Get matched with top pole barn builders in Dover, AR

It’s better to build a garage than buy and install a prefabricated one. You can save money by purchasing a prefabricated metal garage kit for between $4,000 and $11,000. However, this does not include the price of labor and permits, which can account for more than half of the project cost. Building a new garage over buying a prefab garage will add more value to your home and will last longer, so it’s more cost-effective over time to build a new garage.

Yes, there are a few different ways you can finance new construction. Some lenders offer new construction loans that cover the building costs and then convert to a standard mortgage once construction is complete. Some custom homebuilders also offer financing options that only require a down payment before you begin the building process. Construction loans are possible, as well, although they typically only cover the building process, and you’ll need to pay in full once the house is completed.

Due to space restrictions, some homeowners choose to build an above-garage extension. This second-floor area can be used for storage or living space, but it’s more involved than your standard garage extension project. For example, you might need to pay for foundational or structural reinforcement if your current garage can’t handle the extra load. Expect to pay $25,000 to $100,000 to add a room above the garage. 

While the primary purpose of a garage may be to create a secure, weatherproof space to park your vehicles, there are other reasons to consider building one. A garage can increase your home’s value, for one thing.

Having a garage also gives you a bit of extra storage and possibly living space. You can build a two-story garage and use the upper area as a rec room or lounge space. If you finish the second floor of the garage, you may even be able to rent it out.