Property is almost always a good investment, so anything used for increasing property value is invariably twice as nice! One of the easiest ways of laying some additional love (and loot) on your land is adding a pole barn. Simple, inexpensive construction is the hallmark of post frame structures, which are used for a plethora of things from man caves and she sheds to office space or extra room for Mom.
No Garage, No Dice
One of the best pole barn features is flexibility. These large, sturdy structures can be used to house almost anything, including cars. According to Realtor Magazine, a house with no garage just might be a deal-breaker. If you’re considering selling your home, and it doesn’t have a garage, a quickly constructed pole barn might just save the day…and the sale.
Capital Expenditure Depreciation
According to the IRS, a pole barn increases property value and the cost is deductible as capital expenditure upon sale. This deduction often lowers the profit from the property but also reduces payment of capital gains taxes.
In addition to the cash you’re raking in using your immaculate pole barn as a destination wedding venue, you can write it off for professional purposes. As long as you’re not in the process of selling the property – the cost of the pole barn is depreciated over the life expectancy of the structure – if it’s used for business purposes.
According to Zillow, solar panels on homes add an additional 4.1% of value, equating to $9,274 at the time of sale. Environmentally friendly improvements increase property value. Pole barns are about as green as it gets in architecture. Consider constructing with rough-cut lumber obtained from utility companies, far better for Mother Nature and easily cut down to size Even the roof support can be made from recycled materials.
Imagining the joy of what you’ll do with your pole barn while living on the property, is only surpassed by the promise of immense profit when you decide to sell.