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.
When all is considered, converting your garage into [an apartment] is often cheaper than adding a room onto your home because there are no foundational changes or heavy construction involved. And, depending on the building codes in your local area, any additions to your house might need a costly foundation to be built. If your garage is already up-to-code, you can bypass these costs. —Do It Yourself.comHowever, 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.
Top Homosassa Garage Apartment Conversion Tips to KnowNow, 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:
- Replace the garage door. You’ll need to remove the garage door and close in the space to accomodate a single or double entry door and a window. Or, you can use the existing entryway door on the side and replace the garage door with windows.
- Level and finish the floor. Next, you’ll need to level and finish the garage floor. This is due 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.
- Expand the plumbing and electric. In addition, you’ll need to install more electrical outlets, lighting, a ceiling fan, as well as build-in bathroom and kitchen spaces.
- Insulate the walls and hang drywall. Lastly, the insulate the walls and hang drywall. Then, paint to finish the interior space, thereafter.