How much is a garage worth?

river_kwai

I have seen a house with no garage. My question is that how does that affect the price of the house? Let's take a hypothetical situation, 2 identical house in the market, one with garage and one without, what would the price difference be?

Another off-topic, how much does a conservatory add value to a house?

Woby_Tide

conservatory normally less than it cost to build in most cases, unless it's quite big and changing layout of house.

Garage I'm not sure of, we are toying with idea of removing our garage to extend house out sideways onto garage. At the time of purchasing you think 'ooo a garage', then when you have a garage, you never put your car in it cos of the hassle(plus our driveway is 1920's car narrow) and it just fills with rubbish which a shed could cope with. Only downside is it's on a large concrete base with abestos roof. if house had an integral garage or easily reached with multiple uses i.e. washing machine/tumble/freezer storage plus car usage and storage, i'd pay a premium certainly

TheDink

In towns where parking is at a real premium, we have seen garages in blocks being sold for £7-12k. I would expect to pay £4-5k more for a place with a garage than for an identical one without (though if the one without had space to build one, I would probably go for that.)

Doozergirl

A conservatory will typically add around £10,000 to the value of the house.

Dee123_2

When I was house hunting a year ago, the Estate Agent showed me the property, then rang me a few days later to say the present owner, who had bought it to do up, had "remembered" there was a garage in a nearby block (100m-150m away). I was told this added about £3k the place (a maisonette around the £125k mark). I guess it would be a grand or so more if it was right next to the property?

Dee

GDB2222

I received a valuation of a garage in Belsize Park at about £40k iirc, so it depends entirely on location.

theGrinch

a garage will add 5-10% to the average house. if it is a town house with problem parking then a garage or OSP will be desirable, whereas if parking is easy and the area low crime then it will add something but not as much.

Plasticman

I had a place with a separate garage in a block. When I came to sell they valued the property and I then added that I also had a garage. The EA told me that it made no difference and that they would still recommend putting it on at the same price! So.... I sold the flat without the garage and got an extra 5K selling the garage to one of my neighbours

virgin_moneysaver

also to consider is that your car insurance premium drops if your car is garaged - when I checked with an insurance broker recently about the scenario of quoting for insurance when the car is garaged & the case of the car being broken into when parked on drive & not put away - he said that the question the insurers ask when quoting is 'where is the car USUALLY parked' - so as long as the car is garaged 51% of the time the insurers would pay out (how they gonna check for that 51% he didn't say!) - so having a garage is an advantage

Woby_Tide

have you seen what discount you get when you say a car is garaged though? last time I tried it was about £8 per year, 183 days, at 2 minutes per day, 1 in/1 out and that's conservative with my garage door(!) = 366 minutes, £1.30 an hour for my time? no thanks!

frugal_dougal_3

Doozergirl wrote:

A conservatory will typically add around £10,000 to the value of the house.

It could if it was a good looking one, but it would also depend on the price of the house overall. Anything at the lower end of the market ie £110-£130k will definitely not gain that much from a conservatory.