If you rent or sell homes, you naturally want to get the most out of the properties. If your property has a garage, you could increase its value by converting it into a living space.
In this post, we’re sharing some ways you can increase the value of your home by converting your garage or carport:
Conversion of Garages into Additional Living Space
There are different ways to increase the value of your home, but one often overlooked option is to convert your garage into additional living space. This can be a great way to add value to your home, especially if you are in an area where housing prices are high.
What You Need to Consider
There are things to remember if you’re considering this option. First, you’ll need to make sure that your garage or carport is structurally sound. If it’s in good condition, you can move on to the next step.
Next, you’ll need to decide what to use the space for. If you want to add an extra bedroom, you’ll need to ensure that the space is large enough and that there’s adequate ventilation. If you’re looking to add a home office, you’ll need to ensure that there’s enough space for your equipment.
Once you’ve decided what you want to use the space for, you can start planning the conversion. If you’re not experienced in construction, it’s a good idea to hire a contractor to do the work for you. They’ll be able to help you with the design and ensure that the conversion is done properly.
Inspection and Compliance Matter
Once the conversion is complete, you’ll need to get the space inspected by your local building department. They’ll need to ensure that the area meets all the necessary code requirements.
After the inspection is complete, you can start using the space. If you’ve added an extra bedroom, you can begin furnishing it and decorating it to your taste. If you’ve added a home office, you can start setting up your equipment and getting to work.
Addition of Carports
A new carport for your home can increase its curb appeal and resale value while providing much-needed protection for your vehicles. But before you start planning your carport, there are a few things you need to know.
First, you have to determine what type of carport you want. There are two basic types of carports: freestanding and attached. Freestanding carports are not linked to your home and can be placed anywhere on your property. Attached carports are connected to your home and are generally smaller.
You also need to decide what material you want your carport to be made from. The most common materials are metal and wood. Metal carports are more durable and require less maintenance, but they are also more expensive. Wood carports are less costly but not as durable and require more maintenance.
Financial Returns of Converting Your Garage or Adding a Carport
There are a few things to consider regarding the financial returns of converting your garage or adding a carport.
First, you’ll need to consider the cost of the conversion or addition. This will include the cost of materials, labor, and any permits that may be required.
Second, you’ll need to think about the value of your home. If you live in an area where homes are selling for a premium, you can expect a good investment return. However, if you are from a place where home values are stagnant or declining, you might not see as much of a return.
Third, you’ll need to consider how much you’ll use the converted space or carport. If you plan on using it frequently, then you can expect to see a higher return on your investment. However, if you only plan on using it occasionally, you might not see as much return.
Converting your garage or adding a carport can increase the value of your property. This is because it can add extra living space, storage space, or parking space to your home. These are all things that potential buyers will be looking for when considering your home. So, consider adding a carport or converting your garage if you want to make home improvements. It could pay off in the end.
When you’re ready to get a carport on Sunshine Coast, Excelfit is here to get you exactly what you need. Find out more about our services today!