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Homeowners love a good shed, and it should come as no surprise that a well-crafted, attractive shed on your property can actually increase your property’s value. While building or erecting a new shed on your property can cost anywhere from a few hundred dollars to as much as $30,000, you may not have to incur quite so much expense if you’ve already got a shed on your property that just needs a little TLC!

An updated shed can increase your home’s appraised property value, whether you’re considering a sale or not. Fixing up your old shed is often the less expensive alternative, and the right updates can attract more potential buyers for your home.

The Appeal of Another Building

Sometimes, more is better, just because it’s more. Many people shopping for a new home respond positively to the second structure of any kind. Multiple structures on a residential lot have a way of making the entire property seem larger and more inviting—and more valuable. Having a well-maintained shed as an additional improvement on the property tends to increase the property value as a whole. If your shed is attractive and obviously functional, that’s even better for your property valuation.

Added Functionality

Most single-family homes sit on property lots that are somewhat restricted in size. In fact, for many housing developments, the lots have been steadily decreasing in size, some to as low as 0.118 of an acre. The shrinking lots help developers cram more parcels into each development, raising their profits but reducing the elbow room homeowners there can enjoy on their own lots.

This all means that space for a residential homeowner these days is increasingly at a premium. If you can add a contained space for additional functionality and family or guest use, you’re increasing your property’s value. For example, you can use a well-maintained, updated shed as a comfortable, secure office for remote work. Or you can configure it as a playhouse for your children and their friends, letting them enjoy games and toys without disturbing the adults in the home. With the addition of a bathroom and a small kitchenette, you could even offer your shed as a short-term rental or a guest house.

Increased Storage Space

With space at a premium for modern homeowners, a strong and secure shed can also provide additional storage room. For many homeowners and house hunters, adequate storage space is a must-have, and any home that provides a place away from the main residence that’s safe from the elements is a prize indeed.

At a minimum, it will increase your property’s appeal to potential home buyers over comparative homes in your neighborhood that don’t have a shed. Just make certain that it’s secure from the elements with a strong roof, windows and doors, and add a high-end outdoor lock that will help protect the items you’re storing inside the shed.

Enhanced Aesthetic Appeal

Does your shed currently add to the property’s curb appeal? If not, an aesthetic update is a good investment in your property’s value. Adding attractive siding or even simply repainting the shed’s exterior goes a long way toward increasing your property’s aesthetic appeal to others, and even adds to its appraised value. Add flower boxes or ground cover to make the place look a bit more like a small home.

Update Your Shed for a Higher Value

If you’d like your shed to pull its weight in adding to your home’s value, it’s important to keep it updated and well-maintained. Even simple upgrades such as fresh paint will make your property more attractive to potential purchasers.

To maximize that impact, try to use top-quality materials and methods in making upgrades to your shed. Also, don’t forget the surrounding area. Adding a path of paving stones and clearing out weeds will help highlight your updated shed’s appearance.