How much more is a property worth with a 4 car attached garage instead of a 2 car attached garage?

Asked by Rachel Landers, Plano, TX Sun May 4, 2008

If the two houses are equal in every other way, what is a typical value for a 4 car garage over a 2 car garage?

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7
Alan Wynn, , Irving, TX
Sun May 4, 2008
This is not that complicated. Here is how an appraiser would look at it...

Home Value / Garage Value (per car)
$60K - $80K / $1,500 to $3,000
$80K - $100K / $1,500 to $3,000
$100K - $120K / $2,500 to $5,000
$120K - $150K / $2,500 to $5,000
$150K - $200K / $2,500 to $5,000
$200K - $300K / $3,500 to $7,000
$300K - $500K / $5,000 to $10,000
$500K+ / $7,500 to $15,000+

You can use these numbers as a guideline. For a home in an area where 4 car garages are typical, the higher range numbers would apply. For a home in an area where 4 car garages are NOT typical or expected, the lower range numbers would apply. Hope this helps.

If you need any additional info, please feel free to email or call.

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1 vote
T.E. & Naima…, Agent, Dallas, TX
Sun May 4, 2008
Hello Rachel,

In east or west Plano, the additional value would be around 7500.

Naima
Web Reference:  http://www.sumnerrealty.com
1 vote
Bruce Lynn, Agent, Coppell, TX
Sun May 4, 2008
It depends on the type of house, price range, and a few other factors, but as a quick rule of thumb in Plano I would add about $7000-$10000 per garage. That's the quick answer. Alan has the best more detailed answer.
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0 votes
Dallas Texas, Agent, Dallas, TN
Sun May 4, 2008
SEE NOTES BELOW FOR STAT'S for MLS sold in the past 6 months

There is not typical value for the difference however a 4 car garage based on the comp's in the area will be a house that is most likely a larger home than a home with a 2 car garage, most homes in luxury communities are built with 3 car garages and 2 car garage is perhaps in most instances an older home. However a 4 car garage is an exception to the rule in the Plano area,

12 homes sold in Plano range from $287,500 to $3,300,000 the average sq. ft $194.84 sq. ft. built from 1979 to 2004 ...these comps are for the entire Plano area, including E Plano

999 homes sold in Plano the sample for CMA's were from $237,500 up to $1,060,000 includes entire Plano including E. Plano average sq. ft. is $98.98 sq. ft.

I would need more info. obviously 4 car garage home is a considered a luxury home in the high $700K +

If I can be of any further assistance please contact me
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Lynn
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0 votes
Jackie Rankin, Agent, Fort Worth, TX
Sun May 4, 2008
Gene,

The appraised value of your home will definitely be worth more if you have a larger garage in this area. I'm not sure about your area in WA. As far as buyers asking for 4 car garages, it happens all the time. Sometimes it is because of the scenario that you outlined in your post, and sometimes they have children that are of driving age, and have cars, etc.. As far as adding $15,000 to the asking price of Rachel's property, that's really something an agent should determine for her in that area. In my area, which is West of Plano, we would only add $4000-$8000 more for the extra two garage spaces. However, a Plano agent would know her area much better than myself and could determine the selling price.
0 votes
Richard Carl…, , Dallas North Estates, Plano, TX
Sun May 4, 2008
It would depend on the price range your home is in. A 3 car garage is very desirable for a family with teenage children, as they will begin to drive, and can park that car in the garage instead of on the street, or behind on in the garage. A 4 car garage would normally be seen in higher end homes, $400K and up. A good appraiser would probably give you $2000 to $3000 per car.
I hope this was helpful. If you would like a market analysis on your home with the added garage space, feel free to contact us at carlucci@kw.com.
0 votes
Jackie Rankin, Agent, Fort Worth, TX
Sun May 4, 2008
Rachel,

It kind of depends on the area that you are in as well as the price range that you are in. A typical home, let's just say $150-$200,000 range would be approximately an extra $4000 (2000 per car). However, if the value of the home is quite a bit more then the value of the garage goes up as well. So, there really isn't a set amount. A good real estate agent in your area should be able to give you those answers. Hope that helps a little!! Have a great Sunday!!
0 votes
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