Home Additions that Add Value to A Home
Several homeowners consider home additions as expensive and remain perplexed about their usefulness and ability to add value. However, adding square footage to the home or making a few essential upgrades is an excellent way to fetch a good ROI. But not all home additions are equal. Some are a complete waste of time, money, and effort, while others can recoup more than half of the amount invested.
Well-researched and carefully deliberated add-ons are more likely to pay off in the future. They increase the living area, enhance the look and functionality, and substantially add to the home’s value. If your needs have outgrown the current home’s space and there is a possibility of putting up the house for sale in the future, it is only smart to add on to the home to increase its resale value.
While contemplating a home renovation, here are a few additions you can make to attract more potential buyers:
Bathroom
Adding a bathroom will be one of the most valuable addition to the home.
Not having enough bathrooms in the house is not only inconvenient but also turns-off the potential buyers. Consider adding a full or a half-bath, depending on the budget, to enhance the functionality and sales appeal. People working on a tight budget can expand the existing one and upgrade to modern designs and features. The cost of bathroom addition depends on the size and the accessories you wish to include. Homeowners are likely to recover more than 50% of the bathroom addition investment.
Deck
Adding a deck will be definitely a good investment but the cost maybe steep depending on the house elevation.
For homes lacking an outdoor patio space, adding a deck makes for a useful and wise investment. It offers a fun and enjoyable spot for the family and is appealing to potential buyers. For areas experiencing milder climates, a deck makes the outdoor space usable year-round. People living in regions with cold winters can enclose it to convert it into a sunroom or an extra room to expand the living space. And the best part, it offers 75-80% returns on the investment.
Finish the basement or attic
Another great investment to your home future value is finishing the basement.
Unfinished basements or attics in several households serve as an extra storage space. One of the most affordable ways to create an extra living space without adding an extra room is to convert these areas into a bedroom, workout area, or a home office without detailed structural changes. Add a bathroom and closets to increase the functionality. Basement remodeling recoups more than 75% of the investment.
Add Windows
Adding on changing windows will definitley bring extra value to your home.
Adding new windows has more benefits than one. They eliminate drafts, and their insulation properties significantly cut the heating and cooling expenses, saving money on energy bills. House with energy-saving features is a big attraction for potential buyers.
Kitchen additions
If your home has a very small kitchen adding to the square footage of the house addition and building a kitchen will bring the most value to the home but cost could be significantly high.
The kitchen is the center of attraction in every house. If you feel it lacks adequate space and feels cramped, add on to it to increase the home’s salability. Kitchen remodels or additions fetch one of the highest returns. Updating the existing appliances and adding new cabinets, counter, center island, or a pantry for additional storage makes the kitchen more enjoyable and functional and pays back a big chunk of the invested money.
Add an extra story
This type of addition will come with careful planning, steep cost and a lot of inconvenience because most likely you have to leave the home during the cosntruction which could be 4-6 months
Adding an extra story is an expensive and time-consuming home addition that adds significantly to the square footage. It enhances the home’s resale value and makes it appealing to potential homebuyers. An extra floor with a master suite recoups more than half of the investment while selling.
These are a few additions to consider while looking to boost the home’s value. Selecting the best one for your needs depends on factors like location, size, and condition of the current house, budget, and when are you willing to put up the market for sale? Home additions and remodels present an incredible way to create a valuable and comfortable living space.