Want to Renovate Your Garage? Here's What to Know.

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WSJ Your Money Briefing 10 min 3 speakers 2 chapters transcribed 2 months ago
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ReliaQuest Advertiser 0:00
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J.R. Whalen 0:30
Here's your Money Briefing for Thursday, August 26th. I'm J.R. Whelan for The Wall Street Journal. During the pandemic, city dwellers have moved in droves to the suburbs in search of more space. But people already in homes where they've been cooped up for the past year and a half have also sought ways to add more living space without moving. Many have turned to the garage.
Candace Taylor 0:55
We've seen things from ceramic studios, art studios, a lot of gyms. It sort of seems like anything you can think of, people have turned their garages into during this pandemic.
J.R. Whalen 1:08
So if you have a garage that you're thinking of repurposing, what should you keep in mind before getting started? And how will it affect your home's value? WSJ Mansion reporter Candace Taylor has been looking into this, and she'll join us to discuss after the break.
ReliaQuest Advertiser 1:21
This podcast is brought to you by ReliaQuest. Cyber criminals are constantly attacking. They want your data. They want your identity. They want your innovation. ReliaQuest fortifies your business with agentic defense, AI that detects, contains, and eliminates cyber threats in minutes. It helps your security team move faster at the work that matters most to protect the business now and delivers insights to help them predict what's next. ReliaQuest, agentic defense for the enterprise. Learn more at ReliaQuest.com. That's R-E-L-I-A-Q-U-E-S-T.com.
J.R. Whalen 1:59
Over the past year and a half, our homes have become our office, our gym, our childcare center, our hobby area. But as people only have so much space in the house, many have renovated the garage to create more space for activities. Sounds ideal, but it can also get expensive. Candice Taylor writes for the WSJ's Mansion section. She's been talking to people who've done various degrees of renovation on their garages, and she's here to talk about it. Candice, thanks for coming on the show.
Candace Taylor 2:24
Thanks so much for having me.

Why are homeowners repurposing garages during the pandemic?

J.R. Whalen 2:25
So Candice, why the garage? Why are so many people doing renovations there in particular?
Candace Taylor 2:30
Well, since the pandemic started, we've all been a little stir crazy at times. And it seems like people's garages are sort of a big focus of a lot of the renovation projects that are going on. One of the things I learned in reporting this story is a lot of people have garages that they don't use for parking. During the pandemic, a lot of people realized, hey, I have this available space that I'm not maximizing. Let's do something creative with it. A lot of these garage conversions ended up being a safe way for people to entertain friends and family during the pandemic, especially during the early part when people weren't vaccinated and you didn't feel safe being indoors. A lot of these garages really lent themselves to
Candace Taylor 3:15
being able to socialize because you could open the garage door, right? Or you could open the windows. And so you wouldn't be just out in the elements, but you'd have enough air circulation that you felt like it was okay to have a drink with a friend. And a lot of folks told me that that was sort of a lifesaver for people during the pandemic, just being able to come together at a time when everybody was sort of trapped in their houses.
J.R. Whalen 3:39
Okay, so what kind of improvements are they making?
Candace Taylor 3:41
Well, we are seeing all kinds of things. People, you know, ranging from just an accessory dwelling unit with another bedroom, maybe for mom or the adult kids, to the very practical, you know, home office, right, which we all need right now, or place for kids to do remote school. But some people are getting really creative.

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