Will Finishing Your Garage Add to a Home's Value?

As a homeowner, you should always aim to increase your home's value, whether or not you intend to sell it.

A finished garage won't directly impact the value of a property. However, it will add the "wow" factor to the equation, which means higher interest among potential buyers and a shorter time on the market. Even an insulated garage will impress the savvy buyer.

Let's elaborate on what constitutes a finished garage and how it can benefit a property.

What does 'finished' mean?

To understand the appeal of finishing your garage, you should understand the components of a finished garage.

A finished garage shares many of the characteristics of other finished rooms in your home. Finished primarily means no exposed ductwork, studs, beams, or electrical components - unless this is a part of the overall vibe you want to portray. It also means that the garage should reflect the design of the other parts of your house. So, if the rest of the property is drywall, the garage should be drywall as well.

Additionally, a finished garage may require installation of heating, air conditioning, and insulation, depending on where the addition is located. Note: climate control should never be an extension of the home heating and cooling system, as exhaust emissions can waft back into the home from the garage. 

For the floor, you can go with epoxy coating, tile, or even leave out the exposed concrete. However, the floor should be sealed to avoid any spills or leaks and resulting odors.

Lighting is essential, too, because a properly lit room can go a long way in impressing buyers. And having good air circulation in the garage helps, but beware of attaching.

Does a finished garage increase home value?

As mentioned earlier, a finished garage doesn't directly increase the value of a property. But it's all subjective. A finished garage can impress buyers. You may run across a buyer who will greatly appreciate a finished garage, which will impact their decision. On the other hand, some buyers aren't looking at the garage as a significant factor.

A garage that's properly finished is likely to add to a property's overall curb appeal. The curb appeal factor shouldn't be taken lightly.

Does it pay off?

A homeowner should invest in property improvements with the goal of having them pay off in the long run. While it might be debatable how much value it adds, a finished garage will almost certainly not diminish a property's value.

It's worthwhile to keep the numbers in mind. To renovate a typical garage can take an investment of a few thousand dollars, including the paint, drywall, storage options, flooring, lighting, etc.

Storage options take away a large portion of this kind of renovation budget. They can be costly, yet won't be counted as a part of the house during real estate appraisals because appraisals focus on parts of the house, which storage isn't.

Consider leaving added storage space out of the garage renovation equation unless you want or need the storage options.

Will garage renovation do anything for the property value?

A garage renovation is always a good idea if you want to boost a property's curb appeal. However, going overboard with investing in a garage renovation isn't a good investment.

Phoenician Garage Door & Repair offers full-service garage installation, repair and maintenance in Maricopa County. Emergency service available. We are licensed, bonded, and insured. Call (602) 610-0112