No one ever thinks about their garage until they need to use it.
But, if you want to sell your home soon, don't forget about your garage!
It could be increasing the value of your home more than you think.
If you're looking to sell your house shortly, or are just interested in learning more about how your home's value is determined, read on!
We'll discuss everything you need to know about garages and their impact on home values.
The Value of a Garage: How Much Does One Cost?
A garage can add thousands to the price of a house.
As a result, a house without a garage is less likely to be looked at by potential buyers, and it will almost surely sell for less money than a comparable home with a garage.
Although the upfront cost of constructing a garage is significant, the potential return on investment makes it a worthwhile project to consider.
There is no hard and fast rule about how much value a garage will provide, but in some cases, it was found that missing one detracted as much as $10,000 from the home's appraised worth.
The place you call home is significant, too.
Due to our unusually harsh winters, garages are quite valuable.
Many people consider garages an absolute need, so they may avoid braving the elements when carrying a load of groceries or simply making their way to and from their vehicles.
Due to our location, the investment in a garage yields a very good rate of return.
Improvements to Your Garage That Might Raise the Value of Your Home
An Increased Return on Investment Can Be Expected From Building a Garage
Don't have a garage yet? Then it could be worthwhile to get one if you have the room for it.
The ROI on a garage is often rather high. The average return on investment is estimated at 65%, which is excellent news for homeowners who aren't in a rush to sell and can reap the advantages of a garage.
It's a nice-to-have, but perhaps pricey, extra.
Many houses were valued at a difference of $6,500 to $13,000. This difference was due to the presence or absence of a garage.
Provide More Storage
Some simple upgrades to your current garage could significantly increase the value of your home.
The first is to use the available space effectively by constructing storage facilities.
These compartments give your garage a neater appearance and add functional storage space. Organise equipment like shovels and bicycles using wall-mounted shelves, hooks, and pegs.
The workbench and drawers at a workstation can be folded up when not used.
By removing them from the floor, you can better use the available area and ensure it is free of hazards.
StorageSmart® Storage Cabinets, Draws, & Work Benches are the perfect way to organize your garage!
With StorageSmart®, you’ll have plenty of storage space for all of your tools, sports equipment, and other belongings.
Modify Its Functions
Don't have a car or a lot of stuff that has to be stored? A garage that isn't being used is a waste of space; why not convert it into something more practical?
Even though many people still prefer to have a garage, adding a new room can be a good way to increase usable space.
You should be careful if you decide to repurpose space.
Make sure the garage is insulated and has a waterproof roof.
Depending on the room's intended purpose, professionals will need to install plumbing and electricity.
To be safe, check with the local government to see if a permit is required.
Uses for a garage can be imagined indefinitely.
Make a laundry room separating the appliances from the living space, which may be used for other purposes, such as storage or a hangout with couches and a TV.
Put On the Lights
The garage need not be a dull, uninspiring place.
The space will feel more alive with the addition of some dynamic lighting and a light coat of paint on the walls.
The garage ceiling and walls can be illuminated, creating a cosy atmosphere. The new, lighter aesthetic makes the office much more pleasant.
Rewiring could necessitate the assistance of a licenced electrician.
Set Up A Working Garage Door
Potential purchasers will be put off by a solid wood door that must be opened with force.
Install an automatic garage door opener, or replace the heavy wooden door with a newer, lighter aluminium one.
The door's resale value is far higher than the rest of the house. A new door should be painted to match the exterior of the house.
Accept The Area As Your Garage
Use it largely as a garage and nothing else.
Your home's value will not increase if you convert your garage or even part of a 2-garage into a studio, refinishing area, or craft room.
If the potential buyer doesn't see the property the way you do, it could hurt your listing.
However, there's a case where that doesn't hold: The worth of your property will increase if you instal liveable space on top of the garage and furnish it with a bathroom and kitchen.
Ready to Renovate Your Garage?
We know that a well-functioning garage is crucial to a happy home.
That’s why we’ve dedicated ourselves to creating the best possible garage renovation experience for our customers.
We want you to be thrilled with your new garage space, from design consultation to installation.
Imagine turning that cluttered, dark space into a bright, elegant area of your home.
With GarageSmart, it’s easier than you think. Our team will help you create the perfect garage renovation for your needs and budget.
You won’t regret choosing us as your partner in this project!
Request a quotation on our website today!
Conclusion
The cost of a home may increase by the thousands if it has a garage. The construction of a garage should result in a higher rate of return on the initial expenditure.
Regarding how much of an increase in value a garage will bring, there is no one-size-fits-all guideline.
It is much less probable that prospective buyers will look at a house that does not have a garage, and the asking price for such a home will almost certainly be lower.
It is a waste of space to have a garage that isn't being used, so why not transform it into something that has more practical uses?
If you choose to repurpose space, you need to exercise extreme caution. Plumbing and electrical work will need to be installed by trained professionals, depending on what the space will be used for.
For your own protection, check with the authorities in charge of the area to see if you need a permit.
Create a laundry room that is separate from the living space and the appliances.
This room can serve multiple functions, such as storing items or serving as a hangout spot with couches and a television.
Converting your garage or even just a portion of a two-car garage into a studio, refinishing area, or craft room will not result in a rise in the value of your property.
It could be detrimental to your listing if the prospective purchaser does not see the property in the same light that you do.
Content Summary
- Nobody ever gives their garage any thought unless they absolutely need to utilise it.
- However, if you want to sell your property quickly, you shouldn't ignore the condition of your garage.
- It's possible that the value of your home is increasing even more than you realise.
- Continue reading if you have plans to sell your home in the near future, or if you are simply curious about the factors that go into determining the market price of a home.
- In this lesson, we will cover all you need to know about garages, including how they affect the value of a property.
- The addition of a garage can boost the price of a home by several thousand dollars.
- As a consequence of this, prospective purchasers are less likely to look at a house that does not have a garage, and the house will almost certainly sell for a lower price than a comparable home that does have a garage.
- The initial expenditure required to build a garage is substantial; nevertheless, the possibility of a positive return on that investment makes it a project that should be seriously considered.
- The amount of value that a garage will add to a property cannot be determined with absolute certainty, however it has been discovered that the absence of a garage can reduce the value of a home by as much as $10,000 during the appraisal process.
- There is also significance in the location that you call home.
- Garages are in high demand here because of the very severe winters we have.
- To avoid fighting the elements when lugging a load of groceries or simply making their way to and from their automobiles, many people believe garages to be an important need. This allows them to do so without having to worry about getting wet.
- Because of where we are situated, purchasing a garage typically results in a very healthy rate of return.
- Constructing a garage is likely to result in a higher return on investment for the homeowner.
- Therefore, if you have the space for it, purchasing one can be a good investment for you.
- The return on investment (ROI) for a garage is often rather high.
- The typical return on investment is believed to be 65%, which is fantastic news for homeowners who aren't in a hurry to sell their homes and can take advantage of the benefits that a garage may provide.
- It is a nice-to-have bonus, but it may come at a high cost.
- The difference in value between a number of homes ranged from $6,500 to $13,000 in many cases.
- The value of your property could be greatly increased by making a few straightforward enhancements to the garage that is currently there.
- The first step is to make the most efficient use of the space that is available by building storage facilities.
- Your garage will look tidier as a result of the addition of these compartments, which also provide additional storage space.
- Using shelves, hooks, and pegs that are installed on the wall, you can organise items such as shovels and bicycles.
- When a workstation is not being utilised, its workbench and drawers can be folded up out of the way.
- You will be able to make greater use of the space available to you as well as ensuring that it is risk-free if you remove them from the floor.
- Do you not own a vehicle or have a lot of things that need to be stored?
- It is a waste of space to have a garage that isn't being used, so why not transform it into something that has more practical uses?
- Even though many people still favour having a garage, adding an additional room to a house can be a useful method to expand the amount of space that can be put to practical use.
- If you choose to repurpose space, you need to exercise extreme caution.
- Ensure that the garage has a roof that is watertight and that it is insulated.
- It may be necessary to hire professionals for the installation of plumbing and electrical in the space, depending on its planned use.
- If you want to play it safe, you should check with the local authorities to determine if you need a permit.
- It is possible to think of an infinite number of uses for a garage.
- Create a laundry room that is separate from the living space and the appliances. This room can serve multiple functions, such as storing items or serving as a hangout spot with couches and a television.
- It is not necessary for the garage to be a dreary and uninspiring location.
- The addition of some dynamic lighting and a light coat of paint on the walls will make the area come alive and give it aThe newly adopted, airier look has dramatically improved the comfort level of the workplace. more welcoming vibe.
- A warm and inviting ambience can be produced by lighting both the ceiling and the walls of the garage.
- It's possible that rewiring will require the services of a trained and certified electrician.
- A door made of solid wood that requires a significant amount of effort to open will turn away prospective buyers.
- Either instal a garage door opener that operates automatically or swap out the old wooden door for a more modern, lighter aluminium model.
- The resale value of the door is significantly higher than that of the remainder of the house.
- The exterior of the house should be painted to match the colour of the newly installed door.
- Make its primary function that of a garage, and nothing else.
- Converting your garage or even just a portion of a two-car garage into a studio, refinishing area, or craft room will not result in a rise in the value of your property.
- It could be detrimental to your listing if the prospective purchaser does not see the property in the same light that you do.
- Nevertheless, there is an exception to this rule, which is as follows: If you construct liveable space on top of the garage and outfit it with a bathroom and kitchen, the value of your property will rise as a result of these improvements.
FAQs About Garage Renovation
How Can I Redo My Garage Cheaply?
Inexpensive Garage Makeover Ideas That Are Cheap to Complete
- Store tools on magnetic storage panels.
- Add ceiling hooks for bike storage.
- Craft a DIY garden tool holder.
- Hang overhead storage shelves.
- Keep sporting equipment and like items together.
Is Renovating a Garage Worth It?
Whether you're just adding storage, re-coating the floor, or doing a complete teardown, garage improvements are well worth the investment. Your new and improved garage will give you a ton more storage and flex space. You can make a new hobby or workshop room, a home gym, or give your family more room to spread out.
Do You Need Planning Permission to Turn a Garage Into a Room?
Planning permission is not usually required to convert your garage into additional living space for your home, providing the work is internal and does not involve enlarging the building.
What Is the Cheapest Wall Covering?
If you intend to maximize the cost of wall covering in the cheapest possible way, we recommend you use plywood.
They're accessible, affordable and straightforward to assemble. Plywood is a wall covering material that'll not only save you money but time when remodelling your wall.
Should You Convert Your Garage?
You could simply clear it out or, if you want to add space and value to your home, a garage conversion could be the answer. It'll give you extra room that's tailored to your needs and could also increase your property's value by up to 10 per cent.