I agree with Green, no reason at all you couldn't have both. We actually have a 2 car garage that was or originally built with the home. Vague information may lead others to give you poor advice. Freestanding garages can be a little less uniform if so desired. If you own a home without a garage, you might not know just how much value it can add. Realized losses in the housing market were astronomically higher than the stock market, I would guess it was hundreds of times higher. So how much do we love our trailer? If you plan to add a garage to the existing structure, use a design that matches the rest of the home so that it blends in well. That is so great that you all had the room to that. ‍♀️. They will produce construction documents that will guide the construction process and help you select a builder. The cost to build a garage starts at $7,500, with most garages costing much more. This house is in the suburbs of a major city where 2 car is standard, and 3 would be a bonus. If you own a home without a garage, you might not know just how much value it can add. PLEASE. Use the form below to sign up for our mailing list. We value it a lot. Since most appraisals value property by the square foot, a garage is a positive addition. One reason we upgraded, the price to build the 4 car was less than the value added to the appraisal for the additional bay. When we were considering buying instead of building, we only looked at homes that already had a 3 car garage or had enough room to add one. On the flip side, unlike the interior square footage of your home, it will not necessarily need heating/cooling, windows, or any fancy features. But let's consider this a moment. By the way, neither does a pool, deck, or hot tub, which really hurt when I sold my home. Help with first floor layout & flow, please! And we will soon have a teen driver. This works for us because one car is rarely used, and we don't end up looking like the "garage-mahal" (to quote booksandpages, I found that funny!). We’ll let you know about all of our new content and what we’re up to. Actually getting money from selling your house or investment in the only thing means something to you. AND people actually put their cars in them! So adding a garage may look nice but won't necessarily add to the overall value of the house. How to make 3 car garage w 10 ft door work with 1800 sq ft bungalow? And then of course, we have a teenage driver, so with three cars it is so nice to have the extra driveway space. We keep 3 cars in the garage, and still have room for push lawnmower, a motorcycle, 4 bikes, workbench, tons of tools. It appears to be 3 bay from the front, but the rightmost bay goes back quite a ways. Does it have to be either/or? Most contractors estimate the extra garage space adding on anywhere between $6,000-$10,000 dollars. Let's put this into perspective, if you bought your house in any of the twelve years before the market collapse the realizable sales value of your house was less than you paid. However, if you own a particularly large family car, such as a Ford Mondeo (measured at around 15ft by 6ft or 4.6m x 1.8m), it’s wise to consider building your garage wider. Depending on your budgets, wants, and needs this would have to be evaluated by the individual. If you go with a 2 car I would suggest the 8 ft door over the 7 for both resale and it is an upgrade from the norm. The bays are also wider than standard. This means that if you spend the national average of $48,806 on a midrange 26-by-26-foot two-car garage, this would add about $31,091 to your home’s resale value. Recent research found a garage can add as much as five per cent to the price of a typical home. Many home buyers (myself included) won’t even consider buying a home without a garage. One of the things that will eventually push into a different house is my husband wanting a 4/5/6 bay garage. I so agree, an extra garage is actually where Henry does tons of DIYs! So now you have an entire room in the attic area above the Three Car Garage that can be used to clear out your existing garage, build a game room, a workout room or whatever you are dreaming of. i don't know why really! Real Estate Value and ROI According to Remodeling Magazine's national Cost vs. Value Report 2013, the average return on a basic freestanding garage addition is about 63.7 percent. Many home buyers (myself included) won’t even consider buying a home without a garage. Aside from bumping up the home’s value, a garage will also prove quite useful. This is also a great choice for two cars and a workshop space. And we promise to never send you spam. Regardless of size, you’ll get about 75% to 85% of your investment back when you sell. Added value will depend on where your carport is located on the property, materials used, and the demand for a carport in the area of your home. Around here, 2 car is a must, 3 car is an added bonus. My husband was set on having the garage doors 8x18 so we can back the trailer with the golf cart on it into the garage. The cost of a 3-car detached garage can vary widely, starting at $12,050 for a basic 40x20 prefab 3-car garage and ranging as high as $42,570 for a 60x52 structure that’s 20 feet tall. Assuming you don't have finished space above the garage, the cost difference between 2 and 3 car is not that much - on the other hand, if you ever need extra space and plan to add a detached garage that may cost a lot more - depending on your neighborhood / county requirements. In which case it might have more value as a … Henry and I have been doing this for several years now and have learned a few things along the way. © 2020 Plank and Pillow All Rights Reserved. In 2015, the Real Estate Institute of Victoria reported a price difference of $90,000 to $100,000 between a central Melbourne apartment with a parking space and one without, and noted that inner-city car spots could sell for up to $90,000. 2 car garage is the standard and norm in my area. Carports certainly add value and should be an item you consider for home improvements. (He likes old cars). ". Has anyone ran into a lender that requires 1 million in gross sales? Your house going up and down in value means nothing to you, your investments going up and down in value mean nothing to you. We did look at all the existing houses in the neighborhood in which we wanted to move and they all had three car garages. An appraiser would first look at what is typical garage space in your neighborhood. So again, to answer the question: Is a three car garage worth the extra cost? What about recovery? HELP. And it’s not only a financial issue. 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