Will knocking down garage reduce my property value

HARSA

Hi,

I am almost done renovating my two bed bungalow which I have added a big extension at the back to create two extra bedrooms, two bathrooms and a massive kitchen dinner.

The whole bungalow is going to be rendered and painted white. I was going to do the same for the garage too and have a new garage door.

Now I am thinking of knocking the garage down to reveal the whole front part of the bungalow and simply get a big shed at the back garden.

However I am worried that this may affect the value if I come to remortgage to release funds in a few years time. I want to extend in the front of the property ( L shape ) up to where the garage is currently located.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43756037&sale=50729846&country=england

Ps I have no plan of every selling in future and the value is just for remortgaging to release funds for the extension. Also for a feel good factor that all last six months of pure building experience has paid off. That the money I have spent of buying it and doing it up is all worth it.

Also the bungalow sits on a very big land with a very long and big front & back Gardens - so no issues on losing or gaing space by knocking the garage down.

As always appreciate you take on this one.

Blackpool_Saver

Hmmm, tricky one, with the way it is positioned and there being no space elsewhere for it, providing it's in good condition (note all frontage will be done) I would be inclined to leave it

HARSA

Blackpool_Saver wrote: »

Hmmm, tricky one, with the way it is positioned and there being no space elsewhere for it, providing it's in good condition (note all frontage will be done) I would be inclined to leave it

It is definitely in a tricky position. To access the back there is a gate on the left and also behind the garage.

The garage is structurally sound just a little roof leak which I can fix. If I leave it there guess will make planning permission a little easier as it can go down as linking to garage and converting to a living space

However taking the garage done will reveal the full front of the rendered and painted bungalow which I may add will look really bbeautiful observedfr om the front.

I will not miss not having a garage but unsure if done up the same as the front bungalow will mean not losing value as with the garage.

So difficult to decide

silvercar

I would keep it. You will be annoyed with yourself if planning permission is refused once it has gone.

AdrianC

HARSA wrote: »

Ps I have no plan of every selling in future and the value is just for remortgaging to release funds for the extension.

I'm guessing that the extension cost is not going to be a substantial proportion of the equity you have in the place?

So, really, the "value" added or lost is academic. So long as you're not talking about a high (probably 70%+) LTV, then the "value" doesn't matter at all for the loan and - since you're not planning to sell - the main factor is how you want to live in the place.

Stop worrying, and do what you want.

Davesnave

Correct me if I'm wrong, but the forward building line of your property is created by the garage, so whatever you do, I wouldn't remove it prior to gaining PP for the forward extension you plan to do later.

Bliss77

Think I would be inclined to leave the garage - unless you never plan on selling.

I can see the logic in sacrificing a garage for extra indoor space if it is needed but it sounds like you have a fair amount of outdoor space already.

Buyers (especially over a certain budget) often expect a garage. We are buying a four bed place at the moment and a garage was essential for us