News Corp Australia
First published 7 Aug 2024, 12:00am
Homeowners are turning to renovations to combat the nationwide housing crisis, with tradies seeing a surprising new room trending as many cash in.
While cosmetic renovations such as kitchen and bathroom upgrades transform the interior aesthetics of a home, it is the conversion of a rarely thought-of room that is seeing property values increase substantially by around $200,000.
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The housing crisis has seen renovations pick up again, with garage conversions growing in popularity.
Tradies Network founder Dennis Boca said garages are a growing renovation trend, as families choose to leave their cars in the driveway in order to create a teenager’s retreat, a new home office or a dual living arrangement for the extended family.
With the average garage in Australia offering about 40 square metres of space, there was enough room for a bedroom, ensuite, walk-in wardrobe and an extra study room – with no council permits required.
Designer home garage conversion by Lisa Burdus Interior Design created this guest suite.
The network has seen a sharp rise in project numbers in the past 12 months, he said, with around 10 per cent of its renovations in the Greater Brisbane and Gold Coast region being garage conversions.
And that figure is set to rise with Mr Boca seeing demand for garage conversions doubling in the last three to six months.
Mr Boca said Tradies Network was forced to turn away between 40 to 60 projects on the Sunshine Coast alone already.
A car port can be converted into an elegant living or dining space or any other room you might want to transform it into without council approval.
Depending on the size and complexity of the renovation, a garage conversion can cost between $100,000 and $250,000, with an estimated completion time frame of between four and 12 weeks.
Mr Boca said despite initial costs borne for a home renovation, homeowners would see a return on their investment.
“In my experience if you’re turning a three-bedroom-one bathroom home into a four-bedroom-two bathroom home, you’re going to add close to $200,000 in value,” he said.
A garage conversion in an older home in Queensland turned parking space into a teen retreat. Picture: Jono Searle
“Which means even if you spend $200,000 on that renovation, you’re going to get that value back.”
Mr Boca said the numbers saw him decide to renovate his family home rather than sell it as it was the practical thing to do.
“Prices have gone up in conjunction with the cost of renovating, so it’s at least not counterintuitive.”
“You’re adding value,” he said, “so spending money to make money.”
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