Yes, adding a garage to your home in Minnesota will increase the value of your home. Some estimates place the return on investment for a garage addition at 64-81%, potentially adding $20,000 to $30,000 onto your homes value. However, the actual increase in home value depends on the type of garage, complexity and potential for additional living space.
For example, one renovation expert in the twin cities area of Minneapolis claims that by adding a livable space above her garage she will increase the potential resale value of her home by upwards of $100,000.
To figure out the exact cost and potential value of adding a garage to your home in Minnesota, reach out to us today. One of our remodeling experts will be able to walk you through every aspect of adding a garage to your home and what you can expect.
Why Does Adding a Garage Increase Home Value In Minnesota?
Adding a garage to your home can potentially increase your home value due to a variety of reasons:
Adding a Garage Provides Climate Protection
Minnesota’s harsh winter climate makes garages particularly valuable. They provide essential protection for vehicles from snow, ice, and extreme cold temperatures, which is highly appealing to homeowners and potential buyers.
Increased Buyer Interest
Homes with garages tend to attract more potential buyers in Minnesota, potentially leading to more offers and higher sale prices.
Substantial Resale Value Boost
While the exact increase varies, adding a garage in Minnesota can significantly impact a home’s resale value. One homeowner estimated that adding a garage and bonus room could increase their home’s potential resale value by $125,000-$175,000.
Versatility
In Minnesota, garages offer much more than just car storage; they serve as valuable flex spaces that significantly enhance their appeal and value. Many homeowners transform their garages into home gyms, creating a convenient and private space for exercise that can be used year-round with proper insulation and flooring.
For DIY enthusiasts and hobbyists, garages make ideal workshops, accommodating activities such as woodworking, crafting, or automotive repair, with customizations like workbenches, tool storage, and ample lighting.
Additionally, garages can be converted into extra living areas, providing space for guest suites, home offices, or recreational rooms, thereby expanding the functional living space of a home.
Regional value impact:
In Chicago, which has a similar climate to Minnesota, a garage adds a 38% premium to a home’s value. Given the similarities in weather conditions, Minnesota homeowners could expect a comparable premium.
What Impacts Garage Value?
Location:
The value added by a garage varies significantly across different regions. For example: In Chicago, a garage adds a 38% premium to home value. This is primarily due to poor weather conditions that can make keeping a car outside untenable.
Climate:
Garages tend to be more valuable in areas with harsh winters or extreme weather, as they provide protection for vehicles.
Type of garage:
Attached garages generally provide a higher return on investment (ROI) compared to detached garages. This is due to the fact that building onto an existing structure or remodeling an existing garage is far less costly than building a whole new structure.
Size:
Larger garages are generally more valuable than smaller ones.
Construction quality:
The materials used and overall build quality significantly impact the value of a garage, influencing both its functionality and aesthetic appeal. High-quality materials, such as durable concrete for flooring, weather-resistant siding, and robust roofing materials, ensure the garage can withstand harsh weather conditions and daily wear and tear. Additionally, well-insulated walls and doors enhance energy efficiency, making the space more comfortable for various uses throughout the year.
Buyer preferences:
According to a 2019 survey, 85% of homebuyers value garage storage. This strong preference underscores the importance of having a well-organized and spacious garage. Homebuyers appreciate the convenience and functionality that garage storage provides, allowing them to keep their homes clutter-free by offering ample space for storing vehicles, tools, sports equipment, seasonal items, and more. A well-designed garage storage system can enhance the overall aesthetic appeal of the home, making it more attractive to potential buyers.
How Do I Add A Garage To My Home?
The easiest way to add a garage to your home is by hiring a professional remodeling company like Stone Hearth Remodeling. We have the team, experience, and tools necessary to make adding a garage to your home both easy and affordable. Our skilled professionals handle every aspect of the project, from initial design and obtaining permits to construction and finishing touches. This ensures that your new garage is built to the highest standards, seamlessly integrating with your existing home.
Attempting to build a garage yourself is often untenable for most people due to the complexity and scope of the work involved. It requires specialized knowledge in areas such as foundation work, framing, electrical wiring, and roofing, not to mention the time and effort needed to coordinate the various stages of construction. By choosing Stonehearth Remodeling, you can avoid the stress and potential pitfalls of a DIY approach, ensuring a smooth and efficient process from start to finish.
Ready to get started with your garage addition in the Minneapolis area? Give us a call today!
Takeaway
Adding a garage to your home is one of the highest return on investment (ROI) additions you can make. This enhancement not only increases your home’s functional space but also significantly boosts its market value. In Minnesota, having a garage is a highly sought-after amenity due to the region’s weather conditions, providing essential protection for vehicles and additional storage space for homeowners.
Investing in a garage addition offers numerous benefits, from safeguarding your car against harsh winter weather to creating a versatile space that can be used as a workshop, gym, or extra storage area. The added convenience and security make your property more attractive to potential buyers, ensuring a strong ROI when it’s time to sell.
If you’re considering a garage addition, speak with Stonehearth Remodeling. Our experienced team can guide you through the entire process, making it easy and affordable. Contact Stonehearth Remodeling today to discuss your next garage addition and discover how we can help you enhance your home’s value and functionality.
