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When you need a home office but don’t have space for it, there are a few options you could consider: look for a larger home, build an addition, or increase your space by converting your garage. A garage conversion is the easiest and most affordable of these options, and it has the potential to become the workspace you’ve always dreamed of.


Picture Your Perfect Work Space


Whatever your garage may hold now, think of your garage conversion as a blank slate. You’ll have to empty your garage anyway to make the space livable, so go ahead and picture it as empty — but full of possibilities. If you do have a garage full of stuff, renting a storage unit is an affordable and easy way to store it all off-site. In Rocklin, the price for a self-storage unit over the last 180 days has been about $131.41 on average. When you consider the cost, think of it this way: renting a storage space takes the worry out of what to do with your stuff, and it’s way cheaper than renting a “traditional” office space.


With a clean space to work from, you can then come up with a plan to meet your needs. Ask yourself how you can maximize this space. Do you want it to be a multi-use space that can double as a guest retreat or family room? Or, do you need it to be a dedicated office space? Think about your work routine too, and in specific terms. For example, Entrepreneur.com says to ask yourself what type of work you’ll be doing, whether you need space for guests, what kind of storage you’ll need, and whether you’ll do video conferences or conference calls. 


Along with the functionality you need, don’t hesitate to give your plans a personal touch. You aren’t in an industrial office building, so there’s no need to go all gray — unless gray is what you like!. We love these design ideas from House Beautiful, including decor that borrows from nature, bold colors, vintage and modern elements. This is your space, so it should inspire you.


Put Your Plan Into Action


Once you have a plan for how to set up your space, the next thing to consider is how to make it happen. Garages aren’t exactly built for comfort, so it will take some work to bring it up to livable standards. This part may require the help of a contractor because it will require construction and possibly also electrical work. Here’s what you need to consider.


  • Insulating Walls: If your garage is drafty, you may want to hang drywall and add insulation. Be sure to insulate the ceiling too so that heat doesn’t escape. You will also need to decide whether to keep the garage door or replace it to enclose the room. One option that’s ideal for letting more light into your office is to replace the garage door with floor-to-ceiling windows.


  • Heating and Cooling Systems: If you live anywhere other than a perfect climate, you’ll need a way to keep the room comfortable. According to the Spruce, if you have an attached garage, you may be able to extend your home’s HVAC system easily. Otherwise, you can consider independent systems, such as electric baseboards and a portable air conditioner, which you can find at retailers like Home Depot.


  • Flooring: Flooring is one element of your garage that’s more than just functional — you also want it to have a certain look and feel when you’re converting the garage into a room. An affordable and easy option is to lay laminate flooring. If you prefer carpet, the blog Garage Remodel Guides gives a word of caution about moisture, but choosing indoor/outdoor carpet can be a good solution. If you like wood floors, it’s recommended that you go with engineered flooring over solid hardwoods because engineered floors withstand moisture better.


The ultimate goal is to transform your garage from a space that’s cold and industrial into a room that feels warm and homey — and inspires productivity! After all, working from home gives you the opportunity to love where you work. So, why not make this space into exactly what you want for ultimate comfort and productivity?


Photo credit: Unsplash


Author

Natalie Jones


Posted by Gregg Mower on January 14th, 2020 3:41 PM


For most people, purchasing a home is the single largest investment they will ever make. And while many are well-versed in paying a down payment, mortgage and insurance, a lot of homeowners are caught by surprise when faced with another expensive part of owning a home: major repairs. Owning a home comes with the inevitability of things wearing down over time or breaking suddenly, and rather than simply calling the landlord, the homeowner is responsible for paying the costs. If you own a home or are thinking about buying one, these tips can help you to prepare for the major home repairs that will come your way:

 

Saving Up

 

No matter who you are, paying for home repairs ideally will not land you up to your ears in debt. You may be tempted to pull out the credit card or delay paying other hefty bills (e.g., mortgage, student loans, etc.), but this can get you into a lot of financial trouble. The best way to handle major home repairs is to be prepared when they happen. Start an emergency fund that is dedicated solely to covering the costs of such repairs. This can either be done through a savings account with your bank or by keeping an old-school cash envelope at home.

 

Many experts suggest setting aside at least 1 percent of your home’s value each year for repairs and maintenance. For instance, if your home is worth $660,000, you would put $6,600 in your emergency fund every year. Such savings can quickly add up, leaving you in a better position to cover the cost of that roof replacement or plumbing disaster.

 

Refinancing Your Home

 

Another option for paying for a major repair is refinancing your home, which allows you to take advantage of your home’s equity. With cash out refinancing you can get a new loan for your home that has a higher balance. Then, you receive the difference between the two loans in cash. Thus, you can then use the cash to cover the cost of the repair. It’s also worth noting that the new loan could end up coming with more favorable terms than the previous one, making it a win-win situation. Here at MAE Capital we can walk you through this process. 

