How A Garage Increases The Value Of Your Home

by | Feb 25, 2016 | Construction & Maintenance

It’s fair to say that a garage is ideal for protecting your car and valuables from weather and possible theft, but are you also aware of how a garage adds to the appraised value of your home? Regardless of whether you are planning to keep your home indefinitely, sell it now or in the future, a garage is something that adds considerably to your homes market value. Garage builders in Chicago know that the additional space provided by a garage is great, but a garage also adds square footage which in turn boosts the value. Studies have been conducted in various parts of the country and the result is quite interesting. Realtors, people who deal with homes and home sales every day find that on average, a garage adds up to 13 percent to the value of the home when it’s put on the market. If a house without a garage was priced at $200,000 the same home with a garage would go on the market for $226,000.

When a home is being appraised there are numerous things that are taken into account. The neighborhood is important, the price of similar homes in the immediate area, style, condition and any renovations that have been carried out and the size of the garage if there is one. Knowing that a garage adds considerably to the value of a home it is not surprising that garage builders in Chicago are kept busy adding this feature to existing homes.

Garages can be designed and built for one or more cars; they can be free standing or attached to the house and for most, an attached garage is favored. When it has been decided to construct an attached garage it is extremely important that it complements the style of the home and is faced with the same material.  Appraisers most definitely consider the garage; if neighborhood homes have a garage and yours doesn’t the appraisal will be negatively affected. The appraisal takes into account the presence of a garage but also the size. If all the homes in the neighborhood have multiple car garages and you have a single car garage expect the appraised value to be less.

Although the presence of a garage is important, so is the condition. Knowing how important a garage can be when it comes to determining the value of your home is one thing; keeping it in good condition is another. Garage builders in Chicago are available to maintain or replace damaged garage doors.

Adding a well designed and built garage on your property can add considerably to the assessed value of your home. The best garage builders in Chicago to discuss this with are The Garage Guys at Absolute Garage Builders Click here.

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