A garage is a desirable feature for many home buyers. If a home does not have a garage, adding a garage may increase the value in certain circumstances. When it comes to resale, having a garage will slightly increase the price but will have a greater impact on the ease of selling the home.
The addition of a garage:
If a home does not have a garage, but is located in a residential area where garages are the standard, then the addition of a garage will add to the overall value of the home. It will also help you sell the property faster than would be expected, but the total recoup on the investment will be roughly sixty percent of the cost of the basic garage addition.
Buying a home that has a garage:
Having a garage increases the overall value of a home, but the total increase will depend on the neighborhood and surrounding standards. If the home is in a residential area with limited street parking, a garage can increase value by up to $10,000. Realtors indicate that the benefits outweigh the negatives, as a home without a garage is hard to sell regardless of the price.
If you are adding a garage, consider making part of it into living space:
In some cases, it also pays to consider making a portion of a new garage into a living space. Think of it in terms of purchasing a small home, one that lacks an amenity like a second bathroom or a third bedroom, and using a garage to give you the missing space. Converting to a garage space can help sell a home by adding to the square footage, but it is always best to consult professionals from Rossi Construction, Inc.
If you are preparing to add a garage to your Tampa home, call Rossi Construction, Inc. at 813-436-0177.