With most of us spending more time at home, our lifestyle is forcing us to adapt and renovate. One of the most popular trends is garage conversions, which involve extending your living space by transforming your garage into much more than storage space for your car, bikes and kids’ toys.
Spring is the perfect time to tackle this DIY project, as it will let you enjoy the warmer weather in your new space, which can then be transitioned into a winter refuge with proper heating and an insulated door and flooring.
Here are some ideas for what you can do to your garage with just a little creativity:
When we first transitioned to virtual school and work, we were so focused on creating spaces to accommodate these activities at home. But now it’s time to find a place for fun. A games room can encourage you and the family to spend time together away from screens and enjoy each other’s company. Stack your favourite board games on a recycled shelf, add a card, foosball or ping pong table and let the games begin.
Some of us have responded to increased isolation by creating art to express ourselves. Whether you’ve taken up painting, crocheting or ceramics, you can create a private area that drives your creativity. You can even make a dark room if you’ve gotten into analog photography. Simply set up your supplies and decorate with your own creations or other artwork that inspires you.
Many of us had a hard time coping when the sports we love went on pause last year. Celebrate the return of more normal seasons by designing a room to enjoy them. Install your big screen TV, some comfortable couches and a fridge or cubby for snacks and recreate the pub at home. You can even add a wet or dry minibar to enjoy a fresh beer or prepare some cocktails.
More of us are working from home and working out at home. A garage could be a great place for your treadmill, stationary bike or by creating a comfortable space for yoga. The space available in a garage can also allow for weights and larger items like a stability ball.
Start with a solid foundation
Whatever you want your garage conversion to be, it’s important to lay the groundwork for a comfortable and cozy spot before you get to decorating. Insulation and flooring are critical if you want to use the space when the weather gets colder.
Garage Remodel Cost
A garage remodel can take many different forms. Some finished garages are transformed into guest bedrooms, game rooms, man caves or even master bathrooms. Others go the traditional route and clean it up to just keep their cars inside. The traditional route is certainly more cost-effective, but after analyzing national garage remodelling costs, the average price to renovate a garage is roughly $10,000.
Finding the right type of financing for your next home improvement project doesn’t need to start and end with your bank, there are several other options to choose from.
Savings – When you already have a mortgage on your property, adding another credit product to your profile may not be the best move, as it can increase the number of payments and interest on your plate each month. So, if you’re planning to make smaller renovations, using up the funds in your savings account may be a better choice.
Credit Cards – Another good solution for smaller improvements, your credit cards are beneficial because they allow you to make minimum payments when you can’t afford your full monthly balances. If you prefer, you can also make more than one payment per month, which will quickly increase your credit score.
Home Equity Line of Credit – Once you’ve built up sufficient home equity, you can apply for a revolving line of credit that’s equal to 65-80% of your property’s total appraisal value. Similar to a credit card, you may borrow from this credit line as needed, then make monthly balance repayments. The better your renovations are, the more equity your home will accumulate, as you’ll be boosting its value along the way.