How to Budget and Plan for a New Garage
If you’re in the market for a new garage, whether you have an existing garage that needs a makeover, or you have the perfect lot to build a new garage, budgeting and planning are two important factors to consider before jumping in. What size garage do you need? What will you be using your garage for? How much money are you willing to allocate? We’ll answer all these questions and more so you can take on your new garage build with confidence.
Variable Costs to Consider When Building Your Garage
The main factor that determines the cost of a garage depends on the size. How many cars do you need to store and what do you plan to use the space for? According to the Census Bureau’s Construction Data, two-car garages continue to be the most popular garage build option in the U.S., making up 65% of homes. You should also consider the size of other garages in your neighborhood as you’ll want something similar. For example, building a massive three-car garage when most of your neighbors have a one-car detached garage can actually make you stand out like a sore thumb and in some cases, may not get building approval from the city.
Additional items that’ll factor into your new garage budget, include: the possibility of a garage demolition, labor costs, the foundation, the type of siding, the framing and drywall, insulation, windows, and the type of garage door. At J.D. Griffiths, depending on the size and these additional factors, the general pricing of a new one to two-car garage is estimated between $18,000 – $45,000.*
Research Zoning Laws and Community Building Guidelines to Obtain Your Building Permit
Before doing anything else, complete research on your area’s zoning laws and community building guidelines. Depending on where you live or if you belong to a homeowner’s association, you might be required to present your building plans to an architectural review board before construction can begin. They set the precedent of where your garage can be located on your property and size limitations that you and your garage expert will have to work within to build your new garage. These guidelines can also include factors like: color, sizing, and the location of the build site. As you start to plan what you want your garage to look like, make sure you know the zoning laws and guidelines first.
Research Financing Options for Your Garage
If you need more funding to cover the expenses of your new garage, applying for a loan could be an option to help you get there. Many personal loans come with repayment terms between one to ten years. You could also tap into the equity you’ve built up in your home and apply for a home equity loan or line of credit to help fund the project. Shop around with a few lenders and compare rates to find the cheapest option to finance your new garage. Before doing so, be sure you have a solid credit score and a plan in place to pay back the money.
Timeline for a New Garage Build
The typical construction cycle can take anywhere from several months to a year to get on the schedule and usually only include the spring, summer, and fall months due to warmer weather. Other factors are dependent upon construction crew availability, building material and supplies, city permits, and approval of bank financing. Projects like this take patience and time to plan due to juggling multiple variables. With this time, be sure to complete your research, ask questions, price everything out to get the best bang for your buck, and get to know your garage builder.
When you’re looking to build a new garage, it’s important to understand the cost so you can financially prepare to get the garage you’ve always wanted. To get a better idea of what a garage could cost based on your needs and wants, check out our new garage calculator below. It’s a great ballpark range of what you could expect when pricing out your options. If you’d like to receive a more accurate estimate, send us a request for a free quote and we’ll follow up within a day or two.
New Garage Calculator
*These figures are an estimation to help you budget your garage project. For the most accurate figures, please contact J.D. Griffiths for a FREE quote!
