Should I turn my shed into a home studio... or rent a space?

[Cole.]

Hey folks,

I have a few questions about the best way to turn a shed into a home studio...

There's a 10 x 10 x 8 shed in my backyard. Thankfully, on all sides, it's about 30-35 feet from the nearest building, which includes my house.

There's already power and lighting out there (although I'm going to swap out the florescents for something quieter), and there are no windows. The ceiling has a very slight A-frame (adds perhaps a foot to the overall height), and the beams are exposed everywhere (it's totally ready to be insulated).

I'm guessing that I should insulate the shed, then soundproof overtop of that, and then add my acoustic treatment (panels and bass traps).

I'd like to know the cheapest way to go about this... but at the same time, the soundproofing needs to be fairly efficient because I'll be recording the occasional loud electric guitar (nothing massive, but a half-cranked 5w tube amp is still fairly loud!), as well as mixing through monitors. It will be easier to get away with volumes in the daytime, but I'm definitely hoping to use this room after work, as well.

I'm comparing the shed against another option: A couple of drummers I know jam at a space in an industrial area. I can rent their room monthly for $75, which will get me about 3 long sessions a week. Other bands rarely practice in the building, so it's pretty silent. I'd have access to a bit more gear (mics, guitars, etc). It's a larger room (probably 10 x 18 x 8), with a bunch of drumkits and gear set up in various places, so it might be harder to treat acoustically... but I can make as much noise as I want!

So yeah, any help making this decision would be appreciated. I know what I'm getting into with the rented jamspace, but I'd like to know more about the costs and methods surrounding the soundproofed shed option. If it's a one-time gouge of a few hundred dollars, it may be worth it when compared to a $75 monthly fee for the jamspace....

[tacitus]

Rent the space while you fully investigate and cost the shed conversion. Your shed ain't huge and it's square so it'll need intelligent planning to work well, which in turn takes time. You can be renting the space meanwhile and if you find that's fully to your liking, drop the shed project. Conversely, if the hired room sucks for whatever reason, you have the shed and more time to get your treatment planned properly. That's fairly close to win-win in my book.

[Sonic Citizen]

Converting a shed to a studio will take lots of cash and time. If done right, the end result could be awesome but I'd say rent a space.