The Glasgow property market is known for being diverse and dynamic, offering a range of properties that cater to different lifestyles and budgets. When it comes to buying or selling a property, there are several factors that need to be considered, including the number of rooms, the size of the property, location, and amenities.
However, one question that often arises is whether a garage or an extra room is worth more in terms of adding value to a property. In this article, we will explore this question in depth and provide insights into what Glasgow residents should consider when making this decision.
Brief Overview of the Glasgow Property Market
The Glasgow property market has been experiencing steady growth over the past few years. According to recent data from Zoopla, the average price for a property in Glasgow is around £178,000 (as of August 2021). This makes it an affordable option compared to other major UK cities such as London and Edinburgh.
Glasgow offers a wide range of properties from modern apartments to traditional tenement flats. The city also boasts several up-and-coming areas such as Finnieston and Partick that have seen rapid development in recent years.
What’s Worth More: A Garage or an Extra Room?
When it comes to deciding whether a garage or an extra room is worth more for your Glasgow property investment, there are several factors that need to be considered. A garage offers several advantages such as protection for vehicles from weather and theft and additional storage space.
On the other hand, an extra room can add living space and flexibility in use (e.g., bedroom, office, gym). It’s important to note that what’s worth more will depend on various factors such as location and demand in your area.
For example, if you live in a busy city centre location, a garage may be more valuable due to limited parking availability. Alternatively, if you live in a family-friendly neighbourhood where larger homes are in high demand, an extra room may be more valuable.
The Importance of Considering This Question When Buying or Selling a Property
The decision to add a garage or an extra room can significantly impact the value of your property. It’s important to consider what potential buyers may be looking for when making this decision.
For example, if you’re selling a property in an area where parking is scarce, adding a garage can make your property more attractive to potential buyers. However, it’s also important to consider the cost of adding either option and whether it will provide enough return on investment when it comes time to sell.
The decision between adding a garage or an extra room ultimately depends on several factors such as location and demand. It’s important for Glasgow residents to carefully consider their options before making any decisions that could impact the value of their property.
The Value of a Garage
Advantages of Having a Garage
Garages are highly desired by many homebuyers for various reasons. One of the main advantages of having a garage is that it provides protection for your vehicles from harsh weather conditions and theft.
Scottish winters can be particularly harsh, and having a garage ensures that your car is safe from snow and ice, which can cause damage to its exterior or make it difficult to start in the morning. Furthermore, garages provide additional storage space for household items such as tools, gardening equipment, bicycles, and other personal belongings.
This extra storage space can free up room inside the house and help keep your property tidy. Another advantage of having a garage is that it has the potential to increase the value of your property.
Garages are highly desirable features among homebuyers, especially those with families or multiple cars. Adding a garage or converting an existing one into living space can attract more buyers and fetch higher prices when you decide to sell.
Disadvantages of Having a Garage
Despite their many benefits, garages also have some disadvantages worth considering. One major disadvantage is that they can be costly to build or convert into livable space. The cost depends on several factors such as size, materials used, location, and whether electrical outlets need to be installed.
Moreover, garages have limited flexibility in use compared to extra rooms since homeowners usually intend them solely for vehicle storage purposes. Besides being unable to adapt them easily without significant conversion costs, not every car owner will need this specific feature in their property.
Depending on the size or shape of your vehicle(s), garages may not be suitable for all types therein limiting their usefulness sometimes significantly. ,
if you are looking at buying or selling a Glasgow Property with/to prospective buyers/owners who own cars then including one or more garages in your property facilitates protection from harsh weather and theft, provides additional storage space and even potentially increases the value of your property. However, it is important to be mindful that building or converting a garage can be quite costly, limits flexibility in use compared to extra rooms and may not be suitable for all types of vehicles.
The Value of an Extra Room
When considering purchasing or selling a Glasgow property, it is important to consider the value of an extra room. An extra room can increase the living space in a property and provide potential for increased property value.
It can also provide flexibility in use, serving as a bedroom, office, gym, or any other purpose that suits the buyer’s needs. However, there are also disadvantages to having an extra room that should be considered.
Advantages of having an extra room
An extra room provides increased living space for a family or individuals. This may be particularly important for growing families who need more space as children get older or individuals who require more personal space and privacy. Additionally, an extra room can add value to a property and increase its resale potential if it is well-designed and built to high standards.
Another advantage of having an extra room is the flexibility in use that it provides. The extra space can be utilized as anything from a home office to a workout area or guest suite depending on the buyer’s needs.
Potential to increase property value
If designed properly, an additional room can greatly increase the overall value of a Glasgow property. For example, adding another bedroom may make the house more attractive to families with children who need more sleeping quarters. In addition, converting unused attic or basement space into livable areas such as bedrooms or home theaters can add square footage and appeal to potential buyers when selling your property in Glasgow.
Disadvantages of having an extra room
The cost involved in building or converting an additional room should not be overlooked when considering whether it makes sense for you financially. This cost could include permits from local authorities; materials such as drywall and flooring; electrical work; and hiring contractors.
This could be a financial burden for those who may not have the resources to invest in such a project. Furthermore, an extra room may not be suitable for all buyer’s needs.
For example, if the Glasgow property is located in an area where there is a high demand for garage space rather than extra rooms, it might not be of much value to potential buyers. Additionally, some buyers may prefer outdoor space over additional indoor living spaces, which means investing in an extra room would not generate much return on investment when it comes time to sell.
Comparison between Garage and Extra Room
Location and demand in the area
The location of the property plays a significant role in determining whether a garage or an extra room is worth more. If the property is located in an urban area with limited parking space, then having a garage could be highly desirable and add significant value to the property.
Likewise, if the property is situated in a family-oriented neighborhood, an extra room may be more valuable as it can serve as space for children to play or for guests to stay over. The demand for garages or extra rooms varies depending on the location, so it’s essential to consider this when determining which option is worth more.
Size and quality
The size and quality of both options are critical when considering which one is worth more. A larger garage or an extra room would be considered more valuable than smaller ones since they offer more space.
Additionally, it’s important to ensure that any conversions are done correctly with appropriate permits and materials used by professionals. Poorly done conversions can result in costly repairs down the line, decreasing overall value.
The function of the garage or extra room must also be taken into account when determining their value. A multi-purpose extra room can add value since it can serve as a playroom, home office, guest bedroom, among other uses that suit buyers’ needs. On the other hand, if potential buyers are car enthusiasts who require ample storage space for their vehicles and equipment, then having a garage would be highly desirable.
The verdict: Garage vs Extra Room?
Both garages and extra rooms have their advantages depending on what potential buyers are looking for in terms of functionality and location of their Glasgow property. The value comparison between these two options ultimately depends on various factors such as location demand area-wise; size and quality of the garage or extra room; and the intended function.
In certain locations, garages might be more valuable due to scarcity, while extra rooms may increase value in other areas due to demand for a flexible space. Ultimately, it’s advisable to consult with experts in Glasgow property sales before deciding which option is best for your property.
Regardless of which option is deemed more valuable in your particular case, having either an extra room or a garage can add significant value to your Glasgow property. Properly constructed, these extensions can offer practical benefits that meet buyers’ needs well into the future. It’s essential always to consider location, demand area-wise; size and quality of construction; and intended function when determining what type of extension would work best for you.