Did you know homes with garages in Phoenix sell for an average of $21,487 more? This shows how much a garage can boost your home’s value. Also, 89.1% of homes in Phoenix have garages, making them a highly sought-after feature.
Garages provide practical benefits like extra storage and protection. It’s no surprise that they increase a home’s value and are a top choice for buyers.
Key Takeaways
- Homes with garages in Phoenix sell for an average premium of $21,487.
- 89.1% of homes sold in the Phoenix area include garages.
- Garages offer practical benefits such as storage and protection.
- The presence of a garage significantly impacts home valuation positively.
- Many homebuyers consider a garage a must-have feature when purchasing a home.
The Impact of Garages on Home Value in Phoenix
Homes in Phoenix with garages see a big jump in value. On average, they sell for about 10.7% more, which is around $21,487 extra. This shows how much people in Phoenix value the practical benefits of garages in the hot, dry climate.
Garage Premium Statistics in Phoenix
Garages have a big effect on home appraisals. Adding a garage can increase a home’s value by $20,000 to $35,000. In Phoenix, garages make homes more valuable and desirable.
- The average ROI for a garage door replacement in the U.S. was 93.3% in 2022.
- Two-car garages generally offer higher ROIs compared to one-car garages.
- Attached garages, which are cheaper to build and maintain, remain the most popular style in American homes.
Garages add more than just storage. They can turn into living spaces, adding square footage and bedrooms. This boosts both appraised values and market appeal. In Phoenix, garages with smart designs, like attic conversions or built-in workspaces, attract buyers looking for versatile homes.
Modern garage doors also save on energy costs. They help keep homes warm in winter, making them more appealing and valuable.
In competitive markets like Phoenix, where homes cost an average of $604,711, garages are key to high property value. The appraisal of a home with a garage shows its practical use and strong market position.
Does a garage add value to a home in Phoenix?
In Phoenix’s real estate market, adding a garage is a smart choice. It makes your home more appealing to buyers. A garage brings many benefits that boost your home’s value.
Research and sales data show garages increase home value by $21,487 on average. This is an 11% boost over homes without garages. So, the answer to “does a garage add value to a home in Phoenix?” is a clear yes.
Garages offer safe parking and extra storage. They can also serve multiple purposes. These features attract buyers, leading to higher prices. Last year, 89% of Phoenix homes sold had a garage, showing strong demand.
In short, adding a garage in Phoenix significantly increases your home’s value. If you want to enhance your property’s appeal and value, a garage is a wise investment in the competitive Phoenix market.
Why Buyers Value Garages
In the Phoenix real estate market, garages add a lot of value. Buyers see the many benefits a garage offers. These benefits are clear in the home appraisal with garage figures.
Protection and Convenience
Garages protect vehicles from theft and weather damage. In Phoenix, the heat can harm cars, making a garage essential. It also offers easy access to your car without getting wet.
This feature makes garages very appealing. It shows how important garages are in Phoenix real estate.
Flex Space Usage
Garages are not just for cars in Phoenix. They can be gyms, workshops, or extra living spaces. With more people wanting flexible homes, garages are in high demand.
This demand boosts the value of homes with garages. It shows how valuable garages are for home value.
Conclusion
Understanding if a garage adds value to a home in Phoenix is key for homeowners. Garages are more than just storage; they greatly increase a home’s value. They offer convenience, security, and even extra living space. Garages can also come with windows too, further increasing the value of your home.
Statistics show garages boost a home’s resale value and selling speed. They are seen as valuable in the real estate world. Upgrades like energy-efficient doors or extra uses can really up a home’s value.
Thinking about adding a garage? It’s a smart move. Costs range from $5,000 to $15,000, but the return is worth it. Phoenix sees an average ROI of 70-80%.
Improvements like insulation, electrical upgrades, and durable floors make a home more attractive. In short, investing in a garage can greatly increase a home’s appeal and value in Phoenix.
FAQ
Does a garage add value to a home in Phoenix?
Yes, homes with garages in Phoenix sell for about ,487 more. This shows a big increase in property value.
What is the average sale price increase for homes with garages in Phoenix?
Homes with garages in Phoenix sell for 10.7% more than those without. This means an average increase of ,487.
How prevalent are garages in the Phoenix housing market?
About 89.1% of homes sold in Phoenix have garages. This makes garages very common and valuable to buyers.
Why are garages considered valuable in Phoenix’s climate?
Garages protect vehicles from theft and weather damage. This is very important in Phoenix, where high temperatures and theft are common.
What additional uses do garages offer beyond vehicle storage?
Garages can be used as gyms, workshops, or extra living spaces. This flexibility is very appealing, now that people want more flexible living options.
How does the “garage premium” in Phoenix compare to other U.S. metro areas?
Phoenix has a notable “garage premium” compared to other major U.S. cities. Phoenix stands out for its significant increase in home value for properties with garages.
Is adding a garage to a home in Phoenix a good investment?
Yes, adding a garage is a smart investment in Phoenix. It increases home value and appeal by protecting vehicles, providing extra storage, and being versatile.
How do garages impact home appraisal in Phoenix?
Garages can greatly improve home appraisal in Phoenix. They add value due to their practical benefits and versatility, making homes more attractive to buyers.
What are the property value trends related to garages in Phoenix?
Homes with garages in Phoenix often sell for higher prices. This shows that garages are both practical and desirable in the area.
This post first appeared on https://triplebgaragedoors.com/