Garden Sheds, Carports and Garages May be What You Need to Sell Your Home for Top Dollar.
With the current property market, many people are opting for renovating their homes instead of buying new. While spending money on the home seems to be a poor investment if you plan on selling, it actually increases the value for an old place when it comes to putting it on the market. The better your house looks, the easier it will be to sell.
However a word of advice to those looking to start ‘improving’ your home… first consider what buyers are looking for and then make the appropriate changes to your home. If you give the market what it wants, selling will be much easier!
How can you add value to your home?
There are many ways to renovate your home, such as new paint, new flooring, new bench tops etc. But one thing that is often missed, but is at the top of buyers list, is storage.
Storage is one of the easiest yet often overlooked areas for renovating plans.
Why is storage so important?
Lack of storage is a common issue in house holds today. We are a consumerism society and are buying and keeping a lot more ‘stuff’ than we used to. It’s common to find old homes lacking in storage space. Knowing this, we spoke to some professionals in the housing industry about the importance of storage in a home and how it will add value.
What Buyers are looking for?
Charyn Youngson a Property Renovator, Home Stager and Home Selling Strategist at ‘House to Impress’, has been in the business of transforming homes to sell for ‘top dollars’ and she shared the following,
“I definitely believe that buyers seek homes that have plenty of storage. Women may be looking at the kitchen and bathroom but the man of the house is only interested in space for his boy toys. Having a sizeable shed or garage is quite often high on the list of must haves for prospective purchasers when making a buying decision.”
David McCrae from Manfredini McCrae Architects, specialising in residential additions and alterations, provided us with a unique insight on the design of storage in a home and its importance… which needs to be considered when adding storage solutions:
“Storage, and well designed storage, is increasingly becoming a major issue and concern for clients (home owners/builders), wanting to find a place for everything, and everything in its place. To many buyers storage does matter, but it also needs to be in keeping with the overall design aesthetic of the house, and be secure, weatherproof and in a convenient location.”
It really pays off to consider adding storage solutions to your home and perhaps one or two different things to appeal to the female and male market. Simply taking the amount and design into account seems to get buyers attention.
Will garden sheds, carports and garages add monetary value to your home?
One way of increasing storage space easily is by adding outdoor structures such as sheds, carports and garages. Not all houses have one or even two of theses so it’s worth investing in at least one. However before deciding, consider if it will add monetary value to your home and if you will get back what you invest when you sell.
Charyn answered the question without any doubt,
“Yes sheds, garages and carports do increase the property value of a home. When advising clients on how to add value to their homes before selling, I quite often recommend converting carports to garages to increase the appeal. Buyers love the idea of the extra security that an enclosed garage provides as well as the increased storage capabilities.”
Tim Zampech, an award winning Real Estate Agent at Harcourts Coastal, also shed some light on the topic saying,
“When you invest in a large structure such as a carport or garage, it can often add considerable value to your property. As most families nowadays have more than two cars (and if they don’t, everyone has a boat, caravan, trailer etc.) a home with extra undercover garaging is always going to be a winner. When selling your property, success is achieved when you can make your property stand out from the rest and offer features that other homes in the area are missing. There are no guarantees, but if the right buyer is drawn to your home through the extra garaging space, you could see a premium price achieved for your property.
As far as the design of your additional outdoor storage structures, David says,
“A well designed shed, carport, or garage, that is secure and fits within the design aesthetic will always add value”.
You don’t want it to look out of place or even clash with the home and garden as it can turn anyone off the sale. You want it to look like it belongs.
Wrapping it up…
So when getting your home ‘valued’, the appraisal may not entirely reflect the value of your additional shed, garage or carport investment however here is how it will in fact benefit you:
- Having a well-built shed, garage or carport will increase the value of your property in the buyer’s eyes.
- By having extra storage, especially if it’s a good quality and an aesthetically attractive structure will encourage a higher price from a buyer or be the thing to push them to buy.
- You will almost be worse off if you have a run down or ‘ugly’ shed or garage on the property, rather then no structure at all so and it can take away from the value of your home.
- Make sure your shed, garage or carport is in good condition and that it serves its purpose well and adds to the home not take away from it
Storage solutions are on the top of buyer’s lists, houses lacking this will sell slower or not at all. So if you are about to embark in renovations to get your house ready for sale…Its worth evaluating the storage in your home.
Charyn Youngson is a Professional Property Renovator, Home Stager and Home Selling Strategist and has consulted on millions of dollars worth of Property Transformations that have either sold for Top Dollar for sellers, or increased in value for homeowners and investors.
Tim Zampech has over 15 years experience as a licensed Real Estate Agent at Harcourts Coastal and achieved a long list of awards for excellence, including his recent achievement of Harcourts Diamond Agent Status for $60 Million in Career Sales.
David McCrae from Luisa Manfredini and McCrae Architects specialise in Residential additions and alterations, as well as Contemporary revitalisation of older houses and apartments.