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How much does an off road parking space add to value of home?

FY2 0GF. A close with premium for parking space, lots of cars on the road. We already have Qty 1 off road parking with a lawned space approx 15ft by 8ft. If we were to professionally tarmac the lawned space to add a second off road parking space, how much would this potentially increase the property value?

Asked on May 3 2012, Home Improvement in Blackpool | Report content

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  • I would have thought it would add a few thousand pounds to the value, the desirability is greater for a property with parking that is for sure. It will increase saleability, but I don't know how much value in terms of money will be added. An estate agent can better advise you with that question. Parking comes at such a premium these days, with a lot of households owning 2-3 cars. So extra parking has to increase value.

    Answered on May 4 2012, Report content
  • I don't feel this would add a great deal of value as you already have off street parking but could make it more saleable to the right buyer. There is a possibility that potential buyers may be put off by the lack of garden to the front so it is all down to the individual buyer.

    Answered on Aug 8 2012, Report content

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