Is Building a Three Car Garage a Good Investment?
If you are planning to construct a new home, or if you need more space for vehicles or storage, you may be thinking about building a three-car garage. A three-car garage would cost more to build than a two-car garage, although the extra cost per square foot would most likely be relatively small. A larger garage could increase your home’s resale value and help you attract a future buyer.
Reasons to Build a Three-Car Garage
If you have three drivers in your family, or if you have a child who will start driving soon, a three-car garage can be a smart investment. If you decide to sell your home in the future, a three-car garage may be on a wish list for families with teenage drivers.
Even if you don’t have three cars in your household, a three-car garage can make sense if you need extra storage or workspace. For example, you may decide to park two cars in the garage and designate an area to store lawn and garden equipment or to work on a hobby.
If you currently have items in a storage unit, the monthly fees can quickly add up. Instead of continuing to pay for rental charges, you may save money in the long run by building a larger garage and storing your belongings there.
With a three-car garage, you will be able to keep all your vehicles out of rain, snow and ice, as well as hot summer temperatures. Potential buyers will most likely appreciate not having to clear snow and ice off a car before leaving for work on winter mornings and not having to get into a sweltering vehicle in the summer.
A three-car garage requires a wider driveway than a two-car garage. That means more room for guests to park and more space for your kids to play.
Possible Downsides
Depending on the size and design of the lot, a three-car garage might cause you to lose a significant amount of space in the yard. If you are planning to build a new house from scratch, a three-car garage may limit your design options for the rest of the house.
How Important Would a Three-Car Garage be to Potential Buyers?
Consider other houses in the area. If most have three-car garages, you might have trouble selling your house if it only had a two-car garage. On the other hand, if most houses have two-car garages, a three-car garage may be a bonus for prospective buyers, but not a requirement.
For a potential buyer considering two similar homes, one with a two-car garage and one with a three-car garage, the bigger garage may be the deciding factor. If you have room in your budget, it may be a good idea to spend more for a bigger garage to have the added convenience, raise your home’s value, and to make it easier to sell in the future.