 

Taking Out a Personal Loan

 

If you don’t have an emergency fund built up or refinancing isn’t an option, you could explore various types of personal loans out there. These days, it’s easy to apply online for a personal loan. Moreover, some loans even start at under 4 percent interest, and that’s much lower than using a credit card.

 

Selecting a Contractor

 

The contractor you use for each home repair can make a big difference in the time and money you spend. For example, if you choose a contractor simply because they offer their services for the lowest price, you could end up with shoddy work; this means you would then have to go through a lengthy legal process to get your money back or pay a different contractor to come and fix the bad repair.

 

To avoid a situation like this, be sure to ask around for referrals and interview several candidates. Check the licensing and insurance of each candidate, look into their job history, and get estimates for the work needed. Then, you will be ready to compare bids and qualifications to determine which contractor is best for the project. Furthermore, you will want to be sure to get a detailed contract in writing before any work has begun.

 

Homeownership comes with the costs of major home repairs, and it will save you a lot of stress and financial trouble if you have a plan when the day comes. Start contributing to an emergency fund today. Look into cash-out refinancing and personal loans to see if those options will work best for your situation. Finally, be diligent when choosing a contractor for each project.

 Article by: Natalie Jones

Photo Credit: Pexels

Posted by Gregg Mower on October 31st, 2019 11:12 AM


It is summer and the home improvement projects are heating up.   Weather you are replacing your kitchen or refinancing your home to a lower interest rate this summer seems to be the time to get these projects done.  The economy is doing great and you are pretty secure with your job, or jobs if you are a 2-income family.  With the economy strong and employment being as strong as it is you should feel comfortable with your financial situation.  You may have projects around the house that need your attention that you have been putting off due to finances or time.  It’s probably is not a better time to get started than now.  If you need to do major projects like a kitchen or bathrooms or even adding on to the square footage and you need money to do it, you probably have the equity in your house or the money your bank account to get this done now. 

If you have decided to remodel your existing home, you will not only be making your home more pleasant to live in, but you will be increasing the value of your home.  If you remodel your kitchen your home could go up 1.5 times the cost to remodel to remodel.  For example, if you pay $30,000 to remodel your kitchen your home would probably increase in value by $45,000 depending on your area, of course.  If you plan on selling after remodeling you will make your home more desirable and will sell on the upper end of the market.  This holds true with bathrooms as well. 

If you re-do you front yard this too will increase the value of your home as it would be more desirable to potential buyers as it is the first part of your home a buyer will see.  A fresh coat of paint makes the curb appeal greater as well.  The back yard is not as important to potential home buyers as it is the last thing people see when looking at homes.  Also, most home buyers will want to put their own personal touch on the backyard anyway.  So, if you are looking to do projects that increase value of your home do the back yard last.  But if you are living in your “Forever Home” a backyard remodel may be just what your family needs. 

Anything you do to your home to make your space more appealing to you is invaluable as this is where you live every day.  In this Real Estate Market know that the money you put into your home will probably stay in your home, at least for the next several years.  I see no major slow down in the Real Estate Market, as far as values goes, for the next several years.  Next Year is an election year and typically the Real Estate Market slows down in anticipation of the what the next administration will do to their employment situation.  I will not predict the outcome of this election, but whoever is elected you will have at least a year after they are elected to screw up the economy, or keep the same course of the current economy.  Whatever the outcome there are at least 2 years of a good Real Estate Market. 

In addition to a strong Real Estate Market Interest Rates have remained low.  So, if you need money to remodel your home now is the time to borrow the money to do it.  The neat thing about a remodel is that your home will generally increase by at least the cost of the remodel and in most cases the value will increase by even more than the cost of a remodel.   With interest rates as low as they are you might not even raise your monthly payment at all by borrowing the costs of the remodel.  How is that possible you ask?  If you bought your home originally with an FHA loan and have a 4.875% rate say 4 years ago the value of your home may have increased to the point where you do not require Mortgage Insurance so when you refinance today with a conventional Loan for say 4.125% with no mortgage insurance the additional money you took may actually keep the payment about the same as it was with your old loan. 

Remodeling your home or just doing simple improvements will not only make your home a better place for you to reside it will increase the value of your home.  Coupled with a low interest rate environment your home, if you were to sell it, would probably surprise you in how much it would sell for.  Or if you have no desire to sell but to make your place more livable for you and your family you will have peace of mind that every dollar you put into your home is still there in the equity of your home.  If you have questions or wish to see these numbers in action, we are here to help.  If you are simply looking to refinance to a lower interest rate, please give us a call we would love the opportunity to assist you.  One of our Loan Officers or Realtors can answer your questions today at www.maecapital.com or call at 916-672-6130

Posted by Gregg Mower on July 22nd, 2019 12:05 PM

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MAE Capital Real Estate and Loan

CA DRE #01913783|NMLS #806170

4940 Pacific Street Suite A
Rocklin, CA 95677