Garages are a standard feature on most homes built in the past sixty years and even longer. And, in a sense, there have always been garages, only they housed horses instead of horsepower. In the years following World War II, homes with attached or detached garages became the norm as car ownership proliferated.
Today, garages are used for almost everything other than a place to put your car. A home gym, storage for holiday decorations and other “stuff,” laundry rooms, and office space with so many people working from home. Some homeowners even turn their garages into additional living space – but any real estate agent will tell you to get those permits!
Still, many homes do not have a garage at all. As a homeowner that is currently garage-deficient, you may be wondering if adding one is worth the investment. As with any home improvement, the price tag will be an important factor–but it shouldn’t be the only consideration.
Does Having a Garage Add Value to Your House?
If you don’t have one, should you add a garage to your home? As part of a whole-home remodel, adding an attached garage can make sense for all of the reasons we mentioned above. It can be less per square foot than the interior of the home renovation and costs less than adding a detached garage.
Building a new garage will cost you anywhere from $10,000 to $40,000 depending on size (single car or two) and even more depending on the features you want. Will you get all of that back on the resale value of your home? Probably not: The standard is somewhere in the neighborhood of 80-95 percent ROI of the cost to build a garage.
But does a new garage help sell your home? In most cases, homebuyers are looking for somewhere to put their cars (or toys, workbenches, storage, etc.). If a home doesn’t have a garage, those folks will keep driving. But for the rest of the potential buyers, there are considerations beyond the additional storage space.
1: Lot Size – How will a new garage affect the square footage of your home? A detached one-car garage will take up even more room overall than an attached version. Will you be losing what little yard you have? Is there room in front of the home, or will it need to be accessed from the back?
2: Garage Size – Building a detached garage for three cars to go with an 800-square foot home probably doesn’t make a lot of sense no matter how many toys you (or prospective buyers) have. So make sure it fits with the rest of the home. And while they don’t help pay your mortgage, how will the next-door neighbors feel about a massive RV garage going up five feet from the property line?
3: Neighborhood Aesthetic – Speaking of neighbors, are there any other garages on your street? Or are you the only home without a garage? While homeowners like to have a little personality to their home, many won’t want theirs to stick out like a sore thumb.
Remodeling an existing garage is also an option to help add value to your home. Adding air conditioning, built-in work areas, and additional storage are all good ideas to attract the right buyer. But you won’t necessarily get all of that money back.
One of the quickest and easiest ways to give your garage space an immediate uplift is the garage door. With improved R-value insulation, sleek and stylish designs, and a variety of materials to choose from, there’s a garage door for every type of architecture.
For more than 25 years, Ponderosa Garage Doors has been installing, replacing, and repairing garage doors in Southwest Washington and the Portland Metro area. If you are considering building a new garage, or just want to improve the curb appeal of your current garage, get in touch with us today!