Palo Alto Low end homes: garage or carport?

Asked by Phil, Castro Valley, CA Mon Feb 28, 2011

Does is make much difference to the price of a low end home in Palo Alto (~$1.2M) if it has a carport instead of a garage?

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Lance King, Agent, San Francisco, CA
Tue Mar 1, 2011
Phil,

All else being equal, a house with a garage will be worth more than a house with a carport - in any neighborhood.

The tricky part comes in when you try to balance asimilar properties, which is what you will assuredly have to do. Most likely there is no reason you would be prevented from converting a carport to a garage as long as you did it with permits, so one of the first things I would do there is talk to a contractor to get a feel for what it will cost to do including permits.

john's comments are correct. Once you have a solid feel on cost - A better house with a carport beats a lesser house with a garage if the cost differential is wide enough.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes
John Souerbry, Agent, Fairfield, CA
Tue Mar 1, 2011
Garage definately raises value and price, though you might consider buying a home with a carport at a lower price and then remodeling to convert/add a garage. A common investment strategy is to discount the value of a property based upon it's lack of good features, then add those features for less then the amount of the discount. Example: house with carport worth $100, but if it had a garage it would be worth $120. Buy the house for $100, negotiate a good price with a contractor to add a garage for $10 total cost. You now paid $110 for a home worth $120. This is standard Donald Trump investment strategy. Also keep in mind that a home with a carport in a good location is still worth more than a home with a garage in a not so good location.
0 votes
Marcy Moyer, Agent, Palo Alto, CA
Tue Mar 1, 2011
Phil,
The garage itself is worth about 20K if it is a 2 car garage on appraisal as Carlos says, but it could be worth more depending on the offer situation. Since the square footage of homes in this price range is so small a garage becomes more important than it would in a larger home. It is needed for storage for many homeowners. so, there are some people who are perfectly willing to buy a 1400 square foot home with a garage, but not if it it is just a carport. So a home with a garage is likely to have more offers than one without and in a multiple offer situation someone often pays more than just the square footage value difference.
Marcy Moyer
DRE 01191194
Web Reference:  http://www.marcymoyer.com
0 votes
Ivy Magsaysay, Agent, Sunnyvale, CA
Mon Feb 28, 2011
HI Phil,

I believe it does. In spite of the fact that fewer people park their car in the garage these days, garage is still a valuable features that a lot of buyers look for over carport. It is a matter of preference, however, some are willing to pay more for the place if the home has a garage.

I hope I answer your question and let me know if there is anything I could assist you with.

Best regards,

Ivy C. Magsaysay
DRE#01400319
Century 21 M&M and Associates
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more