Does A Garage Help Or Hurt Your Home Value?

When you're trying to sell your home, a lot of factors go into the final sale price. Between location, square footage, home amenities, and the condition and age of your property, it's easy to overlook or misunderstand just how much some particular features can add to or detract from your home's value. One feature homeowners often tend to forget about is the garage. Luckily, this common addition to homes can increase your property's value rather than take away from it.

A garage is a versatile home feature that'll boost your property value by 13% on average. That's because garages appeal to most buyers for various reasons, including providing theft and weather security for their vehicles, granting ample storage space for tools and sports equipment, and even doubling as a gym or extra living space. Still, not every garage will add the same amount of value to your property. The total value your garage adds to your home depends on various factors, including its type, size, and condition.

One garage feature that instantly adds to your home value is direct access to the inside of your home. While detached garages have their unique set of benefits, like added privacy and conversion potential, garages that are attached to the home generally see a bigger return on investment. This type of garage is the more practical choice, as it allows residents to get to the space without stepping out into the weather. Plus, this garage type is often less expensive to build and maintain, making it the obvious winner for homeowners who are considering adding a garage to their properties. 

The garage size is one of the more obvious factors influencing its total value. Buyers generally consider larger garages more valuable than smaller ones. While a one-car garage might be ideal for singles, couples, or smaller families, a two-car garage provides more convenience, both when it comes to housing more cars and using the space for other purposes. Garage storage affects your home resale value as well, and a bigger garage also comes with more opportunities for building ample storage.

Finally, the general condition of your garage is an important part of the equation. Garages that are in disrepair or generally poorly maintained tend to be valued lower. Luckily, a few small upgrades like decluttering the area, fixing any leaks, or painting the garage door can go a long way in making the space feel more attractive and increasing its value.