Image Courtesy of Unsplash
Owning a property is probably the most significant investment you will make. But on average, a family moves 11 times before finding their settled home. So while you might stay at home for a long time, you may eventually look to sell. As such, you will want a good return on investment, and as you may be aware, the housing market is constantly rising. Still, you can add even more value to a home with some extra touches that offer huge returns on investment.
This Basement is now Safe
No longer the subject of horror stories and children’s game dares, the basement is fast becoming an integral part of the home. Because it’s essentially a blank canvas, you can finish your basement (click here) however you like. Popular options include a guest bedroom, the Man Cave, and a playroom for the kids. A finished basement typically adds up to 75% return on investment and upto 60% of the appraised value of the first floor.
A Lofty Investment
Similar to a basement, attic or loft conversions can add tons of value to your home. Being upstairs, a loft conversion is typically best suited to an extra bedroom, but it can be used for anything. For example, you could install it as an extra space for your growing college-age children as a space of their own, and it will add around 20% value.
Let There be Light
Renovation is expensive, but it can enhance a home and add a lot of resale value and RoI when it is done well. A popular renovation style at the moment is open-plan. This removes unnecessary walls, typically between the living area and the kitchen/diner, to use natural light. Sliding doors and large windows usually facilitate this.
The Great Outdoors
You can consider yourself lucky if you have access to your own outdoor garden space and even luckier if you can accommodate a patio or decking. Patios and decking add a lot of recreational value to your home and are designed around your home. When looking to sell, you should get patios and decking restored as they last for around 20 years.
We Don’t Have Enough Rooms
Of course, one of the best ways to add a lot of value to your home is by extending it. And while this is probably the most expensive method, it offers the greatest return and added value. The best extension to build is an extra en-suite double bedroom. This will typically add around 23% to your home’s value, with each additional bathroom adding around 6%.
Not So Crazy Paving
A driveway might not sound all that important, but it’s one of the top things a buyer looks for when deciding on a purchase. A paver driveway adds more functionality to the outside space of your home and, with the growing vehicle demand, comes in handy. Also, a driveway adds tons of value to a house of up to 10%. Not bad, considering how little they cost to install.
Unlimited, Limited Power
A key selling point of modern real estate is the efficiency of a home. Efficiency includes any appliances that come with it, such as refrigerators and washing machines. But it also extends to how well the home’s insulation, windows, and doors preserve heat. In addition, sustainability options like solar panels for clean energy and construction materials used play a key role.
Please note that some of the links above and below are affiliate links, and at no additional cost to you. All opinions are my own.