It’s no surprise that sheds are a popular home improvement addition with homeowners everywhere. Sheds add value to your property for many reasons.
The cost of building a new shed can be significant with higher-end spaces going for up to $30,000, while simple lockable rooms that’ll keep your tools safe from the rain go for as little as $100 or so.
If you’ve already got a shed on your property but it’s not in the best shape and you’re concerned about increasing your home’s value, either in support of a sale or otherwise, consider updating it. It’s often the more economical choice. Even better, an updated shed can help increase your home value and attract potential buyers. Here’s why:
Extra Functional Space
Residential property lots are usually somewhat limited in size. Many modern developments feature lots of 0.25 acres or so. That means space is at a premium. That’s especially true for functional spaces that are separated from the main living areas for additional privacy and utility.
When they’re well made and configured, sheds can give you space for a work-from-home office, a workshop for home improvement projects, or a fun play space for kids. Add a few kitchen essentials and a bathroom and you can even use a large-enough space as guest quarters.
Added Storage Space
The same is true for sheds that can be used for additional storage. More storage space is at the top of many homeowners’ wish lists for their residential properties. Storage space seems to be forever at a premium and adding more of it can raise your property’s profile over comps in the area that don’t have sheds.
However, if it’s going to add to your home’s value, a storage shed needs to provide adequate shelter for the stored items. Ensure it’s watertight and airtight to protect items being stored from the elements, and invest in a solid outdoor lock to help keep your valuables safe.
Improved Visual Appeal
An attractive, well-built and properly maintained shed can add significantly to the visual appeal of your property, thus raising the value of the entire lot. Stripping old flaking paint and giving the shed a fresh coat with colorful trim can give your shed a whole new look. Or add attractively weathered siding for a nautical or rustic look. Making your shed aesthetically appealing raises the curb appeal for the entire property and raises your appraised value across the board.
Value of a Secondary Structure
When a piece of residential property has more than one improvement or constructed building on it, the value of the property as a whole increase. That’s especially true when the second building is well-maintained and visually appealing as a whole. When you can enlarge and update your shed, it adds to your property’s value.
Keep Your Shed Well-Maintained
Only sheds that have been properly maintained will add value to your property, making it more likely to sell. A rundown, decrepit shed with flaking paint will have the exact opposite impact on your lot’s valuation. Use the highest quality materials you can afford in updating your shed for the best possible results.
Don’t forget to trim weeds and edge around the shed’s perimeter. If possible and if you don’t already have one, add a walkway or paving stones to provide a safe, attractive access path to your updated shed. A few flower boxes or other strategically placed plantings will help add to the visual appeal and consequently to your property value as well.