This is a question many homeowners have. If you need an extra room, should you convert the garage? Is it going to increase the home’s resale value? Let’s take a look at both sides of this question.
Increase in space
If you make your garage a room, this can add “living space” to your home. It can serve as a guest bedroom, an area for storage, or even a play room for the kids. So, if you are targeting buyers with kids, those who have guests over often, or even buyers who don’t have a car, the home’s value may go up.
Decrease space for vehicles
If you have several cars, if you need storage space for items, and if you need a space to keep large items, converting the garage can detract from its value. And, if you are in a neighbourhood where there aren’t many families, but more singles who have cars, bikes, etc., this might cause the home’s value to decrease.
It truly depends on where you live, what your family needs, and how you plan on utilising the space. Because there are different needs (for every family), the garage might be needed for some, but not for others. So, you truly have to assess the space, the use, and whether or not you are going to have cars in the garage, before making the decision.
Resale value is going to be affected by the market. Similar homes in the area, size, whether other properties have garages, and so forth. So, before making the conversion, you have to weigh your options (and decide if you plan on selling soon or not). Knowing your market and potential buyers, is the starting point to deciding whether or not to convert the space, and whether it will increase your home’s resale value. If you are interested in converting your garage and are unsure on the cost then yourjobcost.co.uk can help give you a rough idea on the price and what it entails to get this type of job done.