8 Ways to Increase Your Property Value With House Modifications
While adding extensions over and under your home are considered failsafe ways of increasing the home value, there are other creative ways of squeezing out the extra footage without changing the home footprint beyond recognition. Here is the list of re-modellers’ all-time favourite upgrades which not only improve the quality of life for the current residents but also make the property more attractive for future buyers.
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Enclosing a patio is surely going to take a lot of work, but its effectiveness in increasing the home value is hard to match. It involves putting up walls and extending the roof, and in some cases even fortifying the foundation. However, if done correctly, it will increase the square footage of your home and provide additional area for various purposes.
Small kitchen add-on
If you feel that you can always use some additional square footage in your current kitchen, you can always add a small one off the back of your house. A small kitchen addition is among the top remodelling projects when it comes to recouping the material and labour cost. You can use it to house an extra fridge, or specialty appliances which can’t fit into the main kitchen.
A room over the garage
This kind of extension might be a perfect remedy for a house with a small lot which desperately needs additional living space. Make sure you check your local building codes and zoning regulations before you embark on such a project. Although you will save on construction costs, because the foundation is already in place, you’ll have to invest in a vapour barrier to block car exhaust fumes, as well as a new roof.
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In order to be counted in the square footage of the house, and more importantly considered a value-adding extension, an attic must be connected to the rest of the space through a stairway. In addition, in order to make it liveable, at least one half of the finished floor area needs to have at least 7-foot high ceiling. If you want to save energy through your attic space, the best option is to use blown-in insulation.
Adding a garage
Garages and parking spaces are in high demand these days, so having or adding one to your property is guaranteed to increase the resale value of your property. Recent research in the UK found that a garage can add as much as five percent to the value of an average home. Even if we ignore the financial issue, some buyers will immediately rule out a property which doesn’t offer the convenience of protected car parking. If you choose to add a garage, you should go with a resourceful contractor like Best Sheds, who are able to offer substantially better terms, due to removing the middle man in the supply chain.
If you’re looking for a simple extension that will give you more space in your home, a new dormer in a cluttered attic might just be what you need. Apart from creating additional space you need to convert the attic floor into a comfortable extra bedroom, studio or home office, the dormer window will provide natural light, natural ventilation, and perhaps even a lovely view of the canopies. On the outside, dormers add variety to otherwise plain roofs and improve the home’s curb appeal, which always plays a role in negotiating the resale price.
A second bathroom
In a study conducted by The National Association of Realtors, it was concluded that a full second bathroom adds 24 percent to the property price. However, unless the house is huge, adding a second bathroom only makes sense if the original one cannot be extended, or it lacks luxury features such as the master bath. Apart from that, the feasibility of adding a second bathroom depends on the value of the house and whether there is space for it. For example, in low-end neighbourhoods, such an upgrade might not really make sense.
Small but effective
Apart from construction projects, there is a number of easy fixes that add far more value than they cost to complete. For example, you can repaint the front façade and add window shutters. If needed, wash the house exterior with a power hose and trim the trees and bushes in the front. Paint or replace the front door, and match it with a new, intriguing light fixture. If there are no walkways around the house other than lawn, add some paver stones and weed the driveway.
Each of these space and comfort-increasing ideas add up your property’s resale values. Although many of them might seem like uncertain investments, modifications listed here are guaranteed to return the value once the house goes to the listings.
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