When it comes to rental property, is a two-car or one-car garage better?
When I work with investors, they’re often looking to buy rental homes, so naturally, we talk about parking. Most homes in San Antonio have two-car garages, so should you buy a rental property with a one-car garage?
A home with a one-car garage wouldn’t be the end of the world, but it is preferential to buy a rental home with a two-car garage. One-car garages are challenging for families and their neighborhoods to keep their homes' value. People tend to flock toward one-car garage homes because they’re generally less expensive.
I would prefer a neighborhood that’s going to appreciate rather than stagnate.
People who live in one-car garage homes tend to live there for shorter periods of time than with two-car garages. After all, people accumulate stuff over time, and two-car garages simply offer more space for growing families. Areas with more one-car garages tend to attract more transient folk, more renters, and people who might bring down the quality of the neighborhood.
Ultimately, I would prefer a neighborhood that’s going to appreciate rather than stagnate, and two-car garages present an opportunity to appreciate your investment so that you’ll make more money when you sell it.
If you have any questions about buying rental homes based on garage capacity or anything else to do with real estate, don’t hesitate to give us a call or send an email. We’d love to help you.