Garage Reno / Finishing? Is this a thing?
2/25/2020 at 2:59:37 PM
Last fall, I drove past a few homes where the garage doors (double car garage) were open... My eyeballs were pleasantly greeted with an organized area, painted wall space, floors presumably epoxy coated, tool racks, bike and toy storage, shoe storage system, excellent lighting... It was like... an indoor backyard? I may be wrong, but I may have seen a TV, lawn chairs... lol...
My question - Is garage renovation / finishing a thing... a trend... in the now as we seek out more living space -- or do I simply live near people who are handy, creative with a great eye?
Any idea if these home improvements have any implications on property tax? (I am in Peel Region).
***added to long, long wish list...***
EDIT: Thank you for the great replies! :)
2/25/2020 at 4:14:43 PM
Hi,
Not to worry. Nothing you have noted effects the property tax in any way. It is simply giving a garage a nicer finish.
2/25/2020 at 5:01:10 PM
I grew up in a home like this. My dad heated his garage and throught couches and tv and had his man cave in there. Its totally a thing, an awesome thing if that what your into. I use mine to build cabinets but when i retire this i definetly happening! connect with me. I have many ideas for something like this as im planning my own. but as stated above it does not up property value to anybody who isnt looking for this exact thing
2/25/2020 at 5:17:00 PM
It is the owners project. I've seen several done as you mentioned and more that are partially finished. It can be costly so I'd suggest doing it in stages, if that is what you want. Take some time to make a plan and simply follow it. Keep in mind that, if you sell your place, others may not want the same things you do, so ... be somewhat generic. It doesn't affect your taxes but may increase the value of your home.
2/25/2020 at 6:10:37 PM
Garage renovations have "been a thing" for quite a while now, there are even franchised renovation companies that specifically cater to Garages, so you know its a thing when ...
As for increasing your property taxes, that will largely depend on 2 factors;
1. The city does a random re-evaluation of your home,
2. You apply for a permit that may or may not be required for your renovation projects.
As for the types of floor and wall finishings, there are countless ways and configurations, however, epoxy finished floors are now quite common in more upscale neighbourhoods and the results are quite nice actually. That being said, in terms of a return on your investment, kitchens and bathrooms far outweigh this very nice work... food for thought.
2/26/2020 at 10:05:22 AM
As long as you are not applying for a permit that your garage renovation need, then there is no affect to your tax evaluation. Having a garage done nicely it's really a good idea
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