How much does it cost to remodel a garage?

A garage remodel can transform an underutilized area into the space of your dreams. Whether you want a sleek office space, a fully equipped gym, or a cozy apartment, investing in your garage can increase the functionality and value of your home. 

‍

Given the wide range of potential, the price tag of a garage renovation can vary significantly. However, understanding the associated costs can help you plan and budget with confidence. 

How much does it cost to remodel a garage?

On average, homeowners spend $18,000 on a typical garage remodel. However, you can tackle a basic upgrade anywhere from $5,000 to $15,000. Alternatively, if you have big dreams, a high-end conversion will cost upwards of $30,000 to $50,000.  

Garage remodel cost by project

Cosmetic updates

Average cost: $1,000 to $5,000

‍

Refreshing your garage's appearance doesn't have to put you into debt. Fresh paint, updated lighting, and creative storage areas can give it the facelift you want on a decent budget. If you want to splurge and create a welcoming feel, consider updating any garage doors, too. 

Simple remodel

Average cost: $5,000 to $10,000

‍

A basic remodel is another way to elevate your space without breaking the bank. In addition to some aesthetic touch-ups, this can include revamping garage flooring, cabinets, and doors. If possible, consider updating the insulation of your garage walls, which can tremendously improve temperature control in the space and make it more energy-efficient. 

‍

These simple changes can quickly improve the comfort and functionality of your garage.

Home gym

Average cost: $200 to $6,000

‍

Building an exercise space not only offers convenience but may also be more cost-effective than a gym membership in the long run. 

‍

More minor upgrades, like rubber or foam flooring and improved lightning, can be a budget-friendly approach to updating the space. For a more luxurious experience, you can opt for wall-mounted storage and mirrors ($500 to $2,000). 

‍

Don't forget that you'll need to buy equipment, which can quickly add to the costs.  

Workshop

Average cost: $1,000 to $8,000

‍

Whether you’re into woodworking, crafting, or tinkering with gadgets, a dedicated workshop can enhance your creativity and productivity. The more tools and utilities your hobby requires, the bigger the renovation bill. 

‍

Keep costs low by thrifting functional furniture, like a workbench that doubles as storage. A simple remodel with a dedicated space for working is the best way to keep your project affordable. 

Home office

Average cost: $5,000 to $7,000

‍

Converting your garage into a home office is an excellent way to maximize productivity. However, a fully functional office space requires working electricity and plumbing, which can be costly if you need to install it. You may also need to upgrade the HVAC system to ensure your office space is workable and the air quality is good. 

Living space

Average cost: $5,00 to $100,000

‍

Converting your garage into a living space is no easy undertaking—it also carries a hefty price tag. However, having the opportunity to have family close by or maybe earn some extra cash by renting it out can justify the expense.

‍

Conversions are generally the most expensive remodeling project, as you'll need to install many vital systems and fixtures. Here’s what you can expect to pay:

• Converting a garage into a bedroom: $20,000 to $50,000
• Converting a garage into a kitchen: $5,000 to $65,000
• Converting a garage into an apartment or guest suite: $20,000 to $100,000+

Factors that influence the cost of a garage remodel

Here are the factors that can influence the final price:

Size

The size of your garage plays a major role in determining costs. More oversized garages naturally require more materials, labor, and time than smaller ones. 

‍

A single-car garage remodel can range from $5,000 to $10,000, while a two- or three-car garage can easily surpass $25,000.

Materials

High-quality materials—while durable—can quickly run up your renovation costs. For example:

• Flooring: Basic epoxy finishes cost less per square foot than premium tiles.
• Cabinetry: Prefabricated cabinets are more budget-friendly than built-in cabinets—nearly $400 per linear foot cheaper.
• Exterior walls: Vinyl can start as little as $1.50 per square foot, compared to brick, which has a price range of $9 to $20 per square foot. 

‍

When exploring materials, be sure to weigh cost with quality; consult a professional if you’re unsure. 

Permits

If your garage renovation involves structural changes, plumbing, or electrical work, you'll likely need building permits. You can expect to pay $150 to $500 in basic permit fees. Permits for garage conversions cost between $800 to $1,500, depending on the extent of the remodel.

