by Laurie M Nichols
If you’re outgrowing the current square footage of your home, look to your garage as a possible source of expansion.
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Kid Space
The reality is, not all homes have a spare room for the kids to play or hang out in. But if you have a garage, it can be an excellent opportunity to use that space in a new way.
Turning it into a dedicated space for young children or teens offers lots of benefits. For younger children, a separate play room consolidates toys, games and activities to one area rather than all over the house or in the bedrooms. The latter makes sleep more difficult.
For older children and teens, a space of their own offers a semi-independent place to hang out with friends, while parents supervise nearby. For young children and teens, it can foster autonomy and encourage screen-free activities. Converting a garage into a kid’s space can enhance the functionality and harmony of the home.
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Home Office
Converting a garage into a home office offers financial, health and productivity benefits.
A separate work space reduces distractions and interruptions, letting you to focus and get more done. It also offers a quiet and more professional space for virtual meetings and phone calls. Best of all, it creates a clear boundary between work and home life, adding to a healthier work-life balance.
There are also financial benefits. Eliminating a lengthy daily commute saves time and money. You also may be eligible for an annual tax deduction for the maintenance and operating costs of a home office if it meets certain requirements. Check with a tax advisor for specifics.
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In-Law Suite
An in-law suite, or accessory dwelling unit (ADU), is a more expensive and involved project, but can be a great investment for your family.
In large cities, homes with ADU are priced 35% higher on average than those without one. However, this can still be a low return on investment (ROI) due to construction costs. A garage conversion, on the other hand, uses fewer building materials for a lower initial cost.
Most families don’t build an ADU for financial gain, but rather to help aging parents live independently while close to family support. In 2021, 26% of American households were multigenerational, with one-third citing caregiving as a major reason for their living arrangement.
This project requires permits and zoning approval, so start with your local municipal board for guidance.
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Rental Space
Converting a garage into rental space can generate a fantastic stream of passive income to offset mortgage or maintenance costs. Short-term rentals are projected to earn an average of $278.19 per day in 2023. and the industry is expected to grow more than 19% annually from 2022 to 2032.
Transforming your garage into a mini-Airbnb can be a lucrative venture, but it’s also costly and complicated. A private rental unit with a kitchen and bathroom will cost more than just a rental bedroom, but the financial return will also be much higher. Do the arithmetic and determine which makes more financial sense for your situation.
Short-term rental laws are also constantly changing, so make sure to read up on local regulations and restrictions. Then check with your municipality for zoning and permit requirements before making any changes to your garage.
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Art Studio
Here’s a way to greatly benefit your overall health and well-being. A study from the Society of Behavioral Medicine suggests people who take part in creative activities have fewer negative emotions and are less stressed.
In a home studio, you can pursue artistic hobbies like painting, photography, pottery or crafts. If you’re more musical, create a practice and performance space for your instruments. The isolation from the main living area minimizes disturbances, allowing for deeper concentration and expression.
It also creates an area to store and organize your art supplies or instruments, making it a great idea if you’re looking for an easier way to keep your home clean and organized.
