How Much Does a Detached Garage Add to Property Value?
Detached garages. They’re a big deal. You can have a ton of extra space for both storage and work with them. But beyond just being functional pieces that assist you in being organized and productive detached garages are also important for the overall resale value of your home.
That’s why we’re discussing the significance that detached garages can have on your property value.
What Exactly Qualifies as a Detached Garage?
Essentially, a detached garage is any garage that’s separate from the house. More technically this means that the structure doesn’t share either a roof-line or share a wall with the actual home structure itself.
There is an additional subcategory of attached-detached garages in which there’s no shared wall but the roof-line is shared.
In this article, we will be focusing exclusively on proper detached garages – no shared roof-lines here!
When a Detached Garage Steals Value
Before we get into what detached garages can bring to your resale value it’s vital we cover how they can detract away from it. Because, honestly, just having an additional structure on your lot doesn’t automatically translate into property gains.
First, you need to consider the overall market and the size of your lot. Detached garages can take up a lot of space – if you have a fairly small lot then it’s probably not a good to pursue adding one; it’s just going to make the layout look cramped.
The same is also true if you live in a highly concentrated and/or highly stylized community. These types of neighborhoods tend to frown on these sort of additions and it’s highly likely you’ll be running into an HOA that completely denies your capacity to build one.
Second, is the overall upkeep of the structure. Having an old and run-down garage isn’t going to play in your favor. This won’t be an issue if you’re planning to immediately add the detached garage prior to selling – a brand new structure is sure to stand out.
But, if you have a detached garage that has been there for some time then consider investing some renovation money into it. At minimum, give existing detached garage a solid, thorough cleaning and a fresh coat of paint.
Maximizing Your Investment
To really pursue getting the best return on investment with your detached garage property value, you need to apply some real planning.
First, you need to consider the overall environment where the garage will be. Do you live in an area that has harsh winters? Be sure that the detached garage has a stout and reliable heating system preset. If you live in the south where the summers blaze – be sure to have an appropriately robust air conditioning system installed.
Second, consider the overall aesthetic of the garage. Be sure to have a fresh, clean paint applied where appropriate and that all the exterior components of the garage are clean. It’s also a good idea to consider incorporating landscaping around the detached garage set to match your own home.
Finally, make sure that the storage layout of the garage is sensible and complete. Ensure that there are no awkward or odd arrangements and that the garage has a solid structure to it.
So, What About The Actual Value?
Let’s set our expectations before we go any further. Adding a detached garage will come at a cost and unless you’re pulling some real DIY magic in cutting costs you’ll probably not earn back the full value of the addition. But, that doesn’t mean it’s a bad investment – especially if you plan to put it into active use for yourself prior to reselling.
The overall national average is that you recoup about 65% of the value of your detached garage during resale. That percentage serves as a solid baseline since there are so many different configurations and sizes available in detached garages.
It’s important to bear in mind that different markets will have different ROI rates applying though – that national average is just that; an average. Supply and demand are very much at play when it comes to evaluating the worth of your detached garage.
Detached Garage Property Value
Altogether, property value will significantly increase once you build a custom size garage. For example, if you build a 2 car garage or a 3 car garage then you will notice that more buyers will be requesting for a showing.
People will spend more for a sizable garage because they want space for motor vehicles and fun rides. However, not all companies are trustworthy with garage building. That’s why over 100,000 happy customers since 1959 are choosing Danley’s for their garage construction.
We simply have the professional installers and local services that will go above and beyond to build your dream garage. Speak to a specialist and get a free quote online today!