Add a garage to increase value

Adding a garage is probably the most desirable of all the home improvements, according to Mike Greeff, chief executive of Greeff Properties, an affiliate of Christie’s International Real Estate.

“An increase in crime has made on-street parking a lot more risky, so most buyers want homes with secure parking facilities, and garaging your vehicle overnight means you’ll save on insurance premiums,” says Greeff.

“In certain areas where off-street parking is at a premium, a garage offers a definite return on investment. In the city bowl for instance, apartments with garages attract around R150 000 more than those without garages. In this area garages are also rented out for up to R1 000 a month.

“In areas like Lynfrae and Claremont double garages can push prices up by as much as R200 000. At the other end of the scale, in the Clifton, Bantry Bay market, some buyers are prepared to pay up to R2 million more for a home with garages. In many areas of the southern suburbs garages are expected, and many buyers may not even look at a home without one.

“Statistics show that rental properties with garages and storage areas attract higher rentals in all areas than those which offer on-street or exposed parking. Even if tenants don’t have cars and use public transport, there is likely to be someone else who is keen to pay rent to use the garage and storage space,” says Greeff.

“The cost of building a garage doesn’t have to be excessive – all you need is a basic structure with a flat roof and no floor or wall covering. If you spend a little more on tiles and ceilings, the garage can be used as a playroom or entertainment area.”

He says a garage with a flat roof is a good foundation for an upstairs flatlet, which could be an income producer. He says when planning to build a garage, homeowners should bear in mind that garages that allowing direct entry to a home are more convenient, and provide greater security than detached buildings.

“When you build a garage, always allow for storage facilities to ensure that the garage is maintained as a neat and serviceable utility area rather than a dumping ground. A garage adds to the surface area of your home, making your entire property a more valuable commodity,” says Greeff.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 24 Nov 2017
      Demand for secure estate living in Hout Bay has risen sharply in recent years, precipitating a spike in development with estate homes now accounting for 20.24% of the property landscape with the launch of an exclusive new gated development on 26 November adding 20 more units to the existing 1250 estate homes.
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us