Can A Garage Refurbishment Add Value To Your Home?

In the vast majority of cases, an extra room is worth more than a garage, so if you are planning to sell your home in the near future and want a cost-effective selling point, a garage refurbishment seems to be an ideal addition.

In many cases, converting your garage into a home office, gym, or even studio flat can minimise your usable space without the expense and potential planning headaches of building an additional outbuilding, conservatory or extension.

To understand why, it is important to know how to maximise the value of your home, when a refurbishment is best, and when you might be best to keep a garage or alter your plans to allow a car to be stored there.

How Much Is A Garage Refurbishment Worth Compared To A Garage?

Exactly how much a garage is worth varies by region, but a garage can potentially add up to five per cent to the value of a home, whilst turning a garage into another room can add up to 15 per cent according to Zoopla.

Assuming the average price of a property is £376,191, as described by Rightmove’s House Price Index, a garage can add nearly £19,000 to the price of your home, whilst a conversion can potentially add over £56,000.

This can make it seem like the most obvious decision, but it is worth noting that these numbers can vary considerably.

When Is It Worth Keeping Your Garage?

In certain areas, some buyers will see a garage as a non-negotiable part of the home. If they need the parking spot for their car, they may look for another similar home with a garage.

This is particularly true in the city, where parking can otherwise be very expensive, or in already spacious country homes where the benefits of another room are less noticeable.