Garage conversions can add up to 10 per cent to the value of your home. That’s a £35,000 increase on a £350,000 house. The reason for this boon is the increased living space, which commands a premium on all types of property.
A potential selling point
Garage conversions are a selling point in our opinion. Most people use them as storage – and many people don’t use their garage at all. Transforming the space into a habitable one is a great way to increase usable living space.
Usable living space is how prospective buyers determine whether the houses they view would suit them. No one wants a house that is too small. By converting your garage, you are playing to the crowd who always want more space.
Any garage can be transformed. You can convert any garage into a room!
Working out cost and added value
You’ll easily spend £8,000 to £30,000 on a garage conversion. The total project cost is calculated based on the square footage of the conversion, and the extent of the specialist work required to make the space habitable.
If those figures have come as a shock, it’s important to remember an attic conversion will set you back double, and an extension will set you back even more. Garage conversions are, pound-for-pound, a cost-effective home improvement.
Whether or not you will recoup the cost of converting a garage when you come to sell your home is a matter of the market. After all, the housing market is a buyer’s market, and if your home can offer something special, it’ll do very well.
The quality of the conversion is also important. A low-quality conversion could actually devalue your home. So, it pays to choose a good contractor.
Here are the basics of a garage conversion:
- The front wall will be reconfigured to replace the garage door with a solid wall, window and an external door if required
- The internal walls are insulated
- The internal walls are then plastered
- The roof is insulated
- The roof is then plastered
- The floor level is raised to match the house
- New electrics are installed to suit the layout
- Central heating is integrated with a new radiator
That’s a lot of work. £8,000 to £30,000 will cover it. If that falls within a 10% price increase on your home, you could very well recoup the costs when you sell.