A garage can significantly increase the value of your home. Most homebuyers prefer homes with larger garages. With a spacious garage, you will not only be able to park and repair your car but it can act as an organized place to store your things, plus a workshop space for your hobbies.
Here are more ways that your garage can boost the value of your home.
Research shows that the average garage accounts for around 30% of a home’s facade. Whether you prefer contemporary class or carriage-house charm, your garage door design and style set the tone for anyone interested in buying your home. If you have an old and rusty garage, you should consider upgrading it.
Aesthetic appeal isn’t the only reason to upgrade your garage. Study shows that a medium garage door replacement will return around 83.7% of the expenses if you decide to sell your home. However, if you plan to replace your garage door, you should make sure it is complementary to your home’s style and architecture.
Accommodates Your Home’s Style
A garage door with a complimentary design to your home will significantly increase its value. It is important to ensure that your garage door has a design that accommodates your home’s design and style. For example, a wood or steel carriage garage door suits a Colonial or Victorian home. Similarly, a garage door with double-hung wood windows or divided and arched windows is suitable for a craftsman home. You should use modern garage doors with powder-coated glass and stained wood for modern and contemporary homes. These pairings can significantly increase your home’s value.
One of the major benefits of getting a home with a built-in garage is you won’t have to park your vehicle outside your gate or along the road. Condo users are limited to a single parking space and often have a hard time finding parking spaces in urban centers. A home with a garage means that the parking lot is only a few steps away; this makes it more valuable. In addition, a satisfying feeling comes with parking your vehicle in a secure spot within your compound; homebuyers will be willing to pay more for that.
Additional Living Space
When a house has an additional living space, homebuyers won’t hesitate to pay more for it. You can do so much to turn your garage into a living space. Lighting, drywall, insulation, and flooring are vital to making your garage more functional. This will help turn it into an extra living space. Consequently, the value of your home will increase.
A garage can also be used as a storage facility. Homeowners opt for open-floor concept plans for garages because they can be cut into storage space. You can fit a section of your garage with shelves, overhead storage, and hooks. This is a great selling feature that will raise your home’s value.
Increased Energy Efficiency
You can get new garage doors that are sealed, insulated, and designed for energy efficiency. By insulating garage doors, you keep air out: this helps maintain your home and garage temperatures. This setup works efficiently, especially with an attached garage. You should look out for weather sealing and high R-values. Besides, insulated garage doors will help reduce outside noise, making your garage and home more private and quieter. This will have a positive impact on your home value.
Improved Security and Safety
A safer home has great value to you and the potential buyer. Modern technology and features have photo sensors that prevent the door from locking when a car, object, person, or pet is in its way. Besides, there are new garage door opener systems with advanced security features. These features include rotating security codes that automatically change whenever the door is opened. This system is vital in keeping intruders out. A device can also be installed on the garage door and give you instant updates on your smartphone.
Increased Return on Investment
Along with updating your floors, replacing old windows, changing your home’s color scheme, and tending to landscape, renovating your garage will significantly increase your home value. There are many benefits of a home with a high value. For example, if you ever need a reverse mortgage during your senior years, you could squeeze more out of your home equity. Check out this calculator by All Reverse Mortgage to see what rates you qualify for (or could qualify for in the future).
A garage is more than where you keep your car. A garage can significantly increase your home value. From improving security and safety to increasing energy efficiency and creating additional living space, garages can increase your home value in many ways.