If you’re a savvy home or building owner, the value of your property is always something you’re considering in the back of your mind. Even if you aren’t looking to sell anytime in the near future, keeping an idea of what your home or building is worth is important for everything from equity concerns to taxes and other vital financial areas.
At A-Shed USA, we’re proud of the way several of our sheds and similar structures help add to the value of your home. One such structure, whether detached or attached to the home or building itself, is a new garage – we have a huge variety of options large and small here, and they’ll do far more than just increase your day-to-day convenience. Let’s go over how our garage builders can help add value to your property with a new garage installation.
Over the last several years, more and more homeowners have begun to realize the value that various renovations and upgrades can add to their structures. A survey from 2018 showed that over half of all respondents had done some kind of upgrading or remodeling on their property just during that calendar year.
The primary goal with these kinds of upgrades is find great return on investment, or ROI. Essentially, based on market factors and what buyers prioritize, are your upgrades going to add additional value on top of what you pay for them? New garages regularly add a ton of this kind of value – our next two sections will help explain how this happens.
One of the largest single factors in the value of any property, particularly residential properties, is the price per square foot of the house. This value is determined by a specific formula – we won’t go into the entire thing here, but it suffices to say that the more practical square footage present on your property, the better its value.
And if nothing else, what does a new garage add? Practical square footage. A garage brings specific worth to the property in this manner, which directly improves your property value almost no matter what purpose you use it for.
On top of this, a new garage increases the storage space you have available on the property. Storage space is another highly desirable area for buyers, who can use it in a number of ways. Some people even go so far as to rent out their additional storage space, and this plus numerous other benefits make space a big value-add to the property.
For more on how a new garage can add premium value to your property on top of what you pay for it, or to learn about any of our sheds or garage services, speak to the pros at A-Shed USA today.