Will adding a garage increase house value?

KikiO

I've had the single garage on my bungalow converted to a bedroom, allowing for other bedrooms and part of the garage to be converted into a kitchen diner. My question is about whether it would be worth adding a concrete single detached garage, basically replacing what I've had converted (there's enough room at the side of the house, there is also a driveway that can take 2 cars so parking not an issue). I need storage space and I'm thinking of either the concrete garage idea, costing around £3K or a large shed of similar size costing around £1K. There are no similar properties in my area to compare their value. I just want to know whether installing the garage will add value to the property as a whole as if it won't, I might as well go for the shed. Thoughts appreciated please thanks.

Nilrem

I would think it would really depend on what someone looking at buying the house wants (it could add value or decrease value).

Personally I'd say unless you're planning on moving out in the near future do whatever suits you best, but I would be tempted to say if you're thinking of remaining there for 5+ years go with the concrete garage as a wooden shed can/often will require regular works (things like paining preservative on it every few years).

Grenage

As a bloke with a fondness for power tools, I would pay more than 3k extra for a house with a detached concrete garage. I wouldn't for a shed.

Davesnave

A garage is more desirable than a shed, but then solid wood doors in a kitchen are more sought-after than vinyl wrap.

Would anyone pay more for these things? Doubtful, because it's the whole package which matters, not the individual stuff.

lstar337

I think a garage is attractive and I would pay a little more, if the rest was what I wanted. Whenever I see a garage I think of the potential. I wouldn't be putting a car in it, too much messing for little benefit.

The first things I think of are extra storage, man cave, workshop, kids play room, utility room. So much potential for a garage, it frees up so much space in the main house.

andrewf75

I'm sure it adds a few grand, but not enough for it to be worth doing just to add value.

glasgowdan

3k for the garage, and a couple k for the base as well. Plus money to get electrics/lighting into it.

Yes a house with a garage will sell better than a house without.

macman

Does anyone actually use their garage for keeping a car in these days?

lstar337

macman wrote: »

Does anyone actually use their garage for keeping a car in these days?

I doubt it, since they seem to be built an inch wider than the width of a standard car.

enjoyyourshoes

I do not think the value of the property would increase enough to cover the cost of the garage (power etc) construction.

But as Nilrem said, if you NEED it, then don't necessarily reconsider resale, as you will get back the value yourself (security for those power tools, cheaper insurance for car in garage (if size big enough!)

womble12345

Just call a local estate agent and ask them, they know the local area and what local buyers are looking for.
I am going to convert part of my garage into a utility room and called a local estate agent to ask how it would affect value (they said it wouldnt increase or decrease value).