Newly Released Report Finds That Garages Add Value
The Nationwide Building Society has unveiled a detailed report about house prices and stated amongst several other findings that the installation of a garage can ‘raise a property up to a higher price level’.
It states the following: ‘The potential increase in value to a property from a garage or double garage has remained constant over the last few years. A parking space with the property would typically add around 8% to the value of a property, whilst a single garage would add a further 3% and a double garage a further 9% to the value of a property. A typical property with a double garage is likely to also benefit from other features which are not easily captured such as a large garden or a driveway.’
The exact potential increase in house price given for a single garage and double garage is 11.1% and 20.4% respectively, a considerable amount when you think about it.
Put yourself in the position of a buyer. Line up two near identical homes side-by-side, one with and one without a garage, which one are you likely to choose? It’s a no-brainer really, even if it ends up costing you slightly more for the privilege, especially if you’re a one or two car family; no-one really wants to be parking their car on the kerb outside or leaving it exposed to the elements on the drive. If you have the space available then integrating a garage makes sound financial sense.
A garage, particularly one bought from Concrete Garages Scotland, gives you round the clock protection of your vehicle such is the level of security and durability it provides against intruders.