If constructed properly, a garage can serve many purposes. You can use it to store your vehicles when they’re not in use. You can create a workshop or a bonafide man cave. You can even deck the walls and ceiling with a variety of different storage systems to give you more space in the home. Adding a garage to your house is an investment that will serve many functions, but perhaps the best of all is the increase in home value.
Now, there are several factors that can contribute to adding value to your home, including location, the value of surrounding homes, and other renovations, but you can bet on a garage add-on giving your house a worthy boost in value.
According to a collection of national data revolving around the cost vs. value of various remodeling projects, it’s estimated that a garage add-on can provide you with up to nearly 65% ROI (return on investment) depending on the project size.
Of course, slapping a garage on the side of your house won’t automatically increase home value. This investment is one that must be done properly if you want a worthy return. To ensure that you really do boost the market value of your home, we’ve provided you with a few tips for creating a space that will provide optimal garage value.
Increase Home Value With a Proper Garage
Like we mentioned before, this is an investment that must be done right. Throwing up a pile of 2×4’s in the shape of a garage isn’t going to add any value to your home. In fact, a garage can actually reduce your home’s value if it isn’t built correctly — or at the very least, structurally sound.
Adding a garage to your home will require adequate knowledge and equipment, so if you’ve never built anything of this size and stature before, it’s probably best to hire a professional. If you do decide to go at it with your own bare hands, just make sure you do your research and start with a budget big enough to cover any mistakes and corrections in construction.
Boost Garage Value With Plenty of Storage
Adding the right storage solutions to your garage is a quick and easy way to boost it’s value, appeal, and functionality. Before you choose which garage storage systems to outfit your new space with, consider what you’ll be using the garage for the most.
If you and your family are the athletic, outdoorsy type, get a few sports racks to hang all of your bikes, skateboards, helmets, tennis rackets, and all the other fun, sporty stuff you guys are into. If you’ll be using the garage as a workshop, spoil yourself with a rolling workbench, some utility shelves, hardware storage systems, etc. You can even make your storage systems versatile for the changing seasons. Whatever you intend on using your new garage add-on for, make it count with the right storage setup.
Power and Insulate Your Garage Add-On
Sufficient lighting, proper insulation, and power are the bells and whistles that will really make your garage a value-boosting addition to your home. Like we said before, think about what you’ll be using your new garage for the most and make additions accordingly. If you plan on spending a lot of time in your new garage, you’ll want to ensure comfortable temperatures and enough lighting day or night, any time of the year. If you intend on turning your garage into a man cave or a hangout spot for the kids and their friends, you may even want to consider adding plumbing or a small kitchen area to this new renovation.
So Many Ways to Increase Home Value
As you can see, there are so many ways in which you can increase home value with a brand new (or remodeled) garage. Just make sure that your new renovation project is built properly so you can reap the best return on your investment.