Add Value To Your Home With An Extreme Makeover

As Pittsburgh home prices continue to rise, many Pittsburgh homeowners in need of more living space are opting to give their garage an “extreme makeover” rather than moving to a larger home. According to a recent Harvard University Joint Center for Housing study, homeowners spent an estimated $129.5 billion on remodeling in the last four quarters alone. As Carole Schiffer, a Coldwell Banker Realtor explains, “People want more breadth of utility for their homes. Instead of going to the movies or the gym, they’re converting garages into media rooms and gyms.”

However convenience isn’t the only thing motivating Pittsburgh homeowners to finish their garages. Some homeowners are remodeling out of necessity. For example, transforming a garage into a home office may make it possible for a stay-at-home mom to work part-time while her children are napping or at school. Or turning the garage into a small studio apartment for an elderly parent can make for an easier transition into assisted living because there is still some level of independence and privacy.

Assuming that there are other places to park or store a vehicle, reinventing a garage can actually increase the value of a home. Schiffer adds, “Any well-executed home remodeling project done to code that turns the garage into a livable space can increase Pittsburgh property values by up to 10 percent”. Many individuals who take on such a project actually build a new detached garage or have a lengthy driveway. In either case, Pittsburgh homeowners should contact their city zoning departments and neighborhood homeowner’s association for approval before considering such an undertaking.

The irony in Pittsburgh homeowners giving their garage an extreme makeover is the financial motivation behind it all. While rising home prices keep several of these people from moving, they also give people the bump in their home’s equity that afford them the renovation. John Martindale, President of Brothers Roofing in Hampstead and member of the Home Builders Association in Maryland concurs, “A large driving factor [to remodel] is the rising values everyone is experiencing right now. It gives people equity to spend on their homes”. Combined with the historical low interest rates that are still available, many homeowners can refinance, pay for their remodeling and, in some cases, still lower their monthly payment.

Finding a qualified Pittsburgh home remodeling contractor, however, can pose a challenge given the strong activity in the remodeling market. There is so much business on the table that many contractors don’t even have the time to show up to bid on new projects. If a contractor does agree to take on a new project, it is not uncommon to experience lengthy project delays. As the number of home improvements increase, so do the number of complaints. Maryland alone experienced a 28 percent increase in the number of complaints filed to the Home Improvement Commission over the last year.

Before choosing a contractor, verify the contractor’s license, review references, and visit previous work. While giving a garage an extreme makeover can be serious business, don’t forget to have fun. Creator of the concept “Garage to Glam”, Valerie Brickford likes to remind homeowners to “think outside of the box”. As a featured interior designer for the TLC® program Clean Sweep, Valerie has shown many homeowners how to turn “used” into “usable”. Garage renovation is all about giving the space a new purpose and new life.
 

    Mutual Builders can assist you with financing your next home remodeling project. Please contact us today, and one of our consultants will assist you.