A detached garage can be a significant feature in a property, providing extra storage, living space, and even income potential. However, it’s not always a guaranteed value-boosting asset. The impact of a detached garage on your home’s value depends on several factors, such as the size of the property, the neighbourhood’s aesthetic standards, and the garage’s condition.
In this blog, we’ll explore how a detached garage can either add or reduce the value of your home and provide some helpful tips on making the most of this space.
Let’s get straight to the point.
A detached garage can enhance or reduce your home’s value, depending on factors like property size, neighbourhood aesthetic, and the garage’s condition. If your lot is small, adding a garage might make the space feel cramped, which could lower the appeal. It’s also essential to ensure the garage fits local architectural styles and is well-maintained, as a poorly kept garage can be seen as a liability.
However, a detached garage can add significant value, offering buyers extra storage, workspace, or a rental apartment. This flexibility is particularly appealing in areas where space is at a premium. To maximise value, ensure the garage is appropriately sized and matches your home’s design, and consider adding a loft or apartment for rental income. Consulting with a real estate professional can also help ensure the garage investment boosts your home’s value.
How A Detached Garage Adds Value To Your Home?
On the other hand, a well-designed and well-maintained detached garage can be a great asset. It can serve multiple purposes, from extra storage space to potential living quarters, making it appealing to various buyers. Here are some ways a detached garage can add value to your property.
1. Benefits To Potential Buyers
A detached garage offers several advantages to buyers, especially those looking for additional storage or workspace. The flexibility it offers, from parking to storage to the possibility of adding a living space, can be a big selling point. Buyers who need a workshop or a place to store vehicles are often willing to pay more for a home with a detached garage.
Key Benefits For Buyers:
- Extra room for vehicles, equipment, and belongings.
- Flexibility to use the space as a workshop, office, or studio.
- A separate structure adds versatility to the property.
2. Detached Garage For Extra Storage Or Living Space
As more homeowners transform their attached garages into living spaces, the need for extra storage is growing. A detached garage provides the perfect solution, offering a separate structure that can be used for parking, storage, or even as an additional living area.
Whether it’s used for storage, a home office, or a studio apartment, this type of garage can significantly increase the appeal of your property.
Advantages Of Detached Garages For Storage And Living:
- It can be transformed into a home office, workshop, or guest accommodation.
- Allows the main home to maintain living space without compromising on storage.
3. Detached Garage Apartments: A New Revenue Stream
One of the most attractive aspects of a detached garage is the potential to add a loft or apartment above it. This additional living space can serve multiple purposes, from a guest suite to a rental unit, providing homeowners an extra income stream.
A detached garage apartment with limited space in urban and suburban areas can significantly boost property value and attract buyers looking for rental income opportunities.
Benefits Of Detached Garage Apartments:
- Rental income potential from a self-contained unit.
- Ideal for multi-generational living or hosting long-term guests.
- Highly sought after in areas with limited space or high demand for rentals.
How Does A Detached Garage Reduce The Value Of A Home?
While many homeowners believe that adding a detached garage is a surefire way to increase property value, this is only sometimes true. In fact, in some situations, a detached garage may reduce the value of a home. Below are a few factors that could negatively impact the perceived value of your property if you plan to add a detached garage.
1. Lot Size Considerations
One of the first things to consider when planning a detached garage is the size of your property. If your lot is small, adding a detached garage may make the land feel overcrowded. A cramped, overly built-up yard can deter buyers from wanting outdoor space for gardens, kids, or pets. Squeezing in a detached structure on a smaller lot can give the home a cluttered feel, turning off potential buyers.
Key Points For Small Lots:
- Maximising outdoor space is crucial for small properties.
- Overbuilding can make your yard feel less functional.
- Buyers may value outdoor space more than a garage in compact areas.
2. Neighbourhood Aesthetics
Another crucial factor is the neighbourhood’s overall appearance and design. A detached garage might clash with the community’s overall style in some areas, particularly those with strict design guidelines or homeowners’ associations.
