Will Building A Detached Garage Increase Your Home'S Value?

     

Even if you're not planning khổng lồ move, you might want to consider whether a garage will showroom value to lớn your house. Learn about the value, costs & types of garages you might showroom to your home.

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Although a garage isn’t typically the first thing that homebuyers think about when they’re shopping around for a new house, it might actually be an important factor khổng lồ consider if you’re planning on selling your home.

Figuring out how much value a garage adds khổng lồ a house và if it’s worth building one, can have an impact not only on the value of your home but also the money in your pocket.

Adding a garage khổng lồ a house: Is it worth it?

To start, if your trang chủ doesn’t already come with a garage, you might want khổng lồ think twice before adding one. “It adds some value but not as much as you think,” said Deb Tomaro, a real estate agent with Encore Sotheby’s International Realty. “I would always recommend my sellers khổng lồ take into trương mục what is normal for the area. Adding a garage in an area where garages aren’t expected can showroom a little value, but probably not as much as it will cost you lớn build it.”

Alternatively, if yours is the only house in the neighborhood without a garage, it will likely địa chỉ more value. It really all comes down khổng lồ understanding what’s expected of the homes that have been sold recently in your area.

How much does it cost to lớn build a garage?

According to HomeAdvisor, the typical range for building a garage in 2020 was between $16,816 và $38,890. In general, you can expect to spend about $50 per square foot, which puts an average single-car unit between $10,500 & $27,000 & two-car options between $14,500 & $40,300.

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Additional factors that impact the overall garage price include:

Materials (brick, cinder block, brick veneer và metal are popular options)The types of doors and openersDrywall and insulation (with blown-in insulation & batt insulation being the cheaper options compared khổng lồ spray foam insulation)
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Should you build an attached garage or a detached garage?

If you’re building a new garage, whether you decide to go with an attached or detached option will impact what you pay. For example, an attached garage costs about 10-15% less than a freestanding, detached version of the same form size and materials. Whether or not it’s important that your home offers an attached versus a detached garage will again depend on other homes in your area.

“The garage that blends in well with the footprint, style và curb appeal of the home is the best in terms of value,” said Tomaro.

Is it worth it to lớn renovate your existing garage?

When it comes lớn the overall sale of your home, what’s inside your trang chủ is likely more important than having an immaculate & impressive garage. “Most buyers don’t spend much time looking at the garage, unless it’s really important to them, which often it’s not,” said Tomaro.

Although renovation might be a strong word to lớn use, in some situations, it might be a good idea to lớn make some minimal updates lớn your garage. “A garage with peeling paint can be a problem for certain kinds of loans,” she said. “If any portion of a property is not in similar condition lớn the rest of the property, that raises red flags to lớn buyers. Why was the house maintained but not the garage? Or did they slap some lipstick on the house to sell it but not the garage? What underlying issues are there?”

DIY vs. Hiring a contractor

As far as making any big changes to a garage—or adding on a new garagealtogether—Tomaro doesn’t recommend going it alone. “A garage is part of the structural component of a property,” she said. “There are usually permits, inspections, setbacks & other rules that come into play. I’d not recommend this for the typical DIYer, although finishing off the drywall in an unfinished garage, painting and sprucing up are all things a DIYer can do.”

Conclusion

Your neighborhood will dictate a lot about what you should consider doing with, adjusting or even adding a garage lớn your own home. Vày your research about homes in your area, và be smart about your own garage investments with regard khổng lồ how it fits with the rest of your home.

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Disclaimer: The above is solely intended for informational purposes và in no way constitutes legal advice or specific recommendations.
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