Everything You Need to Know About Garage Values
This blog breaks down the real numbers behind garage ROI, the psychology of today’s buyers, cost breakdowns, market demand, and which garage upgrades are worth it.
When people think of increasing home value, they often think about kitchen renovations or bathroom upgrades—but one of the most overlooked features is the garage. Whether you’re adding one from scratch or upgrading what you already have, garages are a functional, desirable, and high-return feature that buyers actively look for—especially in places like Colorado Springs.
How Much Value Does a Garage Add?
According to HomeAdvisor, adding a garage can increase your home’s value by $12,750 to $33,200 on average, depending on type and size. Homeowners can typically expect to recoup between 75% and 85% of the cost at resale. However, a simple figure doesn’t tell the whole story.
A garage’s value isn't just monetary—it also increases desirability, which affects how quickly your home sells. A 2019 survey by the National Association of Home Builders reported that 85% of buyers specifically look for garage storage as a key feature in a home. And in colder or mountainous climates like Colorado Springs, the appeal increases. In many cases, buyers may be willing to pay more for a home with a well-maintained garage—or choose your home over others without one.
Breakdown of Garage Construction Costs
The cost of building a garage varies widely based on size, materials, layout, and whether it’s attached or detached. The national average is approximately $28,222, with most projects ranging from $16,450 to $40,260, based on HomeAdvisor data.
Beyond size and layout, other factors influencing price include foundation work, roofing materials, insulation, permits, labor, and whether or not utilities (electricity, HVAC, etc.) are installed.
Return on Investment: What the Numbers Say
While initial construction costs are substantial, garage additions and improvements still offer a strong return—ranging from 64% to 81% ROI depending on materials, size, and market demand.
However, garage upgrades often yield even better results. A garage door replacement, for example, had a 103% return on investment in the 2023 Cost vs. Value Report by Remodeling Magazine—beating out kitchen and bath remodels in terms of ROI. That’s because small, functional upgrades—like a new garage door, better lighting, built-in storage, or epoxy flooring—can dramatically increase appeal without breaking the bank.
What Kind of Garage Features Do Buyers Want?
The value of a garage isn’t just about square footage. Buyers today are focused on function, storage, and versatility.
According to buyer surveys and real estate trends, here are the most desirable garage features:
Ample built-in storage (shelving, wall-mounted racks, and cabinetry)
Workshop areas for tools or hobbies
Mudroom or laundry pass-throughs
Insulated and climate-controlled spaces
Smart garage doors with mobile access
Clean, durable flooring like sealed concrete or epoxy
For homeowners who want to go further, features like electric vehicle charging, LED lighting, and space for gym or recreation equipment can also appeal to specific buyer types.
What Kind of Garage Features Do Buyers Want?
Colorado Springs buyers value garages more than in many other parts of the country. With long winters, hail-prone seasons, and outdoor recreation gear being the norm, garages serve both a practical and protective function.
Homes with garages often:
Sell faster than comparable homes without one
Attract buyers looking to protect their vehicles from snow, wind, and ice
Appeal to military families, outdoor enthusiasts, and growing households
A clean, functional garage in this region is not just a bonus—it’s often expected.
Is Adding a Garage Right for You?
If your home doesn’t currently have a garage and your lot allows for one, it could be one of the best long-term investments you make. Beyond the potential financial return, it also improves everyday function and appeal while living in the home. For those who already have a garage, focusing on updates like storage, lighting, or curb appeal can offer excellent returns at resale. A small renovation project—like replacing the garage door or updating the flooring—can make a large impact. Before you begin, talk to a local real estate expert about what buyers in your neighborhood are looking for, and compare costs with potential ROI. In competitive markets, the right garage could be what sets your home apart.
Thinking of Selling in Colorado Springs?
Whether you're considering building a garage, making strategic improvements, or preparing to list your home, I can help you assess what buyers in Colorado Springs are really looking for—and how to maximize your home's appeal. Schedule a time to chat here for a personalized market analysis and expert insight into what’s worth the investment.
Direct Info:
Tel: 832-392-3188
Email: melissa@myhoneybeehomes.com
