6 Garage Upgrades To Boost Your Property’s Value

Homeowners who want to sell their homes in the future are always thinking of ways to boost their property’s value. This can range from upgrading the kitchen, living room or even incorporating smart technologies. The problem, however, is that the garage is often left out when prospective home sellers think of updates to boost their property’s value. 

Will an updated garage really boost your property?

Even as simple as repairing your garage door may already boost your property’s value. In fact, it’s estimated that when you avail of the services of a garage door repair professional, you’ll get around 91% return on investment (ROI). Hence, even if it can be initially expensive to create a garage or update your existing one, the ROI can be quite high if you decide to sell your property. What these statistics imply is that a garage indeed does have a significant impact on the overall value of your property. (1) (5) 

When it comes to the appeal, most potential buyers won’t even consider your house or won’t spend time considering it if your home doesn’t have a garage. If they do consider buying your home, they may bargain for a much lower cost due to the absence of a garage, deducting around USD$5,000 – $10,000. (1)

Also, it’s important to consider the relationship between where you live and garages too. Let’s say your property is situated in areas where rain usually occurs. This means that a garage becomes a necessity for car owners so they can safeguard the latter, which is also quite a hefty investment. (1) 

Lastly, a garage can also do wonders for potential buyers who need an extra room. A garage isn’t limited to storing and protecting a car from various elements, but it can also act as a space for your home gym, dance studio, workshop, and many more. (7)

Garage updates to boost your property’s value

It’s important to note that simply having a garage, especially if it’s already worn out, may not boost your property’s value as high as you hope. But you must also have due diligence to upgrade it so you’ll get the ROI you want. 

Hence, to help you out, here are some garage updates that’ll surely boost your property’s value:

  • A smart garage door

As mentioned above, even as simple as repairing your garage door can already boost your home value. You can only imagine the boost if you decide to replace the traditional door with a smart one, especially since it’s all the rage nowadays.

A smart garage door is easy to use, too. All you have to do is link the garage door to your home’s Wi-Fi. After doing so, you’ll now receive notifications to your phone if the garage door is left open, significantly reducing the chances of theft. You can also open or close the garage door remotely, so you don’t have to get off your car if you want to close the garage door. 

Speaking of garage doors, since your garage will be part of your house’s exterior, which has a huge impact on your home’s overall appeal, then don’t forget to make your garage door stylish and complement your house’s theme. (2)

  • Install slip-proof floors

A slip-proof garage floor may not have a significant impact on your property’s value, but it’ll surely be a great safety feature that many potential homeowners appreciate. Now, when you already have this update, don’t forget to mention this to your realtor. 

If you, too, value safety, here’s how you can create a slip-resistant floor:

  • You can texture the concrete
  • Add some gritty material to the floor’s surface. 

(1)

  • Add security features

In addition to safety as an inherently valued characteristic that every potential homebuyer looks for when purchasing a property, you must also pay attention to your house’s security.
Intruders usually prefer the garage as the major point of entry into your home. This being said, it’s best if your garage has a solid security system. By having one, you can rest assured that your property will be well-protected. (3)

  • Install proper lighting

Having ample lighting will ensure that your garage is comfortable and safe to use, which is important if you’re using your garage as a workshop, too. 

When picking lighting, opt for light bulbs that can properly laminate the driveway to the doorway, such as the traditional fluorescent bulbs. This way, you can be assured that you won’t experience slip-and-fall accidents when you walk at night. 

On the other hand, you can also opt for LED lightbulbs as they’re more cost-efficient and durable than traditional fluorescent bulbs. If you really want to reduce your energy bills, which is also an appealing feature that homebuyers look for, then you can opt for motion sensor lights. (2)

  • Make space for a custom workspace

Surely, you don’t want to do your woodworking project in your living room since sawdust may spread all over the room, triggering any allergies. A garage is a perfect area to conduct any woodwork, fixing your car, or even doing some oil painting. Thus, one of the upgrades you should consider is to add space for a custom workspace. 

What’s good about this update is you don’t have to shell out plenty of plenty. You can simply organize your belongings to make room for the essentials that your hobby demands. Some cupboards and pegboards would already suffice as a functional nook, allowing you to have the space you need. (3)

  • Have proper insulation

If you live in an area that’s constantly experiencing extreme cold or heat, then it’s important that you insulate both the walls, ceiling, and doors, especially in your garage. By insulating your garage, cold or hot air won’t enter your living room, which is especially true if your garage is attached to your main home. Hence, your HVAC system won’t work twice as hard to keep you cool or warm, saving energy-cost, which, in turn, can surely boost your property’s value. (4) (6)

Takeaway

As shown in the article, your garage will surely boost your property’s value. However, just because you have a garage doesn’t mean that you can price your home as high as you would like. You must also do your part to beautify it. Fortunately, the list of garage upgrades listed above would help you make a good start. 

 

References

 

  1. “12 Garage Upgrades That Will Increase the Value of Your Home”, Source: https://www.garagecabinets.com/garage-upgrades/
  2. “4 MAJOR GARAGE UPGRADES TO INCREASE YOUR HOME’S VALUE”, Source: https://www.michbelles.com/4-major-garage-upgrades-to-increase-your-homes-value/
  3. “5 Garage Upgrades That Will Increase Home Value”, Source: https://www.flowwall.com/blog/5-garage-upgrades-that-will-increase-home-value
  4. “9 Garage Upgrades That Could Increase Your Home’s Value”, Source: https://www.geico.com/living/home/home-improvement/garage-upgrades/
  5. “8 Statistics Every Homeowner Needs to Know to Increase Property Value”, Source: https://www.arlinghausair.com/8-statistics-every-homeowner-needs-know-increase-property-value/
  6. “Energy efficiency increases building property values and ease of selling”, Source: https://www.iea.org/reports/multiple-benefits-of-energy-efficiency/asset-values
  7. “Garage space is top of the tenant wish list for 2021”, Source: https://www.propertywire.com/news/garage-space-is-top-of-the-tenant-wish-list-for-2021/