Over half of the houses in the UK have garages. They are great ways to store equipment, keep cars safe off the road, or even use for a series of other inventive and interesting purposes. When it comes to selling or valuing your property, garages can add a sizeable amount of potential revenue. Just how much can it add though, and what can you do to get the most value from your garage?
It is becoming increasing rare for home owners to use their garages as car storage, but those that do can still expect to get quite a lot of value from it. A study by Planitherm Glass found that a garage or parking was the number two request from prospective house buyers in the UK. People who use their garages to store their cars can generally expect about a 5% increase on property evaluations.
On top of this, garages add the running bonuses of reducing costs of insurance, by labelling it as the main storage choice for your household vehicles. In summary, using your garage as car storage is a great option for your finances, for both long and short term.
Converting it to another room
One sure fire way to increase the value of your property is to convert your garage into another room. Having a complete refurbishment of your garage, turning it from a vehicle storage site or space for old clutter into a brand new playroom or study, can return a very hefty investment when you are looking to sell your house. About 90% of garages are currently not used for storing cars, and instead a popular trend with home owners is to turn their old storage space into a newly refurbished room.
According to the Daily Telegraph 650,000 British households have recently converted their garage into another room, and a further 470,000 intend to undertake this conversion in the future. This indicates just how popular this option is, both from a home owner and buyer’s perspective, and is certainly something you could consider when trying to get the most out of your garage.
If you really want to maximise your investment, turning your garage into another bedroom and bathroom can return massive amounts of value when it comes to selling your property. Whilst it can generally cost around £10,000 to £20,000 to convert a garage into another room, it can add around £40,000 to the value of your home.
Improving your garage door
Despite the previous options, you don’t have to make massive changes in order to make the most from your garage. Simply replacing an older or damaged garage door can increase the value of a property. Garages are often one of the first things that people notice when they look at a new property, so it is important that it looks good.
Curb appeal can be a massive factor when it comes to selling your house quickly, and for the highest possible price, and a new garage door can definitely help when it comes to first impressions for potential buyers. For more information on updating your garage door check out our collection, with a whole host of different doors from leading manufacturers to choose from.