When people think of home improvement projects that will add value to their home, most consider upgrades in the kitchen, bathroom or basement. But did you know your garage could hold the key to an immediate addition in home value?
That’s right. The garage. For most homeowners, the garage is the most underutilized space in the house, usually just a spot to keep the car warm and dry or to store extra stuff. But with a little investment and imagination, the garage can turn into real value.
Updating Your Garage to Add Value to Your Home
Here are three ways to upgrade your garage that will produce an immediate increase in your home value:
Replace the Door. Besides the exterior of the house itself (siding/brick, etc.) perhaps nothing on your home screams “curb appeal” like the garage door. An old, rusty door or one that’s peeling paint is a sure turnoff to potential home buyers. Of course, that will reflect in your home’s appraisal, too. Functionality is important, too. If your door squeaks or gets stuck easily, that’s a serious flaw that will drive down the value of your home. The simple solution is a replacement door, one that will work flawlessly and add needed aesthetic value to the outside of your home. A top-notch garage door replacement could add up to $2800 to your home’s value the moment it’s installed.
Adding Space-Saving Storage. One of the catch-22s’s in any room addition or expansion is the loss of storage space. For many buyers, that’s a cause to put in a lower offer or even not make one. Optimizing the storage space in your garage with shelving can make your house the one that stands out above all the rest.
Turning the Garage into an Extra Room. If your house is built on a slab, there’s no opportunity for a finished basement. And for most homeowners, finding space inside the existing floor plan to carve out another room is a losing idea. That’s why turning the garage into additional living space is such a great idea!
Whether you’re planning for in-laws quarters or just a man cave, the garage has all the space you need, easy access to plumbing and electricity and adjoins the main part of the house while still providing privacy. Here’s where you can add some big bucks to your home’s value: the average room addition (family room, bedroom, basement) adds anywhere from $48,000 to $74,000 to a home’s resale value. One caveat, however: it’s advisable to leave the exterior garage door intact. That gives the buyer the option of continuing to use the space you’ve created as a room or turning it back into a place where they can park the cars.
Transform Your Garage Into…
What Are You Waiting For?
If you’re considering these kinds of projects to add value to your home, contact us and we can help you turn your garage into a moneymaker. Our experienced team serves the St. Louis metro, St. Charles County, and Illinois, and would be happy to brainstorm garage improvement ideas with you.