Does a Shed Increase Home Value? Top Home Appraisers Weigh In
Sheds can be incredibly useful, whether you’re using them for additional storage or as outdoor space for an office, a hobby, or just relaxation. With all these uses, does a shed increase home value when it comes time to sell?
Especially as more people work from home, agents say buyers are looking for office space and outdoor space, which the right shed can provide. According to our Top Agent Insights for End of Year 2023 report, 37% of agents cited home office spaces or dedicated remote work areas as the biggest selling points of a house, while 31% said large and improved outdoor spaces help make a property sell.
Other shed-owners have embraced man-caves and she-sheds, creating the perfect space to relax, read, craft, or even entertain.
To take the mystery out of the question, “Does a shed increase home value?” HomeLight spoke to top experts in valuing homes from different regions around the country and real estate agents who’ve sold hundreds of homes with sheds.
Below, learn the average cost of a shed, what it adds (or detracts) from home value, and how to make your shed a positive point during a sale. And to get an idea of your own home’s value, check out HomeLight’s Home Value Estimator tool.
How much does it cost to build a shed?
First things first: If you’re adding a shed to your property in hopes that it will boost appeal, you’ll want to know how much it’s going to cost. Angi puts the national average cost to build a shed at $3,500. But your total price depends on what type of shed you’re building and whether you’re doing it yourself or contracting it out.
If you’re building it yourself, the DIY kits cost $350 to $4,000, depending on the size and features. Meanwhile, building a shed from scratch depends on the materials you use. The average cost for a wood shed ranges from $1,000 to $4,300, while a concrete shed ranges from $10,000 to $28,000. On the other hand, hiring a contractor to build a custom shed can cost around $50 to $100 per hour.
The purpose of the shed will also affect its price. If you simply want a small place to keep your tools out of the elements, you’ll pay less as the national average price is $2,500, according to Angi. More high-end sheds can cost up to $30,000. And if you want to build something you’ll actually spend time in, such as an outdoor living room or home office, expect to pay between $7,800 and $15,000.
Generally, the cheapest option is to buy a prefabricated shed with factory-made components that can be assembled on-site. Typically, small metal prefab sheds cost as low as $150, wood ones can be as low as $1,500, and plastic can be as low as $400. These sheds can also easily be moved or removed from the property.
