About Garage Additions | Garage Addition Investment | HouseLogic

Building a garage addition is a great way to gain comfort, convenience, and storage space. Its also a reasonably good investment. According to Remodeling magazines latest Cost vs. Value Report, a home owner who invests the national average of $48,806 in a freestanding two-car garage addition can expect to recoup about 63,7% of the cost at resale a higher rate of return than an added-on bathroom or sunroom, and on par with a major kitchen remodel.

A garage addition makes especially good economic sense in the Pacific region of the country, where home owners can expect to get back almost 78% of the cost of a midrange project, although garage construction costs are about 20% more than the national average. Returns tend to be lowest in the countrys midsection. In Omaha, for example, the same garage recoups less than half its cost.

As a general rule, youre likely to recover a higher percentage of your investment if you build a relatively basic garage one with open walls, an unfinished concrete floor, and shelves for storage rather than one with interior drywall and trim, an epoxy floor coating, and designer storage solutions. Such an upscale project runs a national average of $80,511 and returns around $44,034, or about 54.7%, of its cost at resale.

But there are financial considerations to adding a garage that go beyond resale value. Protected from the elements, your vehicles will stay in top shape, which could make them more valuable when you sell them. If you include workshop space, youll be able to do many home repairs yourself, saving on the cost of pros. And if you outfit the garage so that its easy to access stored items, you can save leftover materials, reducing the cost of future projects.

National average cost, 26 x 26 ft. midrange garage addition:

Job cost: $48,806 Resale value: $31,091 Cost recoup: 63.7%

National average cost, 26 x 26 ft. upscale garage addition:

Job cost: $80,511 Resale value: $44,034 Cost recoup: 54.7%

Regional info:

New England

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About Garage Additions | Garage Addition Investment | HouseLogic