Thinking about converting your garage into extra living space? Whether you’re dreaming of a home office, spare bedroom, or even a gym, turning your garage into something more useful can be attractive. But how much will it cost – and how can you afford it?
In this blog, we’ll break down the typical costs, how to plan your budget, and the different ways you could fund the work.
What are the average costs of garage conversions?
On average, a basic garage conversion in the UK could cost anywhere from £5,000 to £20,000. However, the final price really depends on the condition of your existing garage and the kind of space you’re hoping to create.
A simple transformation into a habitable room will generally be more affordable, while adding features like plumbing, a kitchen, or an en-suite can increase the cost. Larger projects, such as converting a double or detached garage, tend to be at the higher end of the scale.
Every project is different, and location, materials, and builder costs can all make a difference.
What can affect the total cost?
There are a few main things that can impact your overall spend:
- Condition of your current garage – Is it insulated? Does it need a new roof or floor?
- What you're converting it into – A bedroom is cheaper than a full kitchen or bathroom.
- Planning and regulations – Most garage conversions don’t need planning permission, but you will need to meet building regulations.
- Finishes and extras – Things like flooring, lighting, heating, and windows all add to the final total.
How to budget for a garage conversion
Like any home improvement project, it’s important to plan ahead to make sure you don’t overspend on your project.
Here are a few simple steps to help:
- Get quotes from builders – Don’t rely on guesswork. Make sure you speak to a few builders to get a clear view of the costs.
- Build in a buffer – Prices can go up if unexpected issues come up. Therefore, you should always aim to set aside some money as a contingency.
- Prioritise your spend – If you’re on a tighter budget, focus on getting the essentials right first and save the high-end finishes for later. The entire project doesn’t need to be completed all at once.
How can you pay for it?
If you don’t have the savings to pay for the project upfront, there are several ways you may be able to fund a garage conversion:
- Personal loan – Unsecured borrowing might be an option for smaller conversions, though interest rates can be higher.
- Further advance – Some lenders will let you borrow more on your current mortgage for home improvements, if you meet their criteria.
- Remortgaging – You might be able to borrow more by switching to a new mortgage deal, especially if your home has gone up in value.
- Second charge mortgage – You may be able to borrow more against your home without changing your current mortgage. This is often called a secured loan, and it can be a useful option if you’d prefer not to remortgage or if getting other types of finance has been difficult.
Each option comes with its pros and cons, so it is a good idea to make sure you research carefully to make the right decision for you. What’s best for you will depend on your circumstances and how much you want to borrow.
What to think about before going ahead
Before you start making plans, ask yourself:
- Can I afford the repayments? Look at your monthly budget and be realistic about what you can afford.
- Will this add value to my home? A well-done conversion can increase your property’s worth, but not always by as much as you spend.
- Is it the right time? Consider things like job security, interest rates, and your long-term plans.
Summary
A garage conversion can be a great way to add space, and potentially value, to your home. But like any big project, it pays to be prepared. Make sure you understand the costs, plan your budget carefully, and explore your financing options to find the right fit for you.
Loans are secured against property - Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
