Does a Detached Garage Increase Garage Value?

Does a Detached Garage Increase Garage Value

Does a Detached Garage Increase Garage Value?

Detached garages will be used for at least 10 years from now. When we are going to compare a detached garage to a traditional garage, we find so many benefits and just a few drawbacks.

The popularity of detached garages is increasing daily, and lot sizes are going to smaller size. If you have a Detached Garage and need more space and if you have the right size property, then this is the right solution for you. There are various sizes, styles, and designs are available in the market.

Detached garages are used in offices, home gyms, workshops, lofts, apartments, etc. places. If you are using a detached garage as it’s own standalone, then you find more options and functions than a standard garage.

We have built lots of homes in the last few years, but we have never received a single client regret feedback related to the detached garage. A detached garage also adds some value to the property.

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What Is a Detached Garage?

What Is a Detached Garage

A separate garage from your house is called a detached garage. The main function is exactly the same as the other types of garages, but just one thing is separate, which is it is not connected to the main house.

The main structure is based on four exterior walls, and it needs to be a large room because you need to park your cars and store stuff.

Detached garages are famous for their multiple uses. Modification of detached garages is very easy because here, you can add features, and those features are not available in the home.

The Additional Features of a Detached Garage Are in the Following Below:

  • Home Gym
  • Workshop
  • Hobby Room
  • Work Office
  • Game Rooms
  • Loft
  • Pool Houses
  • 2nd Room Apartment

Generally, a walkway is used to connect the detached garages, which have a roof called a breezeway. Sometimes fully enclosed breezeway is also used, which is called a bridge.

The Difference Between These Two Designs Are:

  • Breezeways are open structure, and generally, it has a few posts which are holding them up.
  • A bridge is a fully enclosed structure. Generally, some windows and exterior doors are there.
  • A breezeway or bridge is linked to the house, but it is still considered a detached garage because the home and garage are individual structures that are linked to each other.
  • A detached garage creates more home designs that you can not able to build in general. These designs can then increase home values even more.

How a Detached Garage Add Home Values?

How a Detached Garage Add Home Values

The most important before investing money is to study your research and understand how a detached garage adds home value. There are many things where you increase the price of a home.

There are a few factors that you need to consider before you spend money on designs or actual work. So, here are the processes that a detached garage adds value and is right for every home.

A detached garage adds value to your home by adding additional square footage. It is also a versatile space, so you can use it for parking purposes, additional storage, a workshop, a gym, a home office, a hobby room, or it may be converted to a living space. They are generally several numbers of options.

Another important point is the location of your house. Generally, most potential buyers disregard a home from their search process if it doesn’t have a garage. So, any kind of garage is a must.

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1. Do Local Real Estate Pricing Research

The first step is you need to understand that everything in real estate prices is local. You can do this job by searching home values around your local area.

Generally, houses with a garage are going to sell for a higher price rather than houses without detached garages. The price of the property will be based on the location of your house, the value of the home, the size, style, and design of the home, and the detached garage.

2. A Detached Garage Allows for Additional Home Designs

Generally, a detached garage allows for having a wraparound porch in our home. You can not have a design like this when you have got a garage attached to the house. All types of creating opportunities and those designs can increase home values in later times.

One wall of the garage is connected to the house, and sometimes another exterior wall to design on both the detached garage and house is done respectively. Here, windows and doors, a deck, a patio, or a porch are allowed. All these features add home value.

3. Detached Garage Can Add Storage and Living Space

To determine the value of a home, the most common way is multiplying the average price per square foot homes sell for in the immediate area by the square footage of your living space. After that, you add amenities like a finished basement, detached garage, pool, central air, etc.

The average value of similar types of homes is based on some factors like the condition & age of the property. The average value of similar homes per square foot is above or below the market average price.

If you add a detached garage, then you are indirectly adding square footage to the property, and that additional space is adding some significant value to the property.

When a garage is not installed in the home, then adding a garage should be a good idea. A house without a garage has a market value lower than normal ones. You can also compare this with your local realtor.

The one thing you should remember that do not build the biggest and best house because it will create some serious problems at the time of resale.

4. Increased Appeal to Potential Buyers.

The potential buyers will attract more with those homes which have more amenities and are more appealing. So many numbers of people will be attracted to that home, and the price will generally go upward. So, this is the general supply and demand process.

By adding a detached garage to your property, you are generally increasing the storage space of the home. Some detached garages include other working facilities like offices, gyms, and workshops.

5. Transforming the Existing Attached Garage

Sometimes we have seen that some homeowners configure their attached garage into living space. Configuring a garage room into a bedroom, living room, kitchen, gym, or home office is very common.

It is a type of renovation structure, that’s why it is very cheaper and easy to add partition rooms to the garage, but adding rooms in the garage can cause a loss of garage space.

You can add all the additional rooms to the old garage area and not have to spend any extra space. At the time of remodeling, you lost some garage space, but the detached garage can provide all the storage space.

You can add actual living space because those are required less amount of money to build. The detached garage can add so many benefits, including your finances, and increase the resale value of your home.

