How Much Does a Garage Add to a House Price?
At Stashbee we help landlords and homeowners advertise, list, and manage garages for rent. And Guests are more than happy to pay for the peace of mind a secure storage or parking space provides.
A well-designed garage can give your property so much more than enhanced kerb appeal. We have the lowdown on how much value a garage can add to your house, how much it costs to build a garage, and some extra advantages of owning one. We hope this helps you to decide if building a garage is right for you.
Don’t worry, your garage won’t be quite that scary. Source: https://www.reddit.com/r/gifs/comments/57jmay/halloweenthemed_garage_door/
How Much Value Does a Garage Add to a House Price?
If you have the space, converting it into a garage is a worthy investment. A garage can add up to 11% to the value of your home. Recent market research by Rightmove shows that 36% of buyers want a property with a garage or parking space. Not only will you have more luck selling a property with a garage, but you’ll enjoy other benefits. These perks include extra storage space and access to a passive income stream.
That’s right – you can make money from your garage before you ever sell your house! Besides the obvious future financial advantage when it comes to selling your house, you can also get value from your garage by renting it out to other people.
If building a garage costs less than the extra value it adds, you can make a tidy profit. But even if the project costs more, you can quickly get the money back by renting out your garage with Stashbee. You can potentially earn more if you combine all that with renting out your driveway, outhouse(s), or other rooms in your property.
Passive income made easy
A study from the RAC Foundation reported that around 60% of garage owners already use their garages for extra storage space rather than a shelter for cars. In that case, why not do the same… and earn some money in the process? Best of all, the first £1,000 in annual earnings from property income is typically tax-free!
Besides boosting your property’s value, garages are super low maintenance. Unlike renting out rooms and houses, garages provide a space to earn income without the hassle of boilers, leaks, furniture, or noise issues. Garages are also fairly easy to build and relatively free from planning complications. There are so many designs and configurations available for both attached and detached garages that you’re bound to find one to match your space.
With Stashbee’s help, all you have to do is list your space and upload photos of it (for free!), respond to enquiries, accept bookings, and arrange access for your renters. We take care of all the important but time-consuming and – dare we say – boring admin. We vet renters, sort out the contracts, and take care of your Guests’ insurance. Perhaps most importantly, we make sure you receive your payment each month through our cashless payment system. Right on time, like very welcome clockwork.
How Much Does it Cost to Build a Garage?
Have we convinced you there’s no reason why you, a savvy landlord or homeowner, shouldn’t add a garage onto your house? Great! Okay, now that we’ve got you hooked… it’s time for a lot of numbers and figures, so bear with us!
The cost of buying or building a garage depends on where you live and the type of garage you want (pretty standard). Prices for building detached brick garages generally start at £18,000 and go as high as £30,000 for a six-metre width and depth and a 2.5-metre height. Concrete garages are cheaper, ranging from £13,000 to £15,000.
Prefabricated and sectional garages are the cheapest, with prices starting at £1,000 (for the kit alone) and rising to £8,000 including labour costs. Prefab garages are cheaper because you don’t need to pay construction teams, engineers, and architects. They can be installed in as little as a day.
Interesting… and how much to build a double garage with a room above?
Glad you asked! Building a double garage with additional living space above it is a great way to get some extra bang for your buck (er, pound). Creating a garage and room extension will set you back at least £20,000. It depends on the specification of the room and the type of materials, but building one from scratch is likely to cost closer to £35,000.
However, don’t let those huge numbers scare you. The room above could make a brilliant open-plan loft conversion for a home office or games room, and add more value than a garage would alone. It’s all about those long-term investments, right?
How to Build a Garage
If you have zero experience in coverting or building garages, now is probably not the time to fake it till you make it! We recommend hiring professionals to help with building regulations, design, ventilation, electrical installations, and labour. If you’re determined to go the DIY route, get a prefab garage kit to self-assemble.
Fortunately, you don’t need planning permission for most garages as long as they’re not used as living areas. The floor should also take up less than 15 square metres if the garage is detached or under 30 square metres if you’re building an attached garage.
If your property is a listed building or part of a national park, it’s more complicated. You’ll probably have to get your paperwork in order and apply for full planning permission. It’s always a good idea to do a bit of research before you begin building anything on your property - better safe than sorry, right?
How to build a brick garage
A brick garage is one of the highest-quality garages, so it takes longer to build. You’ll need to hire a bricklayer at the very least, even if you supply the materials yourself. If you need a pitched roof, roller garage door, insulation, or heating, you should bring in tradesmen for a complete build; expect a timescale of about a week to a month. The biggest benefit of brick garages? They are lovely and low maintenance after the initial investment.
How to build a prefab garage
Prefab and modular garages are the best DIY options. They are delivered to your house for a quick and easy installation either by you or the company’s construction team.
Coming in a range of materials including concrete, metal, and timber frames, prefab garages are made from factory-made components. One of the benefits of concrete garages in particular is you can usually choose a finish in a choice of colours to match the brickwork of your house.
No matter which material you choose, remember: make sure you lay a solid concrete base first. Go on, drill that one into your head… pun intended!
How to build a garage with a room above
Here are a few tips to get you started:
- You may need to raise or lower floors or ceilings if you want your new room to seamlessly connect to the rest of your home
- Make sure your building materials blend in with the rest of the property
- Get the experts in to install heating, insulation, lighting, and plumbing if necessary
Is a Garage Conversion Right for You?
Building or converting a garage can certainly add value to your property, but whether you convert it into a parking space or storage space depends on your neighbourhood. In areas where parking is at a premium, a garage will be more valuable than an extra room. Already have access to a driveway and off-road parking? Then you might want to build a multi-purpose space with a living area above it. Either way, a garage can easily be tapped as a source of extra income.
If your garage is empty at present, why not convert it into a money maker right now? We’re happy to help you get more value from your garage. Take a look at our page for landlords and see how easy it is to get started. If you have any questions, contact our friendly team.
22nd Apr 2021