Do Storm Shelters Increase Home Value?
With extreme weather like tornadoes threatening families and homes, many homeowners wonder…
will a Storm Shelter Increase my Home's Value?
Oklahoma is the center of “tornado alley” for a good reason. In the spring, cold fronts from Canada mix with warm air from the Gulf of Mexico to make Oklahoma the tornado capital of the world.
With extreme weather like tornadoes threatening families and homes, many homeowners wonder, “Do storm shelters increase home value?” While the simple answer is yes, understanding the value added by a tornado shelter provides a strong case for these home additions.
How Much Does a Storm Shelter Cost?
When asking yourself if a storm shelter will increase the value of your home, the first question is usually about the installation expense. Fortunately, our storm shelters are affordable to install, especially considering its added value.
Underground shelters can cost anywhere from $3,650 to $4,750 and above ground shelters range from $5,700 to $7,100. Storm shelters are far less expensive to maintain than basements, making them a superior investment.
How Much Value Does a Storm Shelter Add?
Besides protecting your family from violent weather, a storm shelter can add significant resale value to your home. According to Professor of Economics Dr. Kevin Simmons at Austin College, a storm shelter can add up to 3.5% of additional resale value to your home.
Typically, this amounts to about $1,000 to $2,500 added, depending on the value of your home. Shelters under 100 square feet don’t add to property taxes. Considering the affordability of these features, they have a high value-added proposition.
What Kind of Storm Shelters Can Homeowners Install?
While the most common storm shelter is an underground shelter, other types of shelters are available. Many above-ground shelters can function as safe rooms for other emergencies or even storage space.
We have seven different options, giving us an option for every family size and budget. We can provide you with more information regarding storm shelter installation.
Are Home Buyers Looking for These Features?
While it’s clear that a storm shelter can add significant value to your home, many homeowners wonder whether these features are necessary or desired by potential buyers. However, many realtors are looking for Oklahoma properties with these features, especially after recent storms. Real estate searches now include options to look for homes with storm shelters.
Install a Storm Shelter with Sprague’s Backhoe
Storm shelters can provide your family with peace of mind during an emergency or unpredictable weather. To learn more about the answer to “do storm shelters increase home value” or to begin planning your new shelter, call us or visit our storm shelter page to get started.
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