In 2018, one study showed that only 1 in 10 homeowners said they didn’t need a garage. This is far from surprising considering how beneficial a garage is.
As a result, having a garage can significantly increase your home value.
Read on to learn why so many people are willing to spend more on a home with a garage.
If you’ve ever bought a house, you know that you had to drive by it before setting up a tour. This is because realtors often want to make sure that you’re interested in a home and its location before spending time on you.
You probably also know how important the outside of a home is to winning you over.
When people first see a house, having a garage adds to the curb appeal of the home. A front-facing garage not only makes your home look better but indicates several other benefits to potential buyers as well.
These benefits are why you can earn an easy 80% ROI on any garage improvement. It adds value in the eyes of homebuyers.
A high return on investment still might be enough for you to add a garage to your home or renovate the one you have. Still, garage cost becomes well worth it once you factor in the additional savings you’ll make.
Both you and future buyers will save money through the protection a garage provides for your car. A garage protects your vehicle from sun damage, falling tree branches, theft, and more.
It also provides you with additional parking spots for your family and guests.
Increasing Storage Space
Garage organization is another reason renovated garages add value to your home.
These days everyone loves an open concept floorplan, and even before that, people already had a hard time fitting all of their stuff in their house.
To avoid crowding their home or yard, many people rely on the space in the garage to store extra items. From hooks and shelving to beautiful storage cabinets, doing so is easy.
Additional Living Space
Nothing adds value to a home appraisal like additional living space. This is especially the case if you have a separate area available for parking already.
The extra living space a renovated garage provides can be used personally or rented out, providing a steady stream of income.
Even if your garage isn’t fully renovated, the garage is a popular space for gyms and home studios.
These are all selling points you can use to increase the price of your home when the time comes.
Increase Your Home Value
Owning a garage comes with many benefits, including extra living space, storage space, curbside appeal, and car protection. You get to enjoy these perks while residing in your home and then use them to increase its value when you choose to sell.
In the same way that renovating a bathroom improves your home value, so does improving your garage.
If you’re interested in increasing the value and appeal of your garage, check out our process for doing just that today.