Should I Build a Backyard Shop?

I think we can all agree that garage space fills fast. Chances are you find old things you didn’t even know you had. Some may call this treasure, the proper term is hoarding. If your garage is starting to suffocate you then maybe you have thought about building an extra detached garage or shop. It is important to know the benefits versus costs of building a backyard shop.

The Benefits:

-Extra Space

The biggest advantage of a detached garage is the extra space. If you own a camper, boat, or other toys they can fit perfectly in your new shop, eliminating that monthly storage fee. A new detached garage can be the perfect place to store decorations, tools, furniture, and more. The extra space may be a reason for you to accumulate even more things and hold on to old stuff. If you are a builder or enjoy projects then the extra space can become your workstation. Noise from home projects is not an issue in the detached garage. The benefits of extra storage and space pay large unseen dividends.

-Customized Features

Another benefit of a new detached garage or shop is the flexibility of customization. Have you ever wanted a cool loft? Do you need more rooms for guests? Both of these questions can be answered. When building a detached shop you have the flexibility to add extra living space. This new living space can be a new guest room, storage room, or man cave. Maybe you want a restroom out in your shop so you don’t have to walk inside while you are working. A new shop can be the perfect place for a home gym. The possibilities are endless.

-Increased Home Value

The last and major benefit of a detached garage or shop is the increased property value it brings. The need for space is a big motivating factor for home buyers. This is huge and shows the value a backyard shop with more space can bring. These projects can recoup up to 70% of total costs in home value. If you have the land to build, then this may be a great option to enjoy more space and receive a good ROI.

In 2020, 44% of real estate agents cited the “need for more space” as the no. 1 moving motivator.

The Costs:

-Building materials

Of course, building a new backyard shop is not cheap, even if you recoup most of the costs through increased property value. One of the biggest concerns is the building material crisis caused by the pandemic. Due to shortages and increased demand, lumber prices have skyrocketed. For example, a four-by-eight-foot OSB sheathing was around $7.99 six months ago, now that same piece of lumber costs around $25 today.

Since mid-April 2020, the composite price of Lumber has soared more than 170%.

Some cost-saving building materials include reclaimed lumber, metal roofing, vinyl siding, and salvaged materials. Monitor construction and consult with your general contractor to make sure you are using the most effective materials for your budget. One great way to save on electrical costs is to use electrical conduit spacers. These spacers hold up through concrete, weather, and other damage to save you from bigger costs.

-Labor

Labor can be a costly expense. With demand constantly rising, trade companies are charging more per service. The best way to save money on labor costs is to learn to do simple things by yourself. This may include flooring, finish work, and painting. The more you can do by yourself the more money you will save on labor costs.

-Concrete and Excavation Work

Lastly, it is important to think about how much excavation and concrete work will need to be done. Clearing land and paving a long driveway for your shop can be expensive. Consider placing the shop or garage in a convenient location that is easier to get to. The more you can save on concrete and excavation the better, these are some of the highest costs associated with building.

By following these simple cost-reducing tips, your new shop will be a great investment. The total benefits, money and convenience, will outweigh the costs. Should you build a new shop or detached garage. The answer is yes!