Gone are the days when garages were just some dark and dusty places to keep your cars, unused items, tools, old toys and other clutter. Finished garages, with installed flooring, beautiful lighting, storage, home gyms, workshops or entertainment zones are becoming trendy among homeowners. But is it worth following the trend? Are they actually worth adding to your home? Let’s answer this question in this article of whether hiring garage remodel services for finishing your garage is the right choice for your home.
Key Features of a Finished Garage
What makes a garage finished? A finished garage is a transformed space from the typical dark and dusty car park, to a space with structural and aesthetic upgrades, storage solutions, and functional zones. There are many ideas on how to remodel your garage, but here are some key features to consider.
Structural and Aesthetic Improvements
Flooring
A finished garage’s floor can have a variety of flooring installation on top of what was once a bare concrete floor. Typical modern garage flooring installations include durable coatings like epoxy or polyaspartic. These materials are resistant to stains, cracks, and other signs of wear-and-tear. There are also versatile flooring options like rubber mats, tiles, or polished concrete that are both aesthetic and durable. Some garages even add slip-resistant finishes to enhance safety. Having these coating, flooring, and slip-resistant finishes are good to have for frequently-used garages. You can put vinyl flooring on top of the bare concrete as well, just be sure to choose the right underlayment for your vinyl flooring to match the environmental conditions of the garage.
Lighting
Lighting is a game-changer for for finished garages. Modern fixtures, pendant or recessed, give a welcoming ambiance. Moreover, LED shop lights with adjustable brightness make sure that you’ll have the suitable light for each of your tasks, whether you are using your garage as a wood shop or you are working on your cars. For whatever purpose you use your garage, having a motion-activated lighting system is a great way to enhance energy efficiency and convenience. Imagine carrying a heavy box of tools and lights turns on for you automatically, without the need to flip a switch. If you opt for natural light with windows, be sure to choose the right window type that will suit your needs.
Insulation and Climate Control
Since the garage is no longer a largely disregarded space, a finished garage may now have a climate control system for year-round usability. Finished garages will also be insulated so all that energy you produce keeping the space cool or warm will be contained, giving your home a better energy-efficiency rating. Installing insulation on the garage doors is an even better way to keep your garage energy-efficient.
Storage Solutions
While storage has always been a staple in garages, contemporary finished garages now have well-designed and sometimes advanced storage solutions. A favorite among homeowners are built-in cabinets and shelves. Floating shelves are usually for frequently-used items because they are easily visible and accessible. Overhead storage racks or enclosed modular shelves are perfect for seasonal items. There are also specialized storage for items needing additional support like sporting equipment. For example, biking enthusiasts could install bike hangers or hooks for vertical storage. For small and frequently-used tools, magnetic strips and pegboards make them easily visible and within your reach. Some homeowners prefer modular storage systems and labelled bins to avoid clutter.
Functional Zones
In addition to using the garage to park cars, homeowners are also designating a separate space in their garage for a home workshop, a small gym, entertainment space, and many other purposes. A workshop can be used for woodworking and similar handy tasks and would have dedicated storage, pegboards, and cable management systems for electric tools. A small gym would have simple, but functional exercise equipment and wall-mounted mirrors. Some garages also have an entertainment area with comfortable seating and a television or gaming system,
Financial Impact of a Finished Garage
Surely, all the options available for a finished garage are tempting!. But, is it actually worth it to have a finished garage? Let’s talk about the financial impacts of a finished garage.
Overall Return on Investment (ROI)
According to Curbio, the average ROI for constructing a finished garage is between 64% to 81% depending on the local market and specific features. Some sources even cite an impressive 194% return on investment for this upgrade. It may add around $10,000 to $35,000 to a home’s value. Considering these benefits, finishing your garage could be one of the most promising upgrades that you can do to increase your home's value.
Replacing your Garage Door
Another notable consideration is replacing your garage door. Reports show at least 93.3% to as much as 100% ROI for garage door replacement. That’s the highest return on investment for any upgrade to your garage. Whether you go for a full garage remodel or just minor upgrades, a new garage door should be on your list. Furthermore, making this garage door installation ADA compliant would increase your home's value even more.
ADU Garage Conversion
Converting their garage into accessory dwelling units (ADUs) is gaining popularity among homeowners. Specifically, an ADU is an enclosed space located in the same lot of a home and is often converted from existing spaces such as the garage or basement. Data indicates that garage conversions into ADUs are increasing the home's resale value (20% to 30%). In addition, if the ADU is rented out to long-term tenants or short term like through Airbnb, this additional stream of income is very valuable to homeowners. Although this conversion is promising, just keep in mind the sacrifice: no secured parking at your home.
Houses with a garage are easier to sell. Most potential homebuyers include “garage” in their search. They see the need to have a garage for protecting their vehicles from weather, theft, and vandalism. Hence, houses with a garage also have greater value.
Assessing Market Value: Finished vs Unfinished Garages
Imagine this: You are visiting homes in the neighborhood to potentially buy. You step into a property’s unfinished garage and see exposed beams, uninsulated walls, and bare concrete floors. It's dark, cold, and old.Then, you go to the next house up for sale. It has a finished garage, with a durable floor coating, insulated walls, and a relatively new garage door. It's warm and well-lit with modern fixtures. Even its storage system is impressively organized!
Which one leaves a much better impression on you as a buyer?
Homes with finished garages are more attractive to buyers. Relative to other areas of the home, a finished garage gives the impression of the property being well-maintained, polished and functional.
In upscale neighborhoods, houses typically have finished garages. This goes to show the importance of having a finished garage in maintaining a high-value home.
Things to Consider about a Garage Renovation
Costs
Garage renovations can be expensive. Your expense may range from $5,000 to $20,000 depending on the upgrade you want. You might want to maximize your ROI by sticking to the upgrades that improve not only the aesthetic appeal, but also the energy efficiency of your garage. Some examples are insulated garage doors, LED lights, and modular storage systems.
Space Utilization
Avoid overbuilding and overcrowding your garage space with other functional zones. For example, a garage space with a wood workshop, home gym, and entertainment space can overcrowd the space and make it cramped. You can add one or two functional zones in a finished garage, but make sure that your vehicles will have enough space for parking.
Neighborhood Affluence
While a finished garage is generally attractive to buyers, you should also consider the neighborhood where you're in. Over-improving a garage in a low-value neighborhood may diminish your ROI as potential buyers wouldn’t really have the means to afford a home with that improvement. You wouldn't want your house to be overpriced relative to your neighborhood.
Conclusion
So, to answer the question, is a finished garage worth it? The answer is yes.
A finished garage is a worthwhile investment if you focus on high-impact and cost-effective upgrades like garage doors, storage, lighting and insulation that boost multi-functionality, good space utilization, and energy-efficiency. Are you looking to remodel your garage and add value to your home? Call Lumina Construction at 212-920-9163 today!