Garage conversion and house value

leila96

Hello,

just wondered if anyone could give some advise that has possible done similar. 

We currently live in a 3 bed detached house with a single garage that is attached, but only accessible from the garden or drive way. The house has 3 spaces for off-road parking (2 x tandem and 1 x front of house on driveway). Our washer/dryer is in the garage as we have no utility room.

We managed to initially buy the house for a price significantly under the asking (it had been part exchanged and the developer wanted to get rid fast), so we are thinking about releasing some money when it comes up for remortgage next year. 

Our plan is to convert the garage into partly additional space in the kitchen/diner so we can have a sofa/sitting area, and also create a small utility room with access from the kitchen. 

We don’t have much contents in our garage, but have a large garden shed so would move our bikes/tools into there. 

In anyone’s experience, is this likely to add value to our home? Im conscious not to reduce the value by taking away a garage, especially if we are releasing equity to fund it. For us a utility room/more space in the kitchen diner is more valuable, but I know that’s not the case for everyone. 

We plan to stay here for at least the next ten to fifteen years, due to the house location being next to and opposite a primary school and nursery.

Thanks in advance for any opinions

TheJP

Personally i would rather the garage as a buyer. I don't see it adding value to the house as you are changing the usage of space rather than increasing. If it was accessed internally and done properly then maybe but again you lose a garage which in itself balances any hopeful increase in value.

comeandgo

Garage for me too.  

Doozergirl

Couldn't care less about garaging.  In a land of ever increasing house prices, an integral garage is a very expensive space indeed.   It cannot be worth the same as a proper room, because it isn't one.  

A garden building of some description built at lower cost would meet a lot of people's needs if they choose to extend into their garage.   Even a storage container.  We're planning for a small one that will have landscaping around it. 

leila96

TheJP said:

Personally i would rather the garage as a buyer. I don't see it adding value to the house as you are changing the usage of space rather than increasing. If it was accessed internally and done properly then maybe but again you lose a garage which in itself balances any hopeful increase in value.

Hey, thanks so much for replying, that’s really useful. 

What do you mean accessed internally? I might have explained poorly, but I meant we would knock through our kitchen wall to into the garage to increase the space/add velux windows, and then separate a small part of the conversion with a door which would be a utility room. 

Really interesting to hear lots seem to favour a garage though, so will definitely take that into consideration! 

marcia_

 I'm planning on doing the same though not worried about the potential value or not. 

 Does anyone actually use their garage to park? Everyone here parks on the drive or street and the garages are full of junk! 

 Much rather get rid of the junk, put bikes in a bigger shed and have more living space. 

FreeBear

leila96 said: Our plan is to convert the garage into partly additional space in the kitchen/diner so we can have a sofa/sitting area, and also create a small utility room with access from the kitchen.

Not all garages are suitable for converting in to a habitable space - For example, mine only has a head room of 2.1m, solid concrete floor, single skin (~100mm) brick wall. And just to add to the problems, a manhole cover in the middle of the floor. Insulating and raising the roof level are both possible, but moving the drains & manhole renders a conversion very expensive. I would rather spend the money on a proper extension to the rear.

leila96

marcia_ said:

 I'm planning on doing the same though not worried about the potential value or not. 

 Does anyone actually use their garage to park? Everyone here parks on the drive or street and the garages are full of junk! 

 Much rather get rid of the junk, put bikes in a bigger shed and have more living space. 

Same on my street, most people park on the driveway/road. Ours is also full of junk! To me personally a utility room is more valuable and something I would have looked for had we had a bigger budget. I hate going into the garden to access the garage to wash clothes in the winter! 

I definitely wouldn’t be worrying if I was using savings, it’s just a bit scary taking money out of our equity!

leila96

FreeBear said:

leila96 said: Our plan is to convert the garage into partly additional space in the kitchen/diner so we can have a sofa/sitting area, and also create a small utility room with access from the kitchen.

Not all garages are suitable for converting in to a habitable space - For example, mine only has a head room of 2.1m, solid concrete floor, single skin (~100mm) brick wall. And just to add to the problems, a manhole cover in the middle of the floor. Insulating and raising the roof level are both possible, but moving the drains & manhole renders a conversion very expensive. I would rather spend the money on a proper extension to the rear.

That’s a very interesting point, and something we should probably explore! Most of the same houses on our street have done garage conversions, so I’m hoping it is possible!

Ramouth

I would look at it from a different point of view.  You are not adding area to the building so assume it doesn’t add or subtract value from the property (this may not be quite right but i would doubt it is much either way).  

Asses what the extra space is worth to you.  £50 a month, £100 a month?  Then look at what the extra borrowing will cost you.  E.g. £15000 over 15 years at 2% would cost you around £100 per month.  Would a bigger kitchen make you happier than £100 worth of other ways to enjoy yourself every month?

leila96

Ramouth said:

I would look at it from a different point of view.  You are not adding area to the building so assume it doesn’t add or subtract value from the property (this may not be quite right but i would doubt it is much either way).  

Asses what the extra space is worth to you.  £50 a month, £100 a month?  Then look at what the extra borrowing will cost you.  E.g. £15000 over 15 years at 2% would cost you around £100 per month.  Would a bigger kitchen make you happier than £100 worth of other ways to enjoy yourself every month?

It would 100% make us happier, it would make it more our ‘perfect’ home that we would be happy to stay in for the next 15 years. Currently our garage is a dumping ground of stuff we don’t even need, so it brings us no additional happiness.