With many Americans working remotely and spending more time at home these days, a lot of people are starting to realize that they could use more space in their homes.
A convenient and relatively low-cost way of doing so is by finishing a garage and even converting it into a living space. Is this worth doing, though? Does a finished garage add value to your home?
First, we’ll need to look at exactly what a finished garage is and how it is different from a converted garage. Then we will take a look at the benefits as well as the costs of a project like this.
If you’re wondering if finishing your garage is the right option for you, stick with us while we take a deep dive into everything you need to know.
What Is a Finished Garage?
A finished garage is a garage that has drywall covering the gaps and beams on the walls and ceilings. Some finished garages might have electrical work in insulation, while others might not.
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When people refer to converted garages, it means that the garage has been turned into a living space. This can be a great way to make a playroom for your family, add a guest room, put in a bar space, or add a relaxing living room. People will also use the space to make man caves, home gyms, or offices.
There are a lot of creative ways you can convert your garage. You might turn it into a home cinema or use it as a studio or workshop.
What Are the Benefits of Finishing a Garage?
One of the main benefits of finishing a garage is increasing the amount of usable space you have in your home. Depending on where you live, insulating your garage could make the difference between it being a freezing and uninhabitable space in the winter to a cozy extra room or workspace all year round.
Does a finished garage add value to your home? The answer to this question depends on whether you are talking about a fully converted garage or simply a finished garage space.
Finishing a garage for living space where you remove the garage door can be great for your own personal needs but is not good for the value of your home. Having a functional garage is important to a lot of buyers and removing this feature will likely decrease the value of your home.
That being said, finishing a garage that can still function as a garage won’t decrease the value of your home. However, it is not likely to add much value to your home either.
While it might not add value to your home, it can be appealing to potential buyers. This might result in your home selling faster than it would otherwise if buyers are attracted to your finished garage.
One of the benefits of converting your garage is that it can be one of the most affordable ways and one of the fastest ways to add more living space to your house. Since there is already a foundation, roofs, and walls, you do not have to start from the ground up.
When garage conversions are well-planned, they can often add a new room that blends seamlessly into the rest of the home. Because of where garages are most commonly located, they can be great places for extended luxury kitchens or large family rooms.
When you insulate your garage and continue using it as a garage, it can become a much more comfortable place to work year-round. It can also help to protect your personal items from changes in temperature and humidity.
Another benefit of finishing a garage is that it can reduce the amount of noise that neighbors hear coming out of your space. This alone can make it worth doing if your teenagers tend to have noisy band practice in there. It also means that the garage space will be quieter, so you can do what you’re doing in peace without being as bothered by the noise of neighbors.
How Much Does It Cost to Finish a Garage?
How much it costs to finish your garage will depend on a number of different factors. Many people who finished their garages tend to build in storage and add resurface flooring in addition to adding textured and painted drywall. A project of the sites will cost you somewhere around $10,000, depending on which extras you choose to go with.
If you are planning on converting your garage into a functional living space, this will cost more. When compared with the cost of adding a structural addition to your home, however, converting a garage is a bargain. The average cost of an addition is roughly $45,000 while the average cost of converting a garage is roughly $13,000.
If you are going to be adding a bathroom or a kitchen to your garage to make it a fully functional living space, this will obviously cost more.
Whether or not it makes financial sense for you to finish or convert your garage is a matter only you can decide. While it may not add any value to finish your garage and could in fact detract some value if you remove the garage door and transform it into a living space, those aren’t the only factors to consider.
If your family is growing and needs more room, you might determine that converting your garage space is the most cost-effective solution. Also, if you are planning on living in this home for the rest of your lives, whether or not it changes the value of your home becomes less important.
Finishing a Garage: Is It the Right Choice For You?
As you can see, the best way to finish a garage or whether to finish a garage at all is going to depend on what’s important to you. If you are getting your house ready to list on the market, it likely isn’t worth the cost. If you’re looking to create some more living space in the home you plan on staying in for a long time, though, it might be a great, affordable option.
Did you find this article on finishing a garage interesting? If so, be sure to check out the rest of our blog for more fascinating and informative content!