For instance, if your neighbourhood is full of modern or historic homes, adding a detached garage that doesn’t fit the local aesthetic could be detrimental. This mismatch could affect how buyers perceive the property and reduce its appeal.
Neighbourhood Considerations:
- HOA restrictions may limit your ability to build a detached garage.
- Design mismatches can negatively impact curb appeal.
- Always ensure that any new structure complements the style of your home and neighbourhood.
3. Garage Condition
Even if you have a detached garage, its condition is paramount. A poorly maintained or outdated garage can detract from your home’s overall value.
Buyers are often cautious about structures that need significant repairs, viewing them as future headaches rather than assets. If your detached garage is in disrepair, it may be worth investing in renovations before putting your home on the market.
How Garage Condition Impacts Value:
- Well-maintained garages add to the home’s appeal.
- Poorly kept garages can be seen as a liability.
- Consider necessary renovations to make the garage a selling point.
Tips For Maximising The Value Of A Detached Garage
Key considerations must be remembered during the planning and building to ensure your detached garage adds value to your home. Below are some tips to help you make the most of your detached garage.
Don’t Overbuild
A common mistake is building a large garage for the property or home. For example, adding a four-car garage to a small, two-bedroom house could overwhelm the property and make it look unbalanced. Instead, aim for a garage that fits the scale of the home and lot.
Smart Sizing Tips:
- Keep the garage size proportional to the home and property.
- Avoid creating a structure that overshadows the house or outdoor space.
Keep It Consistent
The design of your detached garage should complement the style of your home. Using similar materials, colours, and architectural elements will create a cohesive look that enhances your property’s overall appeal. A well-designed garage can elevate the aesthetic of your home, while a mismatched one may do the opposite.
Design Consistency Tips:
- Match the materials and colours of the garage to your home.
- Ensure the architectural style complements your house.
- A unified design creates a more attractive and valuable property.
Work With A Real Estate Professional
Before you begin construction, consulting a real estate professional is always a good idea. They can provide valuable insights into how much value a detached garage might add to your specific location. Their local market knowledge can help you make informed decisions that align with buyer preferences in your area.
Realtor Insights:
- Consult a realtor for advice on property value in your area.
- Realtors can help ensure your investment in a detached garage pays off.
Conclusion
A detached garage can be a significant asset, offering extra storage, flexible living space, and rental income. However, it’s essential to consider the size of your lot, your neighbourhood’s aesthetic, and the garage’s condition. By keeping these factors in mind and following tips like keeping the design consistent and consulting with real estate professionals, you can ensure your detached garage adds value to your home and attracts the right buyers.
Whether you’re looking to build a new detached garage or renovate an existing one, planning and executing the project properly will help you maximise its value and make your home more attractive to buyers.
FAQs About Garage Renovation
Is It Better to Have a Detached Garage?
If your lot is long and narrow, a detached garage may be a better option than an attached one because this structure can be built behind the house to make the most of the available space. Carbon monoxide fumes won’t be able to enter your home through the garage entry door if you have one of these garages, so the overall safety of your home will be increased.
Is a House Worth More With a Garage?
It is essential to consider ways to increase the value of your home, regardless of whether you plan on selling it soon. According to some studies, adding a garage can increase the value of a home by as much as five percentage points.
Why Do Old Houses Have Detached Garages?
In later years, when automobiles became more widespread, carriage houses like these were eventually supplanted by garages. Because of the potential for gasoline explosions, garages are almost always located separately from the rest of the house (gas was stored in the garage, as gas stations were yet to be invented).
Why Are Detached Garages Popular?
You do not need to give any thought to details such as the best way to connect the electrical system to the structure that is already in place. A detached garage also provides more opportunities for the design of the house. You are free to create the garage of your dreams because you do not need to consider the presence of any other buildings.
Is Adding a Garage a Good Investment?
The return on investment (ROI) for constructing a new garage is approximately 64.8 percent, as indicated by the data provided by Remodeling magazine. When it comes to improvements that you can make to your house, this return on investment is among the best you’ll find anywhere.
