We often hear from our Modern-Shed customers about the invaluable ways that their sheds have enhanced their lives — Modern-Sheds have allowed clients to spend more time with family, carve out time to devote to their passions and simply relax in a space that is wholly their own.
But Modern-Sheds also have a financial upside.
In addition to the tax savings that Modern-Shed home office users reap — tax benefits vary by profession and the shed’s size and frequency of use — many Modern-Shed customers have found major savings from unexpected places.
Take Alexis, from California:
The interior designer’s 10’ by 12’ Modern-Shed home office, where she works five to seven days a week, cost about $31,000 to build and completely furnish, but she would have paid $24,000-$36,000 a year on rent for a small office in the downtown area of the city where she works.
Alexis also saves $300 a week, or $15,600 a year, on nanny expenses — she’s now able to be home and available for her daughters and “their ever-evolving schedules,” she said.
That means in one year Alexis saved $39,600-$51,000 on office rent and nanny costs, coming out to a net savings of $8,600-$20,600 after factoring in the cost of her Modern-Shed.
“I can write off a certain amount of dedicated interior design home office square footage annually on my taxes,” Alexis added. “I love that I am close to home (my girls) and I have dedicated artistic space that I use solely for what I love, interior design.”
Screenwriter Mike Jones from California also saves in child care costs, as well as in espresso costs.
“Before we got the shed I worked countless hours at coffee shops, overstaying my welcome often and developing an espresso addiction,” he said. “By staying closer to home I do save a lot in child care costs but the main advantage is in being able to shift to home duties and back quickly.”
Mike can now make lunches for his family quickly and easily, and if he needs to be home for an appointment with a plumber or other service worker, it’s much easier to schedule.
“The critical focus that our Modern Shed allows for is priceless to my profession,” he said. “As a writer who needs a quiet, distraction-free work space, the shed is ideal. It’s paid for itself several times over.”
Sheila, from Oregon, paid around $25,000, including the flooring and electrical work, for her 10’ by 12’ Modern-Shed home office, where she works seven days a week in the music licensing profession.
Sheila considered renovating her home to create more space, mulling over two options: converting a covered porch into an office, which would have cost more than $40,000, or undertaking a $100,000 home addition.
Sheila saved between $15,000-$75,000 by purchasing a Modern-Shed instead of renovating her home, but the true value of her shed cannot be measured.
“I worked from our second bedroom, which was fine but we really needed a place for guests to stay,” she said. “The convenience is worth its weight in gold. Plus, I close the door at night and I don’t have to look at my work mess!”
Chris from Washington state also shared that he spent $25,000 total on his 10’ by 12’ Modern-Shed home office, but he saves $6,000 a year on rent and $600 a year on gas, while Paula, a psychotherapist and artist in Texas, saves $7,200 in office rent.
Anne, an esthetician in Washington state, paid around $98,000 in 2012 for her 12’ by 24’ Modern-Shed workplace, which features a waiting room, bathroom and work space for her clients.
For 16 years, Anne paid between $13,200 to $24,000 a year on rent at an office, plus she spent around $20,000 over the years on renovating each space.
She has saved an average of $19,850 each year by having a Modern-Shed, which means Anne’s shed will make up for its cost next year. That doesn’t even factor in the tax savings or other “incalculable” benefits, Anne said.
“I sit in my kitchen every morning drinking coffee, looking out at my beautiful shed, deeply satisfied at all that she represents,” Anne said. “The shed represents is the successful marriage of your company’s excellent design and our creative vision for my workspace. What the shed is is a place of comfort and rest for clients, a safe haven designed with them in mind … And for me a thing of beauty and art.”