Garage Renovations can Increase Property Value
When you want to sell and move house, converting a space like the garage can make all the difference in the value and perceived value of your home.
Making changes in your home can be refreshing and functional, and if you’ve ever looked around your home and wondered if you should make some changes, you should keep in mind that renovations can also increase the value of your home. Even an innocuous space like your garage can make for a wonderful renovation or a conversion that improves your home’s value. When redoing a space, the primary thought is usually how you exist within your space instead of the resale value, as it will be years from now when that return will happen. It may be worth considering the daily benefits you’ll get from a garage makeover until that time arrives, and your long-term plans should also factor into how you plan your garage makeover.
Renovations and conversions can be costly affairs, but the return can be much more if the work is done professionally and logically, in a way that makes the space much more usable, safe, and sleek. Upgrades play a huge role in increasing the resale value of your home, especially if done right. Keep in mind that while this is enticing, it is important to get an architect and properly accredited contractor, as well as submit the plans for approval from the city council.
There are many things that you can do within the space to keep it as an existing garage but also to convert your garage into another usable room or rooms that double up as either living space, working space, or even entertainment. “While South Africans are concerned about safety for our cars, our garages need not be dead space,” says Sandy Walsh, Managing Director of PropertyCoZa. “You can have the best of both worlds by either extending your space or transforming your existing garage into something magical and increase the value of your property for when the time comes for you to sell,” she adds.
People sometimes underestimate just what a home renovation can do in terms of adding value to their home. Resale value can be greatly increased by home upgrades and can be a huge factor in being able to increase the asking price of your home come negotiation time. You may not even want to sell your home right now and, even if you’re not there yet, it’s something to consider when deciding to renovate. Contacting your local real estate agent and a contractor you trust will ensure you’re guided in the right direction. And often an underutilised space is the garage, which can be upgraded or converted for maximum usage, style, and value to the space in which you spend so much time – your home.
You can go the extra mile and invite an interior designer over to check out your home. Even small suggested improvements can go a long way toward improving the look and feel of your home and upping the value by making it more appealing to a prospective buyer. “Clever, fresh, changes can alter the way someone looks at your home,” says Walsh. “A garage conversion may not even have to be huge or expensive, and creating an unexpected space may make all the difference when someone comes to see it on viewing day.” When a potential buyer has decided on the home they want, it’s easy to ascertain how much more they are willing to pay over time for similar renovations.
So, what can you do to update your garage space? Here are some ideas to turn your garage into the best space for you while increasing the value of your home:
1. Make a workspace
Aside from your cars, the garage can be used for many things, including making it a space where you can do the woodwork, home DIY projects, and all the messy things you can’t really take into the house. Adding a workbench and a dedicated space for the tools of your trade is ideal for garage spaces that need a higher degree of functionality. Whether it’s for woodwork, crafting, or even electronic tinkering, Home improvement will add value to otherwise dead space.
2. Add storage
Making the most out of your available space by creating smart storage areas make your garage look tidy and able to store more items that may not necessarily fit inside the house. There’s always increased value and interest in a home on sale if there’s more storage space. Getting items up off the floor makes great use of otherwise wasted space and keeps everyone safe by not having clutter all over the ground. Your storage, if nicely finished, can also look great and doesn’t have to be your typical scruffy old garage look.
Gone are the days of oil-stained concrete flooring when you could keep your garage spic and span by installing easy-to-clean screed that looks so much better. Not to mention, higher quality materials last longer and hold up better, retaining value when they don’t have to be replaced as quickly as other materials. Home improvements such as this also save you money in the long run.
4. Let some light in
Usually garages are grey, drab areas with very little light. Installing a skylight can be a great way to let some natural light in during the day without compromising on safety for your cars and light-coloured walls can also brighten up the area and make it seem larger. Artificial lighting can be used cleverly to make a great workspace and can increase the value of your home due to the space factor and increased security.
5. Increase your security and safety
Buyers always look for safety so features such as access control, automation, CCTV, and solid reinforcements will impress them. While all upgrades and improvements work in your favour as things a buyer won’t need to undertake, home security is at the forefront of people’s minds when choosing their new home. Insurance premiums also go down with security so that’s a plus!
6. Fancy yet functional doors
It may seem innocuous, but a garage door that is stylish and fits the home aesthetic can increase the value of the house, and the increased security for the house and your vehicles will be appealing. Especially if you have sensors to protect your automated doors. This is a small yet significant detail that will give your home the edge when you wish to sell.
So how to move forward?
If a large home improvement project is overwhelming, you can indeed focus on smaller changes like maybe updating one section at a time or one aspect of the room or space. Your entire garage doesn’t have to be the focus of the renovations. Not everything has to be done all at once. Deciding how you work your own conversion or renovation will ensure that it’s budget-friendly and on your terms and includes home security and larger resale value. Once the space is done, your home will look better and be more usable and eventually kinder on your pocket.
Things you will need:
- Copy of your title deed, which can be obtained from the Deeds Office
- Copy of the surveyor-general diagram for your property, which can be downloaded for free.
- Zoning details for your property, which can be obtained from the municipality.
- Copies of any previously approved building plans held by the municipality (or if you do not have copies of the existing plan, a separate application has to be submitted to request copies).