Transform Your Garage Into a Home Office Area

Suzie Wilson

If you work remotely or run a business out of your home, you know how important it is to have the right work area. It’s almost impossible to set any kind of boundaries between work and life, without one. If you don’t have a room in your house that can be used as a home office space, there are other alternatives out there, including turning your garage into an office. Because the garage is set apart from the central living spaces in your house, it can work especially well for those who need a little more privacy or quiet for their work.

Structural considerations

Before starting your renovations, assess the structure itself and see if it is sound. There’s no point in putting a lot of cosmetic work into a garage that simply isn’t safe for working. Also, make sure it is suited to be made into an office, and figure out what changes will need to be made. For instance, garages tend to be less well insulated than homes, so if you want to use your garage as a year-round workspace, you might need to add insulation, and possibly an extra layer of drywall. The garage door may let a lot of cold or hot air in, so consider replacing it with something more solid, or having a wall installed.

Do a major declutter

For many people, garages double as storage spaces. this often means a lot of random objects and items end up there. Whether it’s broken lawn furniture you meant to fix, half-empty paint buckets, or your kids’ old sports equipment, there might be a lot of stuff in your garage just taking up space and gathering dust. So before you start renovating, you’ll probably have to tidy up, throw stuff out, give stuff away, and clean up.

Practical considerations

Making a garage into a workspace that is genuinely livable may take some other alterations too. A concrete floor may be chilly and uncomfortable, so you may want to add some tile or laminate. Think about how to update the lighting to something warm and inviting, to make the space look less industrial. Also, consider details like ventilation, heating, and cooling. If there isn’t easy access to a bathroom from your garage area, you may need to extend plumbing for added convenience. You’ll also need to think about storage space that is both functional and attractive. And don’t forget to make sure you are set up for your technological needs, with spots to plug in devices, and access to good internet.

The aesthetics of your office space

Obviously, functionality and practicality are top considerations, but a good office area will also be aesthetically pleasing, so consider updates like fresh coats of paint, attractive furniture, and stylish window fittings. If you plan to meet with customers in your workspace, make it comfortable and appealing. Look up different office design styles to see which might be a good fit for you.

Financial considerations

While having a garage attached to your house raises its value, having a fully equipped home office may raise its value even more. If you can save by working from home instead of purchasing or renting out office space, the savings deriving from this investment may be substantial indeed. And if you’re worried about what to do with your vehicle now that you’ve exiled it from the garage, don’t worry – you can always add an affordable carport, or even more affordably, purchase a car cover. A good car cover can protect your vehicle from the elements and make your life easier if you live in a climate with more extreme weather.

So long as it follows all local laws and regulations, having a dedicated office space in your home can make your life easier and increase your home’s overall value. So it might be worth your while to transform your garage, especially if it’s mostly serving as a storage place for clutter. If you need more guidance or information pertaining to real estate in general, check out more articles like this one at The Real Estate Think Tank.

2021: What A Year

Ok, I’ll admit it…I wasn’t prepared for the impact that returning to work in person would have on my life and on TRET. Now, 2021 is coming to an end and I find myself yet again writing another end-of-the-year post in which I am apologizing for the recent inactivity on this awesome blog. This time, however, it’s a little different.

2021 marked 10 years since I published the first post on this blog. At the time I was real estate agent and teacher who was about to begin law school and was looking for ways to better understand real estate modeling and real estate finance. I hoped to create a community of like-minded people so that we could explore ways to better value real estate properties and mortgages and discuss the market. Ten years and many experiences later this blog has grown and transformed into a general forum on all things real estate and I am amazed at the direction it has taken. 2021 has been an amazing year for TRET, so let’s take a look at the year in review.

 The Market:

What a crazy year for real estate! 2021 started with an insane housing market in which demand greatly outpaced supply. The pandemic created so much pent-up demand that in some markets, average time on the market was less than two weeks. This state of affairs, was clearly a carry-over from the effects of the 2020 quarantine. As the year progressed, housing prices rose, however so did inflation, depressing any true wealth gains.

