Ask any homeowner what they’d change about their property and the answer is almost always the same: more space. Fortunately, adding square footage to a property can be relatively easy, particularly with planning, design and construction services from a reputable builder.
With the COVID-19 pandemic causing the property market to slow down, more people than ever are looking for ways to create extra space and enhance their properties. Of course, knowing how to make changes to your home isn’t always easy.
In addition to creating more space and adding functionality to your home, you’ll want to ensure that any changes you make have a positive impact on the value of your property too.
Garage vs Extra Room
People tend to assume that adding an extra bedroom to a property is the ultimate way to boost its value. In some cases, this is true. A four-bed house will almost always be worth more than a two-bed home in the same area, for example.
However, it’s important to consider the specifics of your property before jumping to any conclusions. If you live in a built-up area with little on-street parking, for example, the addition of a garage could have more of an impact on the value of your property.
While many properties do have a garage, they’re rarely fit for purpose. As the size of cars has changed over the years, traditional garages are rarely used for vehicle storage. With a simple garage conversion in Leicester, however, you can ensure your garage can house your vehicles comfortably. What’s more – your conversion could increase your storage space, as well as creating a secure environment for your cars or vans.
When it comes to garage conversions, there really are no limits to what you can achieve. You may decide to transform an existing structure into a dedicated home office, for example. Alternatively, you could choose to create a self-contained studio flat, playroom, home gym, a cinema room or even a bar in your own garage conversion.
With so many options available, it’s easy to see why garage conversions are becoming increasingly popular. As people spend more time at home, the need for increased space and functionality is encouraging people to make the most of the space available. By converting your garage into a multi-purpose unit, you can get the extra space you need, increase the functionality of your home and boost the value of your property.
Designing Your Garage Conversion
Any change to your property requires careful planning, particularly if you want to increase the market value of your home. With assistance from reputable builders in Leicestershire, you can design a garage conversion or property conversion that fulfils your needs and complements the style of your home.
From extending an existing garage structure to creating a brand-new garage in unused space, Oaklands can provide the expert design, planning and construction services you require. To find out more, contact us today on 0116 277 2252.
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FAQs
Garage vs Extra Room
Does adding an extra room increase home value? ›
Q: Are there any guidelines for determining how much value an extra bedroom adds? While it varies by location, a general rule of thumb is that an extra bedroom can increase the resale value of your home by 15% to 20%, on average.
How important is a garage when selling a house? ›
Having a garage will nearly always help you sell more quickly and likely at a higher value than a home without one. The bottom line, buying a home with a garage won't hurt your investment plans (unless it's a mess and falling down!) and will likely help you sell with a higher future value.
Is it cheaper to convert a garage or to build an addition? ›
Pros and Cons of a Garage Conversion
Compared to additions, a conversion is generally more affordable and less bureaucratic. Like with any well-planned remodeling project, a conversion will potentially add resale value to your home and increase your everyday quality of life.
What is the downside of a garage conversion? ›
You will lose some (storage) space
If the garage is used as a storage space for everything else that does not fit in the house or even for a car, then this space will be lost as the trade-off for gaining a new living space.
What adds the biggest value to a house? ›
Projects That Boost Your Home's Value
- Remodel the kitchen. Updates to the kitchen pay off. ...
- Upgrade the appliances. If your appliances don't match, consider ordering new doors and face panels from the manufacturer. ...
- Remodel the attic or basem*nt. ...
- Improve energy efficiency. ...
- Swimming Pools. ...
- Luxury Upgrades. ...
- Garage Conversions.
#Your Real Estate Value And Return On Investment
It is estimated that a functional and finished garage can add $5,000-$25,000 worth of value to a house in California. According to Remodeling Magazine, a detached two-car garage costs about $50,000 to build and recoups nearly 65% at resale.
How much value does a garage add? ›
A general rule of thumb though is that a single garage can add between 5-10% of the total value of your property and up to 20% for a double garage.
Is not having a garage bad for resale? ›
So, really, don't worry, you'll be able to find that dream buyer when the time comes, no matter what choice you make. After all, people owned your home before you bought it, and you found your way there. “Not having a garage is never an issue if the home is priced appropriately,” says Vander Stelt.
Does converting a garage into a room add value? ›
As long as you complete your garage conversion properly, it will add value to your home. The value itself depends on how seamless the conversion is and the type of room you build. Typically, you can expect to recoup about 80% of the project cost. But your home can lose value if you ignore three key factors.
The garage is an under-rated money maker for any homeowner
Typically, the ROI of a garage addition is sixty-four to eighty-one percent, adding an estimated $20,000 to $35,000 to your home's value.
Should I convert my garage into a room? ›
For the most part, experts agree that converting your garage into living space does not add value to your home. This isn't always the case; it depends on where you live. And if you're planning to sell your home within three to five years, a garage conversion is usually not a good idea.
Do I need permission to convert my garage? ›
Do I need planning permission? Planning permission for a garage conversion is not necessary in many cases, although it is always best to double check with your local authority first. Most integral garage conversions fall under Permitted Development which means there is no need to make a planning application.
How to turn a garage into a room cheaply? ›
You'll need to insulate and finish the floors, walls, and ceilings to bring the room up to code. You may also need to add windows and electrical wiring. Simple drywall is the most cost-effective finish for your walls. Insulate and use drywall on your ceilings for an interim solution before fully finishing them.
Is it worth it to add a room to a house? ›
As a general rule, it is worth it to put an addition on your house. Of course, everyone may have a different experience. We've outlined a few scenarios in which addition construction is an extremely practical option. People are unique, which is why homes come in all shapes and sizes.
Does the number of bedrooms affect appraisal? ›
The size of the home is another crucial factor that the appraiser considers while determining the value of the property. This includes the square footage, number of bedrooms and bathrooms, and livable space.
How much value does adding a bonus room add? ›
How much value does a finished bonus room add? If the idea of additional living space wasn't incentive enough, a finished bonus room is also a worthwhile investment that can add between $10,000 and $30,000 to the value of your home.
Does the number of bedrooms affect house prices? ›
How does an additional bedroom affect the appraisal value? An appraiser is focused on the amount of square footage in a house, not how many bedrooms there are. This means that the appraisal value will usually only go up with an additional bedroom if it comes in the form of additional square footage.