Labor

Working with professionals can help ensure peak quality and safety during and after the renovation. However, labor expenses generally account for 30% to 50% of the total remodel cost. The more professionals involved and the more time-intensive the project, the higher the labor bill.

• Electricians and plumbers: $50 to $130/hour
• General contractors: $300 to $500/day

Insulation, plumbing, and electrical

Adding or upgrading insulation, plumbing, and electrical systems can significantly run up the remodeling bill.

• Insulation: $1.50 to $3.50 per square foot
• Plumbing installation: $1,500 to $5,000
• Electrical upgrades: $1,00 to $7,000 

Location

Where you live impacts labor costs, material availability, and permit requirements. Remodels in urban areas or regions with a high cost of living generally cost more than those in smaller towns or rural areas.

Budgeting tips for your garage remodel

• Plan ahead: Create a detailed budget and stick to it. Be sure to overestimate to account for any unexpected expenses.
• Get multiple quotes: Compare quotes from various contractors to get competitive pricing and save money.
• DIY where possible: Painting, minor repairs, or installing shelving are tasks you may be able to handle yourself. If so, you may be able to trim labor costs—and enjoy that feeling of fulfillment that comes from hands-on home projects.
• Repurpose existing materials: Keep your existing garage door, cabinets, or shelving if they're in good condition and fit your design. You can always apply paint or quality wallpaper to get the change you're looking for. Consider shopping secondhand for materials like lighting fixtures, storage solutions, or flooring.  
• Shop offseason: Contractors and suppliers may offer discounts during slower seasons, typically winter. This can help you save significantly on labor costs. 
• Prioritize upgrades: Focus on essential upgrades first, like insulation or electrical work, before splurging on aesthetics.
• Think about ROI: Some upgrades will give you a bigger bang for your buck when it comes time to sell your home. Consider skipping or downsizing trendy renovations to focus on utility, comfort, and long-term gain. 

Financing a garage remodel

Depending on the budget needed for your dream garage renovation, you may need to look into financing some or all of the project. Luckily, for homeowners, there are plenty of options for securing cash:

Home improvement loan

Home improvement loans are unsecured personal loans that you can use to finance renovations. Interest rates and eligibility are heavily based on your creditworthiness as a borrower. Repayment consists of fixed monthly payments over a 2 to 7-year period. 

HELOC/home equity loan

If you’ve built sufficient equity in your home, you can leverage it to cover the cost of a garage remodel—typically with better rates and a longer repayment period than other debt products. 

‍

Home equity loans provide a lump sum of cash in exchange for fixed monthly payments. This can be a great way to cover the entire cost of a project upfront. HELOCs, on the other hand, offer a revolving line of credit and interest-only payments during the draw period. Once the draw period ends, you’ll have principal-plus-interest monthly payments at a variable rate. HELOCs can provide flexibility if you don’t know exactly how much you’ll need. 

‍

To qualify for HELOCs and home equity loans, homeowners generally need a credit score above 620, a debt-to-income ratio below 45%, and 15% to 20%.

Home equity investment

Home equity investments (HEIs) are another way to tap into your equity—you can get a lump sum of cash in exchange for a share of your home’s future appreciation. Unlike home equity loans and HELOCs, there are no monthly payments. The investment is paid in full anytime during a flexible 30-year term when you sell the home, refinance, or use another source of funds. 

‍

Homeowners need sufficient equity and a credit score above 500 to qualify—there are no income requirements. 

Credit card 

If you're tackling a smaller garage remodel with a relatively low price tag, a credit card may be a viable option. Since they generally come with high interest rates, it's important to shop around for deals and be sure you can pay off the balance quickly. 

Final thoughts

Whether you want to increase functionality or boost your home's value, a garage renovation can be a worthy investment. Before diving in, be sure to budget wisely and understand all your financing options. 

‍

Finance your garage remodel with ease - enjoy no monthly payments while you transform your space. Point's Home Equity Investment (HEI) has no income requirements, and you don't need perfect credit to qualify. Learn more at Point.com/hei.    

‍