Garage apartment conversion — what a great idea. Or is it? If you are considering undertaking a garage apartment conversion, there are some things you should know. We’re talking here about more than just cost (although that alone is probably the biggest factor). You’ll also have to seriously think about what it entails and all the logistics and consequences from altering the primary function of the space.
Let’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 of what you’d spend for an all-new addition. --House Logic.com
However, 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.
Now, we’ll look at the basics of a garage apartment conversion. It’s a really big job, so it’s best to turn it over to a licensed, experienced professional. You’ll need to first learn if you need building permits and obtain them, if necessary. Now, here’s an overview of how to do a garage apartment conversion:
When you need a complete garage cleanout, just phone 800-737-5923 or visit Pro Junk Dispatch.
Filed Under: Company News