Does a Finished Garage add Value to your House?

A Story by Stacy Barton | Updated 10/23/2019 5:49am


Just what exactly defines a "finished"  garage?

A finished garage doesn't have open and exposed beams, it's drywalled, and in some cases the walls are textured and painted.  Some people think 'finished' means it's finished to a livable condition, which would be  good enough to be used as a spare bedroom or bonus room.  However, that is more commonly referred to as a converted garage.

So does a finished or converted garages affect the value of your home?

Converting your garage (meaning, you are taking out the garage door) to add additional space may seem like a good idea, but removing your garage could make it harder to sell.  In some cases, some owners have had to convert it back to a functional garage in order to sell their home, or else withstand longer times on the market.  Finishing a garage certainly won't hurt a home's value, but it likely won't increase the value.  It's subjective, meaning that a finished garage could be exactly what the buyer is looking for, causing your home to stand out among the others for sale, or it could be just a 'nice to have' with the buyer focusing on other aspects of the home as a a main selling point.

What is the cost of finishing my garage?

Finishing your garage could include some cool bells and whistles like resurfacing the floor, and adding built-in storage.  A nice finished garage could cost up to $10.000 or more, depending on how much you add.  Just a clean, organized garage could do the trick.  You could add hangers on the wall for rakes/shovels/brooms/bikes, metal shelves, overhead storage ...you know, things like that.  If you are a garage-organization-loving freak, check out this link to the ultimate in garage organization in San Antonio.  Or, you can take a  trip to Lowe's and get some cool shelving/storage ideas.

You can also consider these additional enhancements for value and/or desirability:

  • A New Garage Door - Insulated garage doors practically pay for themselves.
  • Pivoting Doors - I have to admit, these are cool.  They add something modern to your home, and could cause a buyer to choose your home over another -  just so they can have this door.
  • New fixtures and knobs - new drawer pulls, upgraded faucets and modern lighting fixtures can be inexpensive and can have a big impact on buyers.
  • Reface your cabinets - DIY or spend a little more to get an entirely new look.
  • Paint a neutral palette - Click here to view a video on the 10 best neutral paint colors.  Accent with bright pillows and rugs instead of a bright wall

If you are looking to improve your home while increasing value, consult an area REALTOR® who can help you determine your home's true value by providing a market analysis.  If you are looking to get dollar for dollar what you invest in upgrades, chances are you won't get that.  But an experienced REALTOR® can tell you about the upgrades that truly add to your home's value.  At Phillips & Associates Realty, we have experienced agents who can help you, and they don't mind it if you call just to ask some questions.  :)

 

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