WHAT IS MY RETURN ON INVESTMENT IF I ADD A GARAGE
Building a garage or adding an addition to an existing garage will add substantial value to your home. The 2015 “Cost vs Value Report” for the Denver area indicates an average cost of a midrange garage to be $52,394.00 with a recouped value of 62.7% on the sale of the property. These numbers would be less for an addition. An upscale garage, one with interior insulation, drywall finish, and custom storage solutions would be in the range of $85,592.00 with a return of 54.7%.
Some of the added advantages of a garage include protection of your vehicles, a shop area. And added storage alone the walls and in the ceiling.