Valuation of garages
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In Tecnitasa Group, we are experts in the valuation of garages, accumulating many years of experience. We offer a personalized and professional service , thanks to our wide network of professionals, with more than 50 offices in Spain.
Garage appraisal is a technical procedure to determine the real value of these auxiliary spaces. Although they may appear to be simple in appearance, their importance in sale and lease transactions is significant, especially in densely populated urban areas where parking is a limited and valuable resource.
An official appraisal accurately reflects the state of the market and the specific characteristics of the garage. This process is essential to ensure compliance with legal regulations, such as Order ECO/805/2003, and facilitates its use in financial or property transactions. If the garage is linked to the dwelling, i.e. it has the same cadastral reference and is located in the same property, its valuation can be included in the overall appraisal of the main property.
What does a garage appraisal consist of?
The appraisal of a garage consists of a detailed evaluation of its value through a technical analysis. This process includes the review of physical characteristics, location, accessibility, legal conditions and market factors. Unlike other types of real estate, garages present particularities that affect their valuation, such as their functionality and relationship with the main dwelling.
The appraisal methodology follows a rigorous approach following the ECO/805/2003 regulation that includes site visits, documentary review, comparative analysis with similar properties in the area and a valuation according to official standards. All this details the aspects valued and justifies the final estimated price.
The main objective is to establish a fair and objective value that allows for equitable transactions, whether for sale, lease or use as financial collateral.
> Factors influencing the valuation of a garage
The value of a garage does not depend solely on its state of preservation, but on a combination of key factors that determine its price in the market. The following are the most relevant ones:
Location of the garage and the urban area
Location is one of the most influential factors in the valuation of a garage. In densely populated urban areas, where parking is scarce, values tend to be significantly higher. Conversely, in residential areas with abundant parking space, the value tends to be lower.
In addition, proximity to essential services such as public transportation, educational centers, hospitals or commercial areas increases the attractiveness of the garage. In some cases, areas in the process of urban revaluation can increase the value of these spaces in the medium term.
It is also relevant to evaluate the urban environment, considering factors such as the safety of the area, traffic density and the existence of local regulations limiting on-street parking.
Accessibility and ease of use
Features that facilitate access to the garage, such as low-slope ramps, automatic doors, interior maneuverability and proximity to main entrances, are key aspects in its assessment. A user-friendly garage is not only more practical, but also reduces the risk of accidents and improves the user experience.
Adequate lighting, visible signage and ergonomic design for maneuvering increase the value of the space, especially in garages located in community or commercial buildings. In addition, the presence of elevators, escalators or direct access to nearby homes or premises adds extra functionality that is reflected in the value.
Garage size and capacity
The dimensions of the garage are fundamental in the appraisal. Ample spaces that allow parking large vehicles and the possibility of installing charging points for electric vehicles add significant value, given the boom of this type of vehicles in the market.
Garages that allow easy maneuvering, such as wide turns and space for convenient door opening, are especially appreciated. In the case of double garages or garages with space for motorcycles and bicycles, their additional utility increases their value.
Services and security
Security measures, such as video surveillance systems, restricted access or reinforced doors, improve the user’s perception, and additional services, such as maintenance, cleaning or insurance against theft and damage, are also factors that positively influence their valuation.
In community garages, the existence of clear rules on the use of parking spaces or the efficient management of common expenses, including services such as biometric identification systems or on-site surveillance in certain exclusive urban areas, can be decisive in the valuation.
Ownership and local regulations
The type of property (detached or community) and compliance with local regulations are crucial aspects for the valuation. For example, a garage that is part of the same cadastral register as the house may influence the joint valuation of the property.
Compliance with current regulations, such as use licenses or urban planning authorizations, is essential to avoid legal problems and guarantee the full utility of the garage. The existence of clear and updated deeds is also valued, as well as the absence of charges or debts linked to the space.
> Why is it important to appraise a garage?
Having a professional garage appraisal performed brings multiple benefits for both homeowners and buyers or investors. The main reasons include:
Knowing the real value of the garage
An official appraisal allows a fair and competitive price to be set in the market, avoiding conflicts arising from inflated or undervalued prices. This is especially important in dynamic markets where price fluctuations are common.
Facilitating the sale and purchase
Having an official appraisal speeds up negotiations and provides confidence to both parties, reducing the possibility of disputes. In addition, an appraisal report provides transparency to the transaction, being a key tool for buyers seeking security in their investment.
Maximizing rental yields
For those who wish to rent their garage, knowing its value is key to setting the right price to attract tenants and ensure profitability. An official appraisal makes it possible to adjust rates according to local demand and market conditions.
Use as collateral in financial transactions
The value of the garage can be used as collateral in loans or credits, making the appraisal an essential tool for economic operations. In these cases, the appraisal must be recent and comply with the requirements demanded by the financial entities in compliance with the current regulation ECO/805/2003.
Inheritance planning and estate partitioning
In inheritance proceedings, an accurate appraisal facilitates the equitable division of the estate, avoiding conflicts between heirs. In addition, it allows a fair calculation of the value of the garage in the set of assets to be distributed.
Benefits of hiring a professional garage valuation service
The experience and knowledge of appraisal experts guarantee an official and professional valuation under current market conditions. Among the main advantages are the following:
Appraisals adjusted to the current local demand
Tecnitasa, an appraisal company approved by the Bank of Spain, analyzes the particularities of the market in each area thanks to its capillarity with more than 40 offices in the national territory. This includes the study of local trends and factors that may influence the future value of the garage.
Experience in ancillary and commercial properties
Our appraisal specialists understand the differences between garages and other properties, providing rigorous and accurate valuations. In addition, professionally generated technical reports include projections on the evolution of the garage’s value, which is especially useful for investors.
Discover our residential real estate appraisal services
In addition to garages, Tecnitasa Group offers appraisals of all types of residential properties. Its specialist team
applies specific criteria for each type of property, adapting to the particular needs of clients.
Latest news on the residential market
Check our blog for up-to-date news and specialized articles on the residential real estate sector. We offer information on trends, market changes, regulations and advice for owners and investors in this segment.
Tecnitasa Group has a wide network of more than 50 offices, which allows it to take on projects thanks to its expert team in residential real estate appraisals, ensuring accurate reports adapted to each market.
Frequently asked questions about garage valuation
What documents are required to perform a garage appraisal?
It is essential to have the nota simple or cadastral documentation. A plan of the garage or additional information related to its use and characteristics may also be required.
Can I appraise a garage to rent it and know its profitability?
Yes, an official appraisal makes it possible to establish a competitive rental price in line with market demand. This is especially useful in areas where garage rentals are in high demand.
How much does a professional garage appraisal cost?
The cost of the appraisal varies according to the location and characteristics of the garage. The price includes the visit of the technician, the preparation of the report and the market analysis.
