how much value does three garages add to a property appraisal?

Asked by Midclass, South Boston, MA Fri Oct 2, 2009

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9
Dallas Texas, Agent, Dallas, TN
Sat Oct 3, 2009
Depends on area, nice addition to a home have extra storage space. However many consider could be a waste of space rather have interior of home.

Your buyers agent can review all stat's with you.

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1 vote
Bill Eckler, Agent, Venice, FL
Fri Oct 2, 2009
The value of over developed property is often very difficult to predict. It sometimes reaches a point when utility becomes a distant feature and the development becomes a detractor. The results of which can be marketing the property to a very small market niche that can have a negative impact on sale price.
1 vote
MaryAnn Riel, Agent, Sutton, MA
Fri Apr 24, 2015
The value of a garage would depend on condition and location. The cost of new construction is one of the methods an appraiser will utilize to establish value and of course the value of the land varies greatly!
0 votes
garypuntman, , Los Angeles, CA
Mon Dec 1, 2014
I'm not sure how much value this will add. I don't think it will be a whole ton though. I think that it might be more of a selling point for some people though. It's very convenient to have a three door garage. http://www.alphaindustries.com.au/sheds-garages.html
0 votes
Mark Leach, Home Buyer, Pine Bluff, AR
Fri Nov 7, 2014
I just purchased a home with multiple garage doors, and none of them have a garage motor mounted, it is really kind of strange actually. The home was a short sale, and it was an incredible deal, which is why we bought it. I am just looking for a good company that can install them for me.
Mark Leach | http://www.carlaneauto.ca
0 votes
Mikel DeFran…, Agent, Canton, MA
Sun Nov 25, 2012
In Southie... a LOT! depends on the area, other parking options, how the comparables stack up ( i.e. if one has a 2 Car Garage it won't be as large of a difference as compared with a home with no garage ) .
0 votes
I don't think having extra garages will make your property go up in value. You should try talking to a real estate agent to confirm that, but I'm pretty sure I'm right. I think if you put more storage shelves and space in the garage it might help the value. http://www.toplinegarages.com.au
Flag Fri Jan 23, 2015
David Laven, Agent, Boston, MA
Mon Nov 12, 2012
This web reference should give you a good idea!
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sat Oct 3, 2009
It all depends on the other homes in the area. If they all have 3 car garages, like many do in some of the higher end areas I cover, then it is an "expected" amenity, and appraisers will add value accordingly.

If it is in a neighborhood that doesn't call for such an upgrade, it will add less value.

Check with an appraiser in your area.
0 votes
Greer Swiston, Agent, Newton, MA
Fri Oct 2, 2009
You probably want an appraiser to answer your question.

As a Realtor, I have had the experience that it truly varies from community to community. It depends on how much garages are valued in the neighborhood. Some time it makes very little difference, some times it makes a world of difference.
Web Reference:  http://www.commonmoves.com
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