Faced with a difficult property market and little relief in sight on mortgage costs, a growing number of UK families are opting to stay where they are and focus their energy on getting more from their existing homes.
Rightmove data has revealed that asking prices suffered their worst November performance in more than a decade, falling by 1.8% in a single month. The figures also show that more than a third of sellers have had to reduce their prices, reflecting how cautious buyers have become.
Rather than brave these conditions, many homeowners are directing their attention towards home improvement, and garage conversions in particular are attracting considerable interest as a cost-effective way of creating more usable space.
Pro Assist Property Services, a specialist in garage conversions, has experienced a clear rise in the number of homeowners seeking to convert their garages into rooms that work for how they live today.
“Most people don’t even use their garages for parking anymore,” said Asa Herbert of Pro Assist Property Services. “Now, that space is being turned into something useful, a home office, a gym, or an extra bedroom.”
Pro Assist indicates that a conversion can be undertaken from £10,000 upwards and completed in as few as two weeks.
The company highlights that a well-planned and properly executed conversion has the potential to add up to 10% to a property’s market value, and this benefit is most pronounced in areas where parking provision matters less to prospective buyers. Demand for these projects began climbing during the pandemic, largely on the back of the need for home offices, but the priorities of those commissioning conversions have since shifted.
“Now, people want extra bedrooms, annexes, or a quiet space for relatives,” said Herbert. “A garage conversion is one of the easiest ways to get that room without moving, and in most cases, you don’t even need planning permission.”
Caution is still advised, however. Garages present specific challenges when adapted for living, and without sufficient insulation and ventilation, issues with damp and cold can follow. “A proper survey and professional contractor make all the difference,” Herbert added.
