With the costs of homes rising along with the cost of tuition and debt ratios, many people are choosing to stay in their homes rather than move around when possible. However, if you have started to feel cramped in your starter home, your garage starts to look pretty alluring in terms of extra space and potential. You could turn it into an office, a workout room, an apartment or even an extra bedroom. Before you start pulling out the measuring tape and deciding where your curtains will go, let’s look at some of the issues you’ll need to be aware of before you embark on a garage renovation.
First, just because you are working within your home’s footprint doesn’t mean that the renovation won’t be costly, especially if you are looking at things like wiring, plumbing, or raising the floor to meet the foundation of the home. You’ll have to weigh the cost of the garage renovation to see if it is worth the time and expense.
Second, if you continue with the garage renovation, is there somewhere else for you to park? When there is ample driveway space and street parking options, garage renovations can actually increase the value of your home. Without any parking options though, you might regret getting rid of that garage!
Finally, keep in mind that quality and professional work will cost you. A quality garage renovation can cost anywhere from $10-$20k, depending on what garage renovations you decide to take on. If you have questions about cost benefits of garage renovations or want to make your existing garage more usable, give us a call here at Chad Goodin Signature Homes today.