We know kitchen and bathroom renovations have high ROI. But what about your garage?
In April the trade publication Remodeling released their “2024 Cost vs. Value Report,” comparing 23 remodeling projects across 150 national real estate markets. Each project was ranked according to its ROI (return on investment). At the top of the list? Surprisingly, it’s replacing your garage door.
While this is admittedly a curb appeal project that has more to do with the outside than the inside of your garage, it got us wondering: how much value does it add to built out storage space, a workbench, or a lift in your garage?
We know that having a garage definitely improves home value. According to Zillow’s 2024 analysis of listings, home descriptions that merely mentioned their garage got a 0.3% boost. People want a place to park their car. In terms of remodeling, Zillow’s analysis concludes that turning your garage into an extra bedroom is not a savvy investment. It follows then that showing off your garage’s utility as an actual garage is a good move for prospective sellers.
Buyers are influenced by first impressions. Sometimes a real estate agent will take prospective buyers through the garage first before entering the rest of the house. Seeing a clean, well-organized garage with totally open floor space and professionally built storage and work space can have a big impact. Not only that, but the rest of the house will have more appeal since you can more easily make it clutter-free with the additional space in the garage.
Extra storage in your garage can also open up opportunities for renovation in other parts of your home. We’ve had plenty of clients tell us they are now saving enough money from storage lockers fees they no longer have to pay that they can put towards improvements in the rest of the house. Maybe the extra bedroom that had become a de facto storage locker can now finally be remodeled into something that will truly improve your home’s value.
Ultimately, investing in custom, professional garage storage pays dividends both now and in the future when it’s time to sell.
Schedule a free consultation today to see what Garage Envy can do for your garage.
