Garage conversions are a popular choice for homeowners looking to enhance their property value. The value added by a garage can range from 5% to 10%, influenced by factors such as functionality, location, and local availability of parking. Integral garages and attached garages are noted to be the most advantageous in terms of resale value. In urban settings where parking is scarce, a garage can be a vital selling feature, whereas, in rural areas, the impact may be less pronounced despite still offering practical benefits.
"A garage can significantly increase a home's value," explains Joseph Lane, founder of Mortgage Lane. "But the type of garage, its functionality, and its location are key factors that affect how much value it adds."
On average, Joseph says, a garage can boost a home's value by between 5% and 10% - though this figure can vary depending on your location and how practical or versatile the space is.
In areas where off-street parking is limited, a garage can become a major selling point. In rural locations, however, where parking is more readily available, the added value may be less pronounced.
According to Joseph Lane, integral garages - those built into the footprint of the house - are typically the most desirable, both in terms of convenience and resale value.
Collection
[
|
...
]