April 30, 2019 | Selling

Do Garages Really Add Value to Your Home?

While it’s difficult to put a direct monetary amount on how this feature affects home value, the short answer is yes – a garage increases market desirability. Nationwide, a functional 2 car garage ranked in the top ten features that Canadians look for when buying a home. In Calgary, garages historically increase equity. In our experience, we’ve seen that a single car garage can create a value of approximately $25,000 while a double car garage can – well – double that.

Whether you are an outdoors enthusiast who wants room for their gear, need the extra space for creative and repair projects, or simply desire a safe place to store your vehicles – a functional garage can create tangible value for your home.

But just how much value are we talking? Realtors look at a variety of factors when coming to this conclusion, so it’s a good idea to educate yourself on what buyers want.

Where Garages Create Direct Value

Typical Costs

On average, a garage will cost about $27,000 to build, with an estimated 81% return on investment. These costs can, of course, be mitigated by planning well, doing your homework and finding the right contractor. All in all, the added value to your home is seen the most when considering how many more potential buyers you will attract.

If your property already features a garage – attached or not – there are many ways to up the sales value with smaller improvements. An upgraded garage door is one of the most obvious ways to do this. For an idea of the cost this could present, get a free local estimate here. This update is a great thought for increasing curb value.

What Buyers Want

Ask your Realtor for insight on what buyers in your area are looking for. Some might want a garage for the space to do their own repair projects rather than hiring a contractor, and others might want the simple security of storage space. There are a lot of factors at play that we are equipped to navigate.

If you’re looking locally, we’ve got you covered. With residential knowledge of what prospective buyers value, we’re able to pinpoint the best options for expenditure and return.

Why Invest in Your Garage

Additional Living Space

In today’s market, buyers want – and need – versatility. This is only one of the reasons that a great garage can help to get your home off the market. Whether you want extra space to host guests and show off your toys, or somewhere at home that your kids can practice their sports through the winter, a well-finished garage can be priceless.

This is especially true when you consider our local climate and how smaller carbon footprints have become a priority. Having additional space that can easily serve several purposes is essential to the majority of our buyers. We find more and more Calgarians are opting for smaller homes.

Storage

It’s common sense that utilizing a space correctly can save on stress. As such, one of the best ways to increase the value of your garage is by creating optimal storage solutions. The right cabinets can make or break a garage, so be sure to consider aesthetics along with functionality if you decide to go this route. Open shelving is also a great option as it’s a bit more flexible for awkward shapes and large boxes.

Further, don’t be afraid to get creative with garage storage ideas. Hanging your bikes or other outdoor gear, having an organized space for tools, or even finding the best spot for an extra fridge or freezer can definitely serve to impress the right buyer.

Hobbies

Do you know someone who is always complaining that they’d love to go camping more, but have nowhere to store their gear? What about a motorbike or car fanatic whose only constriction to their collection is the space to work on new additions? A garage could well be the answer!

Many find garages to be welcome solutions when it comes to securing studio space for their artistic passions. The options are endless, so think big. Turning your garage into a more welcoming and versatile space should be a definite consideration when selling your home.

Security

If you have ever had your car broken into – or worse, stolen – you appreciate what keeping it safe and secure takes more than ever. You can protect yourself and your family from this stressful and inconvenient experience by utilizing a garage.

Further, if you have other valuables that may not fit in your entryway – think splurge-worthy bikes, clunky appliances or instruments, even expensive strollers – having a garage to store them in creates incredible peace of mind, and a lot more room inside the house.

And, if you consider the weather to be a threat (hail, high winds, or otherwise) a garage is a great solution to keeping your insurance premiums down.

How To Get Started

Here are a few local businesses that can help inspire you to see what your garage could be.

If you’re unsure of where to invest with your new garage project, ask us for pointers. We are always ready with honest and professional advice. Selling your home can be an intimidating process, and industry knowledge can go a long way to help simplify the process. Get in touch with us here.

2 Comments

    1. Hi Warren,
      You bet! A garage is almost never a hindrance- if you have the means, then it makes sense.

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