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Having a garage can increase the value of your home considerably, even if the garage isn't considered living space. Many people own cars and want a secure place to park their vehicles when they are home. 

If you decide to finish your garage and convert it into living space, you may affect your home's value. The livable space may increase your home's square footage, which can help its value. But, giving up the garage space may also negatively affect the sale price of your home.

Garage door insulation can last anywhere from 20 to 100 years depending on the type of insulation. Cellulose has the shortest lifespan coming in at between 20 and 30 years, while spray foam, mineral wool, and fiberglass can last between 80 and 100 years with proper maintenance. 

Humidity plays a role in how long more susceptible insulation materials—like fiberglass—last. Once fiberglass batts reach the 15-year mark, you'll need to routinely inspect your insulation to ensure that it is in mint order.

Garage doors that are not insulated can be a major source of heat loss. That’s why it’s essential to winterize your garage door with insulation and weather stripping to prevent heat loss and keep it warm more easily. Consult a local garage door installer if you need help determining the cause of your garage losing heat.

Whether a garage or an extra room adds more value depends on several factors, including local market demand, location, and typical buyer preferences. Generally, added living space is highly desirable to most buyers, which can make an extra room more valuable than a traditional garage. The return on investment (ROI) often depends on the utility of the new space; for example, an additional bedroom is typically more valuable than a new living room, and converting a garage into a bedroom with an en-suite bathroom will likely add the most value. A well-designed extra room can also serve specific needs, such as a home office, guest room, or entertainment space. However, adding a garage may be more valuable in areas with limited street parking or harsh climates where protecting a vehicle is a priority.