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Don’t Underestimate Your Garage’s Value

By: admin on Aug 20, 2014 in Uncategorized

Don’t Underestimate Your Garage’s Value

If you are like most Americans your largest investment after your home is your car, and like nearly 60 percent of Americans you probably park it outside. According to Forbes the average price of a car in 2014 is just over $30,000. A pricey investment to leave sitting outside all night exposed to the elements.

A recent article from the finance site estimates that the average garage is worth a little over $35,000, a significant portion of the medium national home value of $210,000, which means most Americans use what is the equivalent of 13 percent of their home value to store infrequently accessed items, and not their second most valuable piece of property.  

Homeowners who undervalue their garages and fail to take advantage of a space that increases overall property value will be at a disadvantage when it comes to valuation and resale.

Garages add overall square footage to the property and also provide the all important storage space that is high on the list of most homebuyers today. A simple way to sustain or increase home value and protect the value of a vehicle is to organize the garage.

According to BankRate organizing and improving the space so that it is better utilized adds instant value to a property. While a recent Thompson’s Company study found that potential homebuyers are 91 percent more likely to purchase a home is the garage is in good order.

If disorganization sound like your garage, call and make a complementary design appointment with one of our garage design experts. 

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