install air conditioning, a good floor and insulation, and even plumbing in the garage, to make it a very functional and multifunctional part of the house.
If you can afford it, there’s no limit to what you can do with your garage (you’ll have to spend money on a good roof, though, so you can’t see the sky). But a skylight is always an option – it saves extra lighting costs).
Appeal under oath
The added value of your home doesn’t just come from the extra space in the garage, so the exterior of the structure should also be a priority.
Aluminum siding, a modern garage door, and an attractive driveway tell potential buyers that your home is a must-have and, hopefully, a must-buy.
Just as the exterior of the house should indicate that the interior is just as beautiful, the exterior of the garage should be considered equally important in the sale. Nobody wants to look inside if they don’t fall in love outside.
That said, as important as it is to have an attractive home and garage, you should always consult a real estate agent.
You should seek advice from a professional who has experience with homes in your area to find out how much money is needed to ensure maximum appeal.
Spending money on a garage is a given, but there’s no reason to spend more than necessary if the housing market doesn’t need it.
Okay, well… How much?
Depending on the size you are considering for your new garage, and depending on features like B. electricity and plumbing, a modest garage can cost you a lot of money.
However, experts say that you can get a return of about 80%. Of course, these figures are just estimates and it makes sense that if your garage is big enough or, better yet, if it’s a feature that few other homes in your area have, you’ll organize to make your home attractive (and expensive) enough to buy.
That said, the average cost of installing a garage can range from $17,000 to $38,000. This can vary significantly depending on the size of the structure and whether it is attached or disconnected, which is an important point to consider.
For a single-car easement, the amount to be paid generally ranges from $7,500 to $10,000, and up to $27,000 for a two-car garage.
Again, it all depends on your needs and how you want to use the space. A detached garage can cost between $9,000 and $12,000, but you will have to pay up to $14,000 or more if you need plumbing and electricity.
Keep another option in mind: A mobile garage can be useful if you just need a simple shelter to protect your car, boat or motorcycle.
Attached or detached garage: What is the best?
Attached garages are cheaper than detached structures and are often family owned. They are also more useful as a place to store and relax, because if the weather is a bit bad outside, you don’t necessarily have to leave the house to get what you need or to challenge someone to a game of ping-pong.
Individual garages are the more expensive of the two options, mainly due to the higher cost of installing plumbing and lighting.
However, for some homeowners, this is the most logical choice and is unavoidable when, for example, B. a sidewalk is required to access the yard.
Carbon monoxide poisoning is also rare, but no one wants to get involved in creating extra space in their home. The garage is an enclosed and compartmentalized space, so there is no risk of hazardous gases entering the living area.
Do you have a garage? How about a little upgrade?
If your current garage is looking tired and old-fashioned and no longer matches the aesthetics of the rest of your home, sometimes all it needs is a fresh coat of paint.
A new look and increased appeal are guaranteed when you simply paint your garage door in the shade and style you want.
Conversely, installing a new door can easily cost you more than $4,000. However, if you are looking for modernity, functionality and attractiveness, you will definitely get your money’s worth. This is especially true if you decide to sell your property. The old adage is true: you have to spend money to make money.
If you’re not sure if building a new garage or even improving your current home will make your home more marketable, contact a local real estate agent who can advise you on the best improvements, repairs – and prices! – To maximize your sales potential.
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