Ask most homeowners and those looking to buy a home and they will agree – a garage is among the key features they value, and for good reason, according to home experts. A garage provides everything from needed storage and protection for valuable assets to overflow space for growing families, so adding a garage or improving an existing one is a great investment.
Garages, especially attached garages, have evolved in recent years from storage for cars, bicycles, and lawn equipment to extra living space. Homeowners and potential buyers are turning to garages for recreation and entertainment space, office space, and workout space. The value a garage adds to a home can range from $12,000 to more than $33,000.
The best news is the reasonable cost of adding a garage. Whether attached or detached, the national average cost of a garage is about $28,000, according to HomeAdvisor, and for Ohio it is even less. For the local Akron or Medina homeowner looking to add a basic one-car garage, the investment can be as little as $10,000. A basic two-car garage could be as low as $20,000.
The typical range for a two-car garage can run as high as $36,000 to $40,000 depending on the extras homeowners choose to add, but those extras, including extra lighting, plumbing, insulation and HVAC, and wiring and circuits to accommodate electronics and internet, are usually worth it. The average home buyer lists a well-outfitted two-car garage as a key feature of homes they will consider.
Garages from Precision bring strong ROI
According to statistics, the return on investment even for detached garages continues to be strong. With more than 80% of homebuyers seeking garage storage as part of their home and nearly half preferring a two-car garage, it’s no wonder that adding a garage is a smart investment even if you plan to sell within a few years.
Consider the following:
- Homes with garages sell more quickly and at higher value than homes without garages.
- Garages usually bring a 75% to 85% return on investment when you sell.
- Many auto insurance companies recognize the protection a garage provides from weather, vandalism, and theft in the form of lower premiums.
- Upgrading or remodeling your existing garage adds significant value to your home, including lofts for storage or extra living space and plumbing.
- Replacing your garage door for sale is bringing a nearly 100% ROI.
New garages and garage upgrades in Akron, Medina
If you are considering adding a garage or remodeling your existing garage, Precision Siding & Construction can help. With expert design plans and excellent pricing, your investment will be well worth the cost. Contact our team of professionals today for details on garage remodeling and additions or for information about all Precision Siding’s home remodeling services.