Garage Conversion Survey Results!

Thank you to everyone who responded to the 1 question survey about whether or not converting your garage to a bedroom will increase the value of your home!

Before revealing the results, a few thoughts for you. 

  1. If you are considering moving, don’t convert your garage just to increase square footage. Allow the next owner to decide how to best utilize the space.
  2. Consult your Realtor before making this decision and let her run the numbers for you to see how it will pan out on resale. You don’t want to be surprised later.
  3. If you do it, do it right.

And now for the results:

Yes, it will add value= 38.64%

No, it will NOT add value=61.36%

What I learned from your responses:

  1.  I can almost tell where you live based on your answers!
  2. If you do your own yard maintenance, for example, you probably want your garage for all of your equipment.
  3. You may have an HOA that might frown upon this, particularly if you were thinking you could rent it out.
  4. If you live in the city and you have one of those garages squeezed into the alley, you probably think it’s a great idea to convert it into useable space to increase your square footage, but if you live in a neighborhood where everyone has a two car garage, you think it will negatively impact resale value.

We received almost 50 comments. Thank you! Here are a few of them:

“As a buyer, I personally would want to have the garage for storage space and have the option of converting it myself down the road.”

“I think added functional living space could be viewed as a positive to homebuyers. It seems like a lot of houses in my current neighborhood have done conversions to their garages and people seem less concerned about keeping a vehicle inside.”

“While it may increase value for some i don’t see the value in it since i can use the garage as a storage or workspace areas which i would lose if i were to convert it into a bedroom.”

“Generally i find the aesthetics unfavorable.”

“I would not purchase a home without a garage in the event of winter weather and storage purposes!!”

“If you’re in a neighborhood with homes that have garages, I would think buyers are going to expect a garage.”

“If done properly. I’d prefer that the conversion be done without it being overly noticeable. To do it properly however is more costly. Siding or brick needs to cover the entire previous garage opening then windows can be added. Putting landscaping where the driveway previously existed is ideal but this involves removing concrete. So, is doing it what I consider as properly a cost effective way to gain more square footage?”

“Increasing the square footage of your home adds value!”

“You could rent it out to help pay your mortgage.”

“The value of a garage with available storage and workspace tends to appeal to more buyers than a converted space. Most who need an additional bedroom will find a home that has the number they desire.”

“Too many other things which I use a garage for. And I think it would actually hurt the resale value or price per square foot.”

“Living in a small place now i value a extra storage, but i also can see the need to convert for a growing family . I don’t think I would buy a home that already converted its garage. I would look for a bigger place with a garage and if i needed to convert it then that would be a plus before moving.”

“Even if the next owners of the home do not use the garage as a bedroom, I know so many people in need of home office and home studio space, including myself!”

“I never think it looks quite right from the street when people do that. I prefer keeping a garage a garage”

“With ample parking and storage elsewhere I do think so!”

Thank you again for participating in the survey!

I hope you found something useful by engaging in the conversation!

If I can help you with this or similar real estate decisions, give me a call!

 

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: