A question I was asked recently was how much does a garage add to the value of the property here in the UK?
Well, it can add quite a bit.
Because you might be extending your property’s appeal to buyers that really want a garage. You might have the spouse that wants to park their car or to use it as a workshop. So it can be a great advantage to buyers. It will add some value, there’s no doubt about that, because many buyers don’t like their cars stood on the streets, and a garage is an extra incentive for them to pay a higher price..
How much value does it add?
It’s really hard to say. Obviously, my advice is always do your research in that area. Have a look on Rightmove, have a look on Zoopla, see what other properties have been selling for with garages and without garages, and that should give you a good idea of the value it will add to your house.
When you’re doing that, make sure that the property you’re valuing internally is in equally the same condition as yours.
This will ensure you are making an realistic comparison.
So for instance, if you’ve got a property that’s worth £100,000 and you see one on Rightmove that sold for £120,000 with a garage, and your property is in similar condition, then that’s going to tell you that you’re probably getting up towards £20,000 extra for the value of your property.
I hope that helps. If you want to have a chat about it anytime, please feel free to give me a call. There’s never any obligation with me. I’m not trying to up-sell you at all. My number is 0191 486 2386.