Can I Finance Building a Garage Apartment?

garage apartment

Can you finance building a garage apartment? With HFS Financial, YES, you can! We work with customers just like you every day to achieve their home improvement dreams. We work to get you the best rates so that you can focus on designing and building your new project, whatever that may be. So, if you are looking to build a garage apartment, let’s consider a few things you want to include in your financing.

A Separate Entrance for Your Garage Apartment

If you are building a garage apartment with the intention of having family live there, you may have yet to consider making a separate entrance. HFS Financial knows it is in your best interest to go ahead and plan on adding that entrance while you are building, though. You could use the garage apartment as a rental income if that family moves on. Anyone who rents from you will definitely want their own entrance, though. It is better for you and them. It will also save you money long term to put it in now instead of later.

Additional Parking

If you are adding to the number of people in your household, consider adding in extra parking with construction costs. Adding a paved pad to park on that is connected to the existing driveway is a simple yet valuable thing. If you have two other cars, be sure to make it large enough to accommodate that. You could add on the garage itself if you want to go all out and make additional parking available there also.

Redoing the Garage Itself While Building Your Garage Apartment

If your garage is in need of a little TLC, incorporate those upgrades into your financing and project. While the contractors are there adding a garage apartment, they can transform your garage into a home gym or add some built-in storage. Think of things that would be nice to have that you could place in a garage and still park your cars. You can chat with your contractor about these things to see what ideas they can give you.

Adding Extra Rooms Other than the Garage Apartment 

As we said before, if you really want to go big, redo the entire garage as well! You don’t necessarily have to make it for extra parking, though. You could add an office, mud, or laundry room as an extension to the garage. It doesn’t even need to be with the garage apartment itself. It can be something entirely separate for you to use. If your garage isn’t already connected to your home, maybe now is the time to do that! The sky’s the limit.

With HFS Financial, you can use our 60-second rate checker to see the different options available to you with no impact on your credit score. Get an idea of just how much you can achieve when you reach out with a simple financing inquiry today. Then start dreaming big about how you will use that upfront financing with no staged funding to bring your project to life. At HFS Financial, “You Dream It, We Finance It!”


Can I Finance Building a Garage Apartment?

HFS Financial solely operates in the home improvement lending space which means we can confidently say that we are THE HOME IMPROVEMENT LOAN EXPERTS. When you apply at HFS Financial you will get a customized loan experience tailored to ensuring you get the best personal loan to meet your home improvement loan needs.