Inflation and pent-up demand places the housing market in a strange position, as inflation rises the cost of construction making an the housing supply unprofitable. On the other hand inflation reduces the real gains from selling property, which also makes selling property less desirable. The Fed’s response to this situation and the market in general will be to raise rates, which will lower demand, making acquisitions more expensive. This will lead to a market with inflated prices and high interest rates—a rare market in which buying is undesirable and selling is only mildly incentivized. For housing, 2022 is looking to be a slow year for housing as the market returns to normalcy. That said, the traditional approach to sales and acquisitions will likely be the most successful. CNN Business has a similar assessment of the market, but with a slightly different conclusion. Feel free to check out their article here.

Commercial real estate had a unique year as well, but for different reasons. The year began with depressed asset prices across all classes as businesses struggled to project their physical needs after the pandemic. Although asset values were down across the board, multifamily properties performed the best and proved to be the best way to the whether the storm. Then something even more interesting happened…seemingly out of the blue, institutional investors woke-up and began acquiring everything.

A surge of institutional acquisitions took place during the second and third quarters of 2021. Multifamily, retail and industrial properties started to surge. Office properties were being left behind, but many municipalities began to facilitate their conversion into multifamily properties in order facilitate even more activity in market. Then, just as quickly as it came, the wave was over. In retrospect, it is clear that the major players in the market were looking to move money into real estate to avoid the effects of inflation, but at the time, the frothy commercial market felt very much like a feeding frenzy.

The Podcast:

The 10^th Anniversary of TRET saw the start of TRET: The Podcast. Although it certainly wasn’t an easy journey, recording the podcast episodes with my childhood friend and real estate extraordinaire, Conrad Bastien, Jr. was a lot of fun. TRET also branched into TRET Shorts, which were also a lot of fun to make. Expect more in future. The podcast was an opportunity to explore a number of topics in a manner that required even more depth and research than would be required by a blog post. Moreover, the chemistry created on that podcast cannot be duplicated. Please feel free to check out our episodes, which are posted here and on this blog.

The Growth:

This year has also seen TRET expand into the area of guest contributors. We were privileged to benefit from the perspectives of a number of guest authors, who allowed us to expand our content. I am personally thankful for the contributions as they served a motivation to keep TRET going.

So after a year like 2021, where do you go? The only answer is up. Look for more and better from TRET in addition to a migration to a new platform. TRET is growing, we’d love you all to be a part.

The End of Summer

Stephon Martin

August is coming to a close and although Summer isn’t officially over until September 23^rd, the end of August has an unofficial feel of transition. School will soon have begun for all children in the United States and the country will attempt to push forward out of the shadow of COVID-19. Some areas will forge ahead more successfully than others, but an attempt will be made by all. The beginning of September means that the holiday season is just around the corner. With the impending change of the season, how will the real estate market be affected?

Residential Prime Time

The first few months of the school year, be they August or September, typically trigger a time of reflection for homeowners. The start of the school year is one of the many ways that people mark the passage of time and the beginning of yet another academic year frequently prompts many homeowners to put their houses on the market. The current seller’s market should only serve to further motivate more homeowners to try to capitalize before prices drop. As Bob Vila.com points out, a few select markets have already begun the decline or, in some cases, never quite started the climb. September, October and November will be true indicators of how close to a new normal we really are, both socially and in the residential real estate market.

Commercial Watershed Moment

The current commercial real estate press is praising the bustling commercial real estate market, fueled primarily by multifamily acquisitions and refinances. This praise, however, is a bit shortsighted, as it fails to address the woes of the office market and the real issues of use and change in the retail market. With the economy so tenuous, any good news is great to hear, but commercial real estate has some real questions on the horizon. It seems that most participants in the commercial real estate market are taking a “wait and see” approach, while continuing to invest in the few small pockets where retail and office are making some headway.

Well, that is my quick take on today’s market. I couldn’t let August pass without giving a recap. Please feel free to put your comments below.