In today’s unsteady economic climate, there’s no guarantee when it comes to improving the financial value of your home. But this doesn’t deter enthusiastic homeowners. People are willing to spend up to $150,000 on home additions, such as conversions, to make the most of their home – and any financial gain is a benefit.
Why your garage is the perfect opportunity to increase value
Your garage is a logical place to unlock more value in your home. It’s an additional space that you might not be making the most of. Even if you use it all the time, it might be cluttered and unorganized. Here are a few ways to make better use of your garage:
- Create an organized and storage-friendly space
- Improve the exterior to enhance aesthetics
- Renovate it into a new type of room
- Make more space for parking
Doing these things has the potential to improve the financial value of your home – it could make your home seem more desirable to a homebuyer, for example. But this is a subjective measure of value that isn’t guaranteed. However, some studies say that a residential garage door replacement can increase home value, increasing factors like resell value.
Let’s explore how to add value to your garage space.
4 ways to add value to your garage space
1. Update your garage door
The exterior of your garage has an impact on your home, especially if it’s on prominent display. Your choice of garage door has a significant influence on aesthetics. Updating a dreary, run-of-the-mill garage door façade for something more sleek and stylish can transform your home.
Residential garage doors come in a range of designs, materials, and colors to pick from. And a professional garage door dealer will show you a range of garage doors to suit you, depending on your needs. You can customize:
- Door size
- Design
- Windows
- Insulation
- Color
- Materials
- Openers
2. Create parking space
91.7% of households have at least one vehicle, so there’s no doubt about the importance of a parking space at your home. A garage can help you keep your car safe, protect it from weather, and even improve insurance costs – some insurers favor cars kept in locked garages overnight.
Choose a residential garage door with easy access for cars and secure locking systems. This will help you make the most of your parking space. Consider adding sensor-activated lighting in and around your garage to improve driving visibility at night.
3. Get organized
36% of Americans say that their garage is so cluttered that they can no longer park a vehicle inside, and over half say it’s the most cluttered space in their home. Organizing your garage space has many benefits. A tidy and well-organized home can:
- Improve productivity
- Boost confidence
- Create a sense of pride over your space
- Help you find the items you need easily
You can use tools like labels, containers, storage racking, tool benches, and pegboards to organize your garage. Declutter items you don’t use anymore and consider reselling, donating, or disposing of them. This will help you get more value out of your garage.
4. Renovate
A quiet office space to concentrate when your family runs a ruckus around the house. A home gym to stay healthy and work out, without the need to drive to your local gym. A place to craft your much-loved woodworking trinkets without getting wood shavings around your house.
All these are possible ways to convert your unused garage space – and it’s just waiting for you to make the most of it. 53% of homeowners say that they use their garage space for DIY projects, that’s over half of people who use it as an additional extension to their home. By doing so, you get more value by feeling fulfilled and unlocking extra space.
How to measure your added value
Measuring the value of renovating and improving your garage isn't always quantifiable. Remember that added financial value is a best-case scenario for your home. However, the real value is in making the most of a (sometimes) overlooked space. If you'd like to enhance your garage even more, get help from residential garage door experts on your transformation journey.
