Homeowners have to be forward thinking these days. Building upon and improving your home’s value can make selling it down the road much easier, and more profitable. In the age of unstable housing markets, it’s important to follow good maintenance habits and take the time to see how and where you can make your house homier.
1. Update your kitchen
Kitchens are sometimes one of the most important rooms in a house. It’s where you prepare meals, dine with family, and enjoy your guilty late-night snacks. The kitchen, experts say, is also one of the best rooms you can improve upon to increase the value of your house. Updating appliances to sleek stainless steel models, replacing backsplashes, and upgrading to hardwood floors from linoleum can easily redefine a kitchen’s charm.
Here’s a pro tip: Rethink your use of space in the kitchen. Learning how to make the most of the room while opening it up can help it become the new go-to space.
2. Add an extension to your house
Extensions can be as large as a whole new hallway or wing, or as small as an extra bathroom. These additions can make a huge impact on the price of your home. Creating the extra space that blends in with the rest of your house is easily one of the most challenging aspects of this kind of renovation, but it can also be the most rewarding. More space equals more value, now and in the future. Adding in a family room, game room, or conservatory means more than just a higher value for your house on the market—it means more space where you can gather with friends and family.
3. Add a residential elevator
Installing a residential elevator has become a practical investment in one’s home. Aging residents who wish to retire at home are looking to residential lifts as a means to maintain their independence; but the list of customers has grown beyond just seniors. Trendy home owners looking for a new focal piece or families interested in making their daily lives easier are all considering adding an elevator to their homes.
The wonderful thing about these conveniences is that they can accomplish all the above. They can improve your quality of life by making getting between floors less of a hassle—a convenience for the elderly, disabled, and anyone who sees themselves moving large or heavy items around regularly. There’s also the range of available features and design options. Being able to customize the look and style provides homeowners with a unique addition that will fit seamlessly with their existing décor.
Currently, manufacturers are offering elevator drive systems that can minimize the impact a residential elevator would have on space, too.
4. Convert your basement, loft, or garage
How many houses have you been to that leave their basements or lofts completely unused? Or worse: as storage space for boxes of holiday decorations and cobwebs? It’s actually good financial sense to make the most of your available space, which often means turning unused rooms into accommodating living space. One of the nicest things about taking the conversion route (as opposed to adding an extension) is that it’s relatively non-disruptive to the remainder of your home.
For attached and detached garages, these spaces provide yet another opportunity for new living space. Homeowners looking to truly maximize their return on investment could create small apartments in their basements or garages, which could then be rented to tenants. While it’s certainly not a decision or renovation to be taken lightly, it’s one that warrants consideration for those looking for a strong ROI.
5. Redo your bathroom
Your bathroom, like the kitchen, is an important room, mostly because it’s a space meant to create a sense of comfort and privacy. It’s also a room most guests will visit, and sees heavy, regular use. You can expect to increase your home’s value by 2 to 3% by renovating your bathroom. Common upgrades include changing out the floor for something more durable and modern, and contemporary amenities such as a new sink and bath/shower equipment. And a new coat of paint never hurts either!
It’s worth noting that even if you aren’t looking to sell or have no plans of moving any time soon, these fixes can improve the functionality and beauty of your home for years to come. You’re worth having a home you’re both proud of and in love with, so why not put in the work now to benefit you and your family in the future.