Garage Apartment Conversion Pros and ConsLet’s begin with the pros and cons of a garage apartment conversion. It does provide more living space and it can generate additional income. What’s more, it doesn’t require a whole new mortgage, like purchasing rental property (if paid with cash or mostly with cash). Now, those are good things. Not to mention, it will increase the livable square footage, which helps to boost property value.
If you’re looking for a way to enlarge your home without shelling out for a full-scale addition, converting your garage into living space typically adds about 600 square feet (assuming it’s a two-car garage). The good news is that you’ll spend less than if you build an addition. Because a garage already has a foundation, walls, and a roof, using the existing structure typically costs around half what you’d spend for an all-new addition. —SourceHowever, when you do a garage apartment conversion, you lose the garage storage and parking space. Also, you just might be in danger of overbuilding for the neighborhood. Plus, if you can’t cash flow the renovation, that means taking on another debt obligation. Then, there’s the matter of resale. If you plan to sell in the future, understand buyers will see it as a positive or a negative.
Costa Mesa Garage to Apartment Conversion GuideA garage to apartment conversion is a big deal but it’s not at all an impossible task. And, it can serve good purposes, in more ways than one. Here are a few helpful garage to apartment conversion tips and tricks you can use:
- Obtain the necessary permits. Because you’re going to be either adding or modifying plumbing and electrical wiring, you’ll need building permits. Go to the city and/or county to learn about which permits are necessary.
- Remove the garage door. You’ll either have to remove or cover-up the garage door. It’s best to outright remove it and then fill in the space to accommodate another front entry door. Additionally, you’ll need to install new windows to provide natural life.
- Level, then finish the floor. Next, you’ll need to level and finish the garage floor. This is due to the fact that garage floors are built purposely with a slight grade (either to the outside or to the center). So, the floor isn’t level and that’s a necessary change to make it into a living space.
- Add plumbing and electrical wiring. You’ll need to have a licensed plumber and electrician run new water and drain lines, as well as electrical wiring for switches, outlets, and lighting.
- Insulate the walls and hang drywall. Lastly, the insulate the walls and hang drywall. Then, paint to finish the interior space, thereafter.