Removing your garage can offer additional living space, enlarge your garden, or enhance natural light in your home. Despite garages being desirable for storage and car safety, the decision to remove one hinges on various factors.
The crucial question often pondered is whether removing a garage devalues your house. Let’s delve into the practical considerations and weigh the pros and cons to make an informed decision on optimizing your property’s layout.
Garages are valued by homebuyers for storage, car security, and potential car insurance savings. However, removing your garage can bring benefits, such as expanding your garden or gaining additional living space. If you’re contemplating the decision to remove your garage, a key consideration is whether this action might impact your house’s value.
Does removing a garage devalue your house?
Determining the impact of removing a garage on your property’s value is not straightforward. The outcome hinges on what you choose as a replacement. For instance, replacing the garage with an additional bedroom can increase your home’s value by approximately 20%.
Converting it into a home office or playroom may add around 10% to the property’s value. However, thorough research is crucial as certain garage conversions may have minimal impact or even decrease your home’s value. It’s worth noting that many homebuyers prefer houses with garages, so removing it may limit your potential buyer pool, even if it doesn’t significantly affect your home’s value.
Should I remove my garage?
Considering removing your garage? Here are practical questions to help you decide:
- Garage Condition: Assess the state of your garage. If it’s an eyesore or has issues like asbestos, it might not contribute much to your home’s value and could even be seen as a costly problem by potential buyers.
- Functional Issues: Evaluate whether your garage causes problems, such as taking up valuable garden space or blocking natural light. These issues could make your home less appealing to potential buyers.
- Local Norms: Check if other homes in your area have garages. If it’s a common feature, keeping yours might be expected, though it could also help your property stand out if others lack garages.
- Replacement Gain: Consider what you’ll gain by removing the garage. Converting it into an extra bedroom could increase your home’s value, but simply enjoying a larger garden may reduce its value.
- Long-Term Plans: Your home is your space. If you plan on staying long-term, prioritize your needs. If you’re thinking short-term, consider the potential impact on resale value.
Remember, there’s no one-size-fits-all answer. The impact on your home’s value depends on various factors, including location, home size, garage condition, and what you plan to replace it with. Checking property prices in your area with and without garages can provide valuable insights before making a decision.
How much does removing a garage cost?
The average cost to demolish a garage is around £2,000. Alternatively, if you decide to repurpose the garage into an additional living space, the conversion cost can range from £10,000 to £20,000. The final conversion expense depends on the design, material quality, and local labor rates.
In general, converting a garage is a cost-effective method to increase living space without the complications of a full extension. Ensure that the conversion cost remains below the added value it brings to your home, ensuring a profitable investment and preventing any potential devaluation.
Key takeaways
The impact of removing your garage on your house value depends on the replacement choice. Some homebuyers specifically seek properties with garages. If you replace the garage with an extra bedroom, it could potentially boost your home’s value.
The impact of removing or converting a garage on your property’s value varies based on factors like location and property size. Eliminating an old, unattractive garage, such as one with asbestos or a deteriorating carport, could potentially increase property value, especially if the new space is used positively. However, if you remove a perfectly functional garage, particularly in an area with limited parking, it might be perceived negatively, potentially leading to lower offers. Converting the space into living areas, while adding value, might be viewed differently by some buyers who see it as a potential future cost to revert it to a garage. In the end, opinions on these changes can be subjective.
MORE Property blogs HERE:
Buy To Let Defaults Surge with Rising Rates
Cashing Out of Buy To Let? Top Places to Make a Quick Sale
Why Are Buy-to-Let Mortgages Interest Only?
Is Buy-to-Let Still Profitable Today?
A Comprehensive Guide to Buy-to-Let Mortgages
First-Time Buyer’s Guide to Buy-to-Let Mortgages
Should You Invest in Property Now or Wait for 2024?
How Much Do You Need for Buy-to-Let Mortgages?
Stamp Duty on Buy-to-Let Properties
Can I Use Equity As A Deposit For Buy To Let?
Can I Buy A House And Renting It Out UK?
Is renting houses profitable UK in 2023?
Is It Illegal To Live In Your Buy To Let Property?
Ways to Minimize Your Rental Property Taxes
Section 24’s Impact on Property Investor Cashflow