When you’re on a budget or trying to save money, the last thing you probably think about is building an extension. However, although extending your home can be expensive, providing you choose wisely, it could be a worthwhile investment that actually saves you more money in the long run.
One such example of this is a garage. With many benefits for you and your family, here are the reasons that adding a garage could be practical and make a lot of financial sense.
It Adds Value
When it comes to making improvements, you want your home to work for you and your family. This could mean updating the interior to your suit your taste, or reworking the garden to make it a fun, family space. But it’s also a good idea to consider value, too. If done well, redecorating and landscaping could increase the value of your home, but building a garage could, too.
A garage is a common feature on family property wish lists and buyers are willing to pay more to secure this. As such, by adding a garage, you could benefit financially if you decide to sell.
One of the most common reasons families move is the need for extra space. This could be because your family is getting bigger, your children are growing up and require their own bedrooms, or that you need a place to store your tools and tool box. Whatever the reason, building a garage could prevent your family from outgrowing your current home.
In addition, research has shown that moving home costs an average of £10,000, making it a very expensive process. A garage, on the other hand, can cost a lot less – even more so if you are flexible on materials and happy to do some of the labour – making it a good investment.
Provides Further Potential
You may build your garage for extra storage, as an area to carry out your hobbies, or as a space to store your car. Whatever the reason, a garage is a versatile space with a lot of potentials.
Building a garage now could provide further opportunities in the future. This includes generating extra income by renting it out, turning it into an office or workshop for your business, or converting it into another living space.
Adding a garage to your home can offer many benefits, including increasing property value and providing space for your family to grow. It’s also savvy and could save you money further down the line, making it a smart investment.