Whether you plan to sell your home in the near future or you see yourself living out your golden years in your current home, it is always a good idea to add value to the property. The greater the value of your hope, the greater the power you have financially. Plus, improving your home means that you will find your home to be a far more enjoyable place to live. After all, one of the primary reasons why you want to improve your home is to benefit you.
This is why you should consider adding a crotch to your property if you do not already have. A garage not only protects your car from the elements, but also becomes a place that protects it from potential theft, while also providing you with additional storage space. Plus, you can have a garage built to fit just about any size or space on your property, giving you a secure location for your vehicle with a stylish door that adds additional security and value.
Yes, But How Much Value?
This may sound like a great idea to you, but you are wanting to know what kind of value a garage adds to your home. To add a garage to your property can be costly. There is no denying that. This could cost you somewhere between $16,000 and $38,000 for an attached, two-car garage. For a single car attached garage, you are likely to pay somewhere between $7000 and $10,000. Detached garages can be a little less expensive, as many two-car attached structures caused between 9000 and $20,000.
Then there are additional costs that may be involved. If you decide that you would like a more advanced electrical or plumbing system added to the garage, then you may pay an additional $10,000, maybe even a little more. It depends on all the amenities or accommodations you want for your garage that will determine its overall cost. In other words, you could find that your garage could cost you about $50,000 to install.
There is no denying that that is a significant amount of money, but real estate analysts explained that for every one dollar you invest in your garage, you will see a return of 30%. That means that your $50,000 garage would give you $65,000 in additional value to your home.
That is just a low figure, according to most analysts. Depending upon all the amenities that you added to your garage, including epoxy floors, plumbing, a heating system, and garage door opener, you may see that value increase as much as 40% or even 50%. In terms of investment, you are not going to find many opportunities where you can add an additional 40% or 50% to your investment. That makes a garage a wise investment indeed.
This is definitely a smart decision, not just because it adds value because it protects your car and adds greater security. A garage ensures that you can keep your car secured behind a premium garage door and adding a garage door opener means you do not need to get out to park your car at night. This protects you from the elements as well. There is no denying that adding a garage to your home is a smart decision and one you may want to consider.