Before hanging out your business shingle, you need to ensure that your garage is equipped to be a livable space in which you can spend at least eight or more hours a day. Some modifications you’ll need to make include:
- Cleaning. The garage is usually the place where homeowners throw their unused items. Take some time and declutter the area beforehand.
- Flooring. Most garage floors are concrete. You can choose to add tiles, wood, or carpeting to make it feel cozier.
- Insulation. As a rule, garage insulation is terrible. Having good insulation won’t just make you more comfortable — it will save on energy costs. Consult a professional to see which type of insulation works best.
- Lighting and decor. Working in a dark garage can be depressing. Add windows for more natural light as well as some LED lights for late-night sessions.
- Technological. You can choose to run a long Ethernet cable to your office or use a Wi-Fi range extender, which costs less than $100.
Possible Tax Deduction
When it comes to claiming the business use of your home as a tax deduction, you can, but there are rules. According to the IRS, how you use your new garage office matters. If it’s used exclusively and regularly for your business, including as inventory storage or as a daycare facility, you may be able to claim it as a home office deduction. Contact a qualified tax professional to better understand the details.
How This Renovation Could Affect Your Home Value
Before the pandemic, only 20% of employees worked from home. That number more than tripled to over 70%, and after the outbreak, more than half still want to work from home. This trend is here to stay, and transforming your garage into a space that more homeowners are demanding could increase your home’s value.
If part of your reasoning for adding a home office is to someday sell it for a higher price, it’s worth remembering that its increase in value depends on many factors including location. Keep your receipts, and create a detailed before-and-after photo or video series for additional documentation.
Customizing Your Garage Home Office
While it seems like an easy idea, converting your garage to a beautiful home office relies on many steps, some of which you can’t control. Once it’s done, you can customize it to your tastes and enjoy your new space.
Thanks to our guest blogger Tina Martin for her contribution.