Do you want to add some value to your home over the course of the next few months? There are dozens of different ways that you can go about doing it.
You can bring the value of your home way up by improving your curb appeal, replacing windows and doors, or putting a new roof on your house. You can also do it by renovating your kitchen, finishing your basement, or creating a walk-in closet in your master bedroom.
But you’ll get the most bang for your buck when you go through the process of building a garage for your home. Although the average garage can cost homeowners almost $30,000, it can increase the value of your home by about 80 percent of that cost.
Here’s why a garage will increase the value of your home so much in most cases.
Provides Covered Parking for Cars
The most obvious benefit that comes along with building a garage is that it provides homeowners with covered parking for one or more of their vehicles. And there are all kinds of advantages that people will enjoy when they park their car in a garage on a regular basis.
A garage will:
- Protect your car from the sun, rain, and other weather elements
- Keep your car secure when you’re not using it
- Make it safer for you to get in and out of your car, especially at night
- Maintain the temperature of the fluids in your car
- Prevent the value of your car from dropping as fast as it normally would
- Save you money on an auto insurance policy
These advantages will make your home more attractive to those interested in buying it one day. They’ll like the idea of having and using a garage that is designed to protect their vehicles and keep them running longer.
Creates Additional Storage Space
Studies have suggested that about 80 percent of Americans have at least one regret about buying their home. And about 10 percent of those people say that they wish they had more storage space inside of their houses.
The success of the new Netflix show Tidying Up with Marie Kondo might lead you to believe that Americans don’t need as much storage space as they used to. But there are still plenty of people who are struggling to find places to put all of the things they own in their homes.
Building a garage that’s attached to your home will eliminate this problem for you. You’ll have more than enough places to put everything from the Christmas decorations that don’t need until November to the kayak that you only use in the spring.
You’ll also add value to your home, because whoever decides to buy it next will love all the extra storage space your home has thanks to the garage. Even if it’s only a one-car garage, it’ll still make a big difference in the total amount of storage in your home.
Serves as an Optional Workspace
Most Americans use their garages for parking their cars. But it’s important to remember that you don’t have to use your garage solely for parking vehicles if you don’t want to.
You can also use it to set up some kind of workspace. Here are some of the workspace ideas that you can incorporate into your garage:
- Woodworking shop
- Home office
- Home gym
- Photo studio
When you go to sell your home one day, you’ll probably want to clean the garage up and show it off as a great place to park cars. But you can also let potential buyers know that there are tons of other ways that they can use it as well. This could be a real selling point for a lot of people and motivate them to pay more for your home.
Enhances Curb Appeal
As we mentioned earlier, improving your curb appeal is a great way to increase the value of your home. You can improve curb appeal by updating your landscaping, replacing your siding, or painting your front door.
But you can also do it by building a garage. Your garage will give you an opportunity to install a gorgeous garage door over it. You can get more info about some of your options and decide which garage door would look best on your home.
There are some people who will argue that a garage will drag your home’s curb appeal down and hurt it. But when you put the right garage door on your home, it’ll make a big difference and help to make your entire property more valuable.
Makes a Home Feel Larger Overall
Unfortunately, you’re not allowed to include a new garage in the total square footage of your home. So on paper, building a garage won’t make your house any bigger than it is right now.
But in reality, your home is going to feel so much bigger when you add a garage to it. Between the extra storage that it provides for you and the fact that it can serve as a mudroom and an entryway to your home, it’ll seem as though it has changed the size of your home.
People will notice this when they’re walking through your home and thinking about buying it. Even though the square footage of the garage won’t change the actual square footage of the rest of your home, it’ll sure feel like it does.
Start Building a Garage for Your Home Today
Building a garage is going to require a sizable investment on your part. You might even need to refinance your mortgage to do it.
But adding a garage to your home will often make it a lot more valuable than it was before the garage went up. And that could very well make the garage well worth the investment.
There are also other things that you can do to your home to boost the value of it even more. Read our blog to see some of the home repairs you might want to consider doing to get better offers on your home when you’re ready to sell it.