Let's start with the size of your garage conversion. The majority of single garage conversions cost between PS7000 and PS20,000, with an average cost of roughly PS13,500. A double garage conversion will cost between PS15,000 to PS55,000, depending on whether it is integrated, attached, or detached. The average price for a double garage conversion is about PS38,000.
Now let's talk about what affects the cost of your garage conversion. The first thing to understand is that the more expensive your garages are, the more you can save by converting them into rooms with lower-cost materials. For example, if one of your garages costs $100,000 and the other $50,000 then you could expect the conversion to cost around $200,000. However, if both garages were only worth $10,000 then the conversion would only cost $20,000.
Another factor affecting the cost of your garage conversion is the location of these buildings. If you live in an area where the rental market is strong then you should be able to find tenants for each room which will help reduce your overall costs. Areas where the rental market is weak may cause you to have trouble finding tenants which will increase the cost of your project. For example, if you plan to rent out both rooms of your double garage conversion then you should look at areas where there is a strong rental market because this will help bring in money now which you can use to pay for your conversion later.
According to HomeAdvisor, the typical cost of a garage conversion is between $6,000 and $19,000. The final cost will be determined by the size of your garage, the sort of room you are building, and the quantity of expert contracting assistance you require. You can expect to spend anywhere from $20,000 to $50,000 on this project.
The average price for a garage conversion is $31,835. The national median sales price for a single-family home in May 2015 was $157,900. Based on these figures, a garage conversion costs about half as much as what the National Association of Realtors estimates the median sale price of a single family home to be.
The cost of a garage conversion depends on how large you want the room to be. If money is no object, then build yourself a house. If you cannot afford a premium price tag, then consider spending less on a garage conversion. You should also consider the type of room you need. A living room requires different amenities than a laundry room. Each one will vary in cost depending on your specific needs. Finally, look at the amount of work that is required. If you are not comfortable doing some construction work, then hiring professionals for tasks such as framing and drywalling is recommended.
A basic integrated garage conversion will set you back roughly PS8,000 (or PS400-640/m2). The good news is that this is less than the value you could add to your house by converting the garage, making this a project that truly makes financial sense. The bad news is that there's a lot more to it than just adding walls and flooring. There are structural issues with existing garages that need to be taken into consideration when planning your renovation.
The first thing you'll need to decide is what kind of storage you want in your new annex. This can either be a standard door frame with internal framing or full enclosure with concrete flooring. Enclosures are usually cheaper to install but take up more space and are not as easy to heat or cool. Door frames can be added on to expand your storage capacity later if needed.
You'll also need to figure out how you plan to use the space. If you intend to use the annex only as a place to store extra furniture or equipment then a door frame would be sufficient. However, if you want the annex to function as a true second home or bedroom then an enclosure is required so that you can have better insulation and ventilation.
Finally, consider the layout of your property. If you already have a garage and plan to keep it that way then make sure the new annex is compatible with this design.