Garage Conversions, great idea or false economy?

col_s · Jan 23, 2007 8:39 pm

I'm currently weighing whether a garage conversion is a better way for me to increase my living space vs using that money towards a larger home.

My home curently has 100m2 living space and a double garage that is just below 40m2 by itself.

With the garage conversion a 25m2 main bedroom would be added as well as 13m3 being retained (at the rear of the garage) for storage etc.

I personally would use the new space much better as a room than a garage but is it money down the drain when I come to sell? My house is valued about 300K, the conversaion would cost at least 30K. There is a double driveway at the front. Is a garage conversion the kiss of death for selling?

These are the plans. http://s116.photobucket.com/albums/o12/colin132/?

I'm also taking into account agent's commision and moving costs...

Thanks for all your advice.

Col

Bud977 · Jan 24, 2007 8:53 am

It looks like a new house. Are you just about to move in?

If you're going to stay there for a long time, just do what makes you happy. House prices will do up more than the reno.

It looks like the garage could be retro-fitted by future owners but then they have lost the WIR in an already compact design.

Sorry, but I don't think that new bedroom layout looks integrated with the rest of the house. You have to walk through other (bed)rooms to get to it.

sneakersss · Jan 24, 2007 9:02 am

This is by no means advice but just an opinion - looking from a buyer's perspective.

If I was considering buying your house currently (less modifications) versus the proposed new plan I would prefer the current house plan. And this is for a few reasons:

• I prefer a lock up garage over open/carport parking
• Separate access to the bathroom from Bed 1 is a plus (although I'd prefer an ensuite)
• WIR to Bed 1

In terms of the proposed new plan - I think that one bathroom to share between 3/4 bedrooms is probably quite a heavy burden. I've had some of my real estate acquaintances tell me that bathrooms add value to the house. Also I think that the two door access to the new Bed 1 is a bit much. That is assuming you would use that as a bedroom.

My parents had this similar problem in terms of trying to make more living space in their current house. It's pretty similar to yours in terms of it having 3 bedrooms (main with ensuite), 4th bedroom/study, kitchen, dining, family, bathroom, toilet, laundry, lockup garage. Their renovation saw the 4th bedroom/study removed which then became another living area. They then added extensions by way of a 2nd storey which has a bedroom, bathroom/toilet and another living area. Cost them around the 50k mark and it's really added value to the house.

Just to clarify - the two choices are either a) to renovate or b) to buy another house?

Hope I helped in some way (even if minor) and good luck with whatever you decide to do.

col_s · Jan 24, 2007 10:29 am

Thanks, (the house is 5.5 years old. The photo was old).

Your opinions are much what I was starting to think.

The mods would be great personally but expensive, clunky and not going to add the sort of value that one would hope for. (At the end of the day, its still a small house on a small block)

In Canberra the price difference between a little new house and older large house is about 50k, and 100k for a quite newer large house.

Col