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will adding storage space add value?

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  • will adding storage space add value?

    Hi,

    Im trying to decide whether creating a room under my terrace would be worthwhile. The room would be about the size of single garage but due to its location it could only be accessed by a single door, maybe a double door at a push. The cost of creating this room would be about £3000 although that cost could rise quiet a bit as there is a possibilty that the house might need underpinning to do this. Unlikely, but possible.

    My question is would you expect to see any greater gain than 3k from it? I have already converted the garage into a studio apartment for myself as I am running the main house as a holiday let so the house now has no other storage. Personally I dont need it but my guess is that the who ever buys this house when its completed will keep the studio to rent out and would need somewhere for bikes, tools, junk etc for the main house.

    Thankyou for reading this and I hope some of you will be able to help me make my decision.

  • #2
    Re: will adding storage space add value?

    If you don't need it then don't waste the money, if buyer needs space then you can always point out that option.

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    • #3
      Re: will adding storage space add value?

      I think the simple answer is, no, storage space doesn't add value.

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      • #4
        Re: will adding storage space add value?

        You have got to add an extra bedroom to add extra value to a home in my opinion. Look at perhaps a loft conversion with added storage space under the eaves.
        Property developers

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        • #5
          Re: will adding storage space add value?

          how about a garage with the wall insulation of a house, so if need be you can change the garage into a lounge for example?
          Callaways Estate and Letting Agents Brighton and Hove
          Please Follow me on Twitter HERE

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          • #6
            Re: will adding storage space add value?

            just a thought...
            Callaways Estate and Letting Agents Brighton and Hove
            Please Follow me on Twitter HERE

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            • #7
              Re: will adding storage space add value?

              I personally think that the idea is not worthwhile or cost-effective. Maybe you could board out your loft and put power up there and a secure garden shed for the bikes?

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