In addition to protecting cars and other vehicles from bad weather and animals, garages provide extra storage space which is always a plus. They can also expand the living area and serve a multitude of uses, such as providing space for an outdoor gym or room for an impromptu band rehearsal with the old roommates.
A recent report by the National Association of Home Builders found most buyers want a garage. About 32 percent of buyers said they view garage storage as essential, while 54 percent rated it as desirable, according to the report What Home Buyers Really Want.
Most buyers covet a large garage, with more than half saying they want a two-car garage and one-fifth of buyers saying they want a garage that can hold three or more cars, the report says.
Exactly how much value a garage adds to a home will vary depending on multiple factors, such as the home’s location and local weather. Still, if you don’t have a garage, building one is a great way to add convenience and storage space.
It also can be a good investment, according to Remodeling magazine’s latest Cost vs. Value Report. A homeowner who invests the national average of $48,806 in a freestanding two-car garage can expect to recover roughly $31,000 at resale – nearly 64 percent of the cost and more than an added-on bathroom and in-line with a major kitchen remodel. If the homeowner invests the national average of $80,511 on an upscale garage addition, they can expect to recoup more than $44,000, or about 55 percent.
To read more about how remodeling or building a garage can add value, go to: http://www.remodeling.hw.net/2013/costvsvalue/national.aspx