There are many ways to add value to your home if you’re considering putting it on the market in the near future. While some changes are quick and inexpensive, others may require taking out a loan so you can get more money from your house. Adding a garage to your property helps add more value to your home.
Adds Square Footage
When appraisals are done on houses, the value of a home is determined by its square footage. Whether you add a detached or attached garage, you are adding square footage to the floor plan of your home, which automatically increases its value.
Single-car garages in Rising Sun, MD can add approximately 13% to the value of your house, and oversized garages add about 14%. So, if your home is valued at $250,000, adding a one-car garage will add $32,500 to its current value.
Cost of Adding Garage
The cost of adding a garage mainly depends on the size of the garage and how it is built. A simple wooden or metal garage may cost up to $7,500, but some models could be less expensive. If you want to add a garage where there isn’t one, contact Green Tree Structures for an estimate on building one on your property.
A garage that is in bad shape on your property can lessen the value of your house. You can either choose to leave the structure up, or have it torn down to retain your home’s value. In addition, if other homes in your area have garages and yours doesn’t, that factor will also have a negative impact on the value of your house.
Adding a garage to your property provides an approximately 81% return on investment. So, if you don’t currently have one, contact a company who builds custom garages for an estimate on building one on your property.