6. A Detached Garage Apartment Adds Home Value

The price of living space is different than other features which are going to consider an amenity. As an example, when the home will sell for the price of $200 per sq. ft., then the garage space may only raise the value by $100.

The living space value will be, and the price of the garage area will be cheaper. The main reason buyers like an apartment are its flexibility, like a guest house, and celebration purposes.

7. Detached Garage Home Appraisals

You always want a higher appraisal value as much as possible when you are going to refinance a mortgage or sell your house. Generally, the property and real estate market are high.

Generally, a garage adds some extra value to the home; that’s why everyone has been trying to build these in recent days. Especially as you rise in property values.

A detached garage can immediately increase the value of your home if the local real estate market is just adjacent, and it increases the appraisal.

8. How Detached Garage Appraisals Work?

When an Appraiser Is Looking to Figure Out the Value of Your Home, They Consider Some Factors; Those Are in the Following Below:

  • At first, he prices similar homes which are situated in nearby areas and mark them with an average cost per sq. ft.
  • Secondly, the features of those homes and the effect on the sales price according to them. For example, the determination of a detached garage is based on the comps.
  • Thirdly, a desirable neighborhood for your home.
  • Next, they need to analyze the style of your home, design, condition, and size.
  • A greater number of buyers are attracted by a detached garages. Your garage will increase your home’s current market value day by day.
  • Generally, adding a detached garage will add some extra value to your home, and it regains the garage construction cost. But, it will vary from house to house.

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How Much Value Does a Detached Garage Add to the Property Value?

How Much Value Does a Detached Garage Add to the Property Value

It is a very difficult question to answer because it is situational and varies from time to time. Generally, an expensive garage is perfectly fitted with an expensive home.

According to the house, you should modify the garage’s design, style, size, and level of finish to the home. All of these will increase the market prices and balance out the whole situation.

The price of a detached garage per square foot is nearly 1/4 to 1/2 of the overall house. For a simple example, if you owned a house of $200 per sq. ft. value and you also expect to add some extra amounts of $50 to $100 per sq. ft. at the garage space.

It totally depends on the amenities which have to be included in the garage. Another major factor you need to be noted that the home already has an existing garage or not. If the house already has an existing garage, then a detached garage will not add much value to the home.

If you have a small house, then a small single-car garage is enough for parking purposes, and if you have a large house like a mansion, then you need to construct a bigger detached garage of 4 car design.

Frequently Asked Question(FAQ):

Does a Detached Garage Add Value?

Much like an attached garage, a detached garage contributes to your home’s value since it adds usable square footage.

Is Adding a Garage a Good Investment?

Whenever you’re remodeling or building, it’s natural to consider the return on your investment (ROI). Adding a detached garage is no different. According to Remodeling Magazine, a detached garage typically recoups 63% of your investment, on average.

How Much Does a Detached Garage Cost?

The cost to build a detached garage can range from $40–$70 per square foot, or an average of $28,000, according to The Spruce. This, however, depends on materials, labor, and customizations. Fortunately, there are many benefits to having a detached garage over an attached one or a garage alternative.

How Much Does It Cost to Build a Detached Garage?

The national average cost to build a garage is $24,000. Garage costs depend on its siding material, foundation and finishes, like electricity and garage door style. A single-car, detached garage kit starts at around $7,250 while an attached three-car garage with a loft can cost $50,000.

How Much to Tear Down a Detached Garage?

Typically, a garage demolition can cost anywhere from $2,000 to $10,000, but the average price is about $6,000. Factors to this price include whether the garage is attached to the home, how large the garage is, and the material of the garage.

How Much to Build a Detached 2 Car Garage?

Two-Car. A standard two-car detached garage is 20×20, with costs ranging from $16,000 to $28,000.

Attached Vs Detached Garage Resale Value

An attached garage can increase a home’s resale value by $20,000 to $35,000. Attached garage homes are also often a requirement of buyers looking to purchase a resale home.

Appraised Value of 3 Car Garage

In general, a garage of any kind adds between $15,000 to $40,000 to a property’s value, with a three car garage adding $50,000 more to the property value than a two car garage.

How Much Value Does a 2 Car Garage Add to a House?

Typically, the ROI of a garage addition is sixty-four to eighty-one percent, adding an estimated $20,000 to $35,000 to your home’s value.

Attached Vs Detached Garage

Detached vs. Attached Garages. Just as the name suggests, an attached garage is one that is connected to your home, sharing one wall and featuring direct access into the house. A detached garage is one that is free standing and completely separate from your home, whether a few feet or several yards away.

How Much Is a Garage Worth in an Appraisal?

A “functionally adequate” garage in a typical market might add $5,000 to $25,000 worth of value, Mike Ford, a Southern California-based general certified real estate appraiser since 1986. In high-end markets, the value might be higher.

How Much Does a Detached Garage Add to Property Value?

Detached garage’s typically value at around 1/4 to 1/2 of the home’s price per square foot. For example, if you have a house valued at $200 per sq. ft. you can expect to add an additional $50 to $100 per sq.

How Much Value Does a 3 Car Garage Add to Your Home?

In general, a garage of any kind adds between $15,000 to $40,000 to a property’s value, with a three car garage adding $50,000 more to the property value than a two car garage.

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