How Important Is a Garage in Real Estate?

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A glance at local residential real estate listings is bound to show you properties with an attached garage, detached carriage shop or carport. Some will not have any covered parking options at all. Investment and residential properties will have different criteria for how integral a garage is to a property. You will first need to ask yourself if this is a property you will be living in or an investment to rent or flip. 

For Residents

When purchasing a home for yourself, the importance of a garage is subjective to your needs and wants. If you need parking options to keep the snow from piling on your vehicle or want a secure place to store your classic cars, then a garage of some type is preferred. However, you will want to consider more than just the weather and security because some garages will need repairs or not be large enough for your vehicles. Many residents prefer Tharpes garage Tallahassee FL listings with a detached shop for hobby vehicles and an attached space for the family car.

For Investors

Investors looking at real estate properties to rent out will have a similar list of considerations as homeowners. Namely, they will want to determine whether the weather and space will benefit from a garage and if the added expense is worth it. If you can add covered parking, you may have an easier time finding renters and charging higher rent. On the other hand, real estate flippers will want to consider whether garages are standard in the area, how much of a price difference is there, and whether they can add covered parking options after purchase. For many flippers, the benefits of adding a garage to a property outweigh the costs.

Homeowners, renters and flippers will have different considerations on the importance of garages. They will weigh these against the costs of buying a property with a shop or building one. In some climates, having fully-enclosed parking is necessary for the security of your vehicles. A carport or parking pad will work fine and cost less in other areas.