How to Market a House Without a Garage https://magazine.realtor
With the increase in ride-sharing and walkable developments, garages may not be at the top of every buyer’s wish list, and some homes are constructed without them. Know how to make a garageless listing appeal to the widest possible audience. Study the neighborhood to find out how prevalent garages are. In areas where garages are less common, salespeople can play up that fact. Few homes in the two historic areas near downtown Salem, Mass., have garages, and most lots are too small to build them, says Ryan Guilmartin, SRS, salesman with Keller Williams Realty in nearby Beverly. “About 95 percent of the houses don’t have garages, and the few that do are much more expensive, so we emphasize the savings,” he says. Price the listing competitively. Be sure to compare apples to apples—if you look at comparable houses without garages, you’ll get a lower listing price and appraised value than those with garages. How much less depends on the importance of this feature in the area. In Roach’s Sarasota neighborhood, most homes are built with garages since buyers want to protect their cars from the sun and oxidizing salt, have a place to store their beach gear, and protect their possessions from vandals if they head north for an extended period. Therefore, she says the absence of a garage can decrease the appraised value by as much as 20 percent. But those who’ve been priced out of certain neighborhoods may find the savings appealing.
Research street, lot, and covered parking. Some communities have strict street parking rules, require permits, or limit parking hours. Sometimes permits are available free or at a reduced cost for residents, another important fact to nail down. In the suburban township of Millburn, N.J., cars aren’t allowed on a street overnight, says Coldwell Banker Residential sales representative Stephanie Mallios. In Roach’s area, streets are narrow, making parking difficult. Nearby public lots and garages are often an option but charge monthly or yearly, another fact to have clarified. Emphasize other, non-vehicular storage options. Many buyers put almost as much stock in a garage for storing possessions as they do for parking their cars. If a seller’s home doesn’t have a garage, ask what other storage exists within the house—in a basement, attic, or closets—and tout these in your marketing. For houses that don’t have impressive storage options, you may want to research nearby off-site storage facilities. Find out about other transportation options. Some buyers happily hop on a bus or take a subway, especially if a stop is near their home. Others will rent a Zipcar or take an Uber, Lyft, or taxi. Make sure you fully understand what’s available on a regular basis and the average costs to use each service to help buyers gauge all expenses versus owning, insuring, and parking their own car. And just because the neighborhood is dense doesn’t mean you should assume these options exist. Downtown Albuquerque may be walkable, but Beecher says there are few car-sharing options and a lack of reliable public transportation.
Find out if it’s possible to construct a garage. This may be the most appealing scenario for buyers who value parking their own car in an enclosed structure. Obtain setback, variance, and permit requirements from the local building and planning department so you can help buyers estimate what kind of garage can be built, if any, and how long the approval process takes. In her downtown Albuquerque area, Beecher says small one-car garages can be constructed in alleys behind the houses for approximately $10,000 to $12,000, typically taking 30 to 45 days to complete, depending how busy the city and contractors are with other projects.
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