Why A Detached Garage Can Drastically Improve Your Resale Price

Dated: 08/06/2014

Views: 872

Before you make a major structural change to your property, it is important to consider how this will affect your resale value. While there are many steps that you can take to improve your property, the addition of a detached garage may be beneficial to you and may drastically improve your resale price when you are ready to sell.You should always first obtain customized information about how the addition of a detached garage may affect your property’s value.

Adding Square Footage to Your Home. As a property owner, you may be well aware that one of the most common ways the value of your property is determined is by the market rate for price per square foot of homes in the area. While factors such as age of the property, condition of the property and amenities in the neighborhood may affect whether your property’s price per square foot is above or below market average, the size of the improvements has a direct impact on property value. Adding a detached garage adds square footage to the property, and a real estate agent can help you to determine the true financial gain you may experience through this addition.
Increasing Appeal to Potential Buyers: Properties that are more appealing to potential buyers may sell for a higher price. When you add a detached garage to your property, you may be adding style and function to the property by adding a place to park vehicles and to store items like seasonal items and lawn equipment. You can also create a detached garage with a workshop or another functional area for added appeal.
Transforming Existing Space: Some home additions will add a detached garage to a property because a garage was never constructed on the property, but others will be added because the homeowner wants to transform the existing garage attached to the home into a more functional area. For example, a new home addition, may turn the existing garage into a living room, a bedroom or another functional area. With the addition of a detached garage, the property owner can retain the benefits of having a garage while also improving the functional use of the main area of the home. 
Adding Square Footage to Your Home. As a property owner, you may be well aware that one of the most common ways the value of your property is determined is by the market rate for price per square foot of homes in the area. While factors such as age of the property, condition of the property and amenities in the neighborhood may affect whether your property’s price per square foot is above or below market average, the size of the improvements has a direct impact on property value. Adding a detached garage adds square footage to the property, and a real estate agent can help you to determine the true financial gain you may experience through this addition.
Increasing Appeal to Potential Buyers: Properties that are more appealing to potential buyers may sell for a higher price. When you add a detached garage to your property, you may be adding style and function to the property by adding a place to park vehicles and to store items like seasonal items and lawn equipment. You can also create a detached garage with a workshop or another functional area for added appeal.
Transforming Existing Space: Some home additions will add a detached garage to a property because a garage was never constructed on the property, but others will be added because the homeowner wants to transform the existing garage attached to the home into a more functional area. For example, a new home addition, may turn the existing garage into a living room, a bedroom or another functional area. With the addition of a detached garage, the property owner can retain the benefits of having a garage while also improving the functional use of the main area of the home. The addition of a detached garage can benefit you and your family in a number of ways, and it can also improve the resale value of your home.

Posted on Behalf of Tommy Bearint with Waterstone Mortgage.  Contact Tommy at 813-786-1941 or tbearint@waterstonemortgage.com for more details, or apply online at www.MortgagesByTommy.com.

Want to Advertise on this Site?

Latest Blog Posts

Equestrian Home For Sale In Lithia FL 33547

Check out this amazing EQUESTRIAN home for sale in Lithia FL 33547. Home is available with 18 to 40 acres.  This AMAZING ESTATE located near FishHawk Ranch has its

Read More

Beach Park Luxury Home For Sale In South Tampa 33609

Be sure to view the amazing 3D VIRTUAL FLOOR PLAN on this Impressive Estate in Beach Park in one of South Tampa's most desirable communities. This expansive 4,379 square foot home

Read More

Tampa Bay A Boaters Dream

The Tampa Bay area is a haven for fisherman and draws outdoor enthusiasts from all over the world. Tampa Bay is the largest estuary in Florida with 400 square miles of flats and mangroves teeming

Read More

Home For Sale In FishHawk Ranch

Check out this great 2005 4 bedroom 2 bath home for sale in FishHawk Ranch for only $247,000, one of the most desirable communities in Tampa Bay!! This Lithia FL home is located on a CUL-

Read More