People who own a home love to do improvement projects to beautify and make a home more enjoyable. While many things a homeowner does to invest in a home can be considered to increase the value of a home, many other things are considered for personal enjoyment. There is a threshold of what is considered a home improvement, and what is considered home decorating or a home enjoyment project.
A home improvement is something that improves the value, functionality, convenience, aesthetics and or living space of a home. A home improvement project is a worthy investment for more than what it gives the homeowner in the present moment. A home improvement project is also an investment that increases the value of the home.
By contrast, a home décor, home enjoyment or home decorating project may improve something of value to the particular family or person who owns the home, but it may have little value to a potential buyer and is not considered by real estate value standards to be of importance.
Home improvement projects such as building garages, additions and renovations of kitchens and bathrooms are usually positive value investments as well as an enjoyment to the owner. One of the more popular additions for many homeowners is getting a new garage. This is an important investment because it can offer many benefits to a homeowner, whether they build one from scratch or buy a prefab garage.
What Are The Main Benefits To Building A Garage?
Building a garage addition is considered an added convenience to a homeowner because it protects them from inclement weather elements. It is also considered a safety addition because it offers a safe place to put vehicles with added protection against theft. Building a garage also affords a homeowner greater storage area than for just vehicles. Most homeowners also store: yard and landscaping equipment, home improvement supplies, sports equipment and other family storage needs in a garage.
Additionally, a newly built garage will also improve the aesthetics of a home significantly. Having a well-built garage improves what is known as “curbside appeal”. That means that the home looks more attractive for potential buyers if it were to be sold.
But there is another significant financial benefit to building a garage. With the addition of a new garage, homeowners usually can be assured that the money they invested in the new garage will be realized in equal value of home equity. This means that if a garage costs $12,000 to build, the likelihood is that the value of the home will increase at least three quarters of that amount. In some cases, it will work out to an even investment to value ratio and in other cases it can increase the value of the home more than the investment.
This can be the case when people buy a prefab garage. Because they are prefabricated, they cost less than a traditional on-site construction which can save a homeowner a significant amount of money. If the quality of the materials and construction of prefabricated garage is comparable to an on-site built garage than the homeowner will usually see an appreciable value difference in buying a prefab or prebuilt garage.