Get matched with top pole barn builders in Augusta, AR

Having a garage installed certainly adds to the value of your home. The consideration is not whether it adds value, but for many, they want to know if adding a garage yields a return on their investment or ROI. While garages can add anywhere from 5% to 20% of the total value of your property, that doesn’t mean that they return 5% to 20% of the money invested in building them. Most homeowners build garages for a purpose but know that you can recover your investment when you sell or refinance.   

Yes, you can finance new construction using a construction loan or a construction-to-permanent loan, or you can use a home equity line of credit or a cash-out refinance if you’re building a second home. Some mortgagors may have restrictions on DIY house builds, so be sure to check that you can get financing before starting your project.

An addition like a garage can increase your home value significantly, but it’s also quite expensive to convert a carport into a garage. In some cases, you may see just a small boost to home value. With that being said, a carport conversion can add value to your experience as a homeowner long before you sell. Garages are useful for security reasons and storing vehicles, plus they can serve as a convenient place for storage and as workspaces or even living spaces.

It depends on a lot of factors, but generally speaking, added living space is more desirable to most buyers, which means an extra room will be more valuable than a traditional garage. The utility of the new space will determine how much ROI you’ll see. An additional bedroom will generally be more valuable than a living room or family room, and converting your garage to a bedroom with a bathroom will likely add the most value.