Whether you’re selling or not, you’d want to make sure your house has good value. What it’s worth depends on many factors.
Some of them are out of your control, like its location and the current situation on the market. However, there’s still plenty you can do.
Making smart improvements and keeping up with repairs are sure ways to increase your home’s value. Whether you want to get the most out of it when you sell, or just want to build equity, here are some tips that could help you.
Add an Extra Bathroom
If you have one bathroom, adding one more would be a smart move as it can recoup a large portion of your investments. But, you need to figure out where to put it.
Look at underutilized areas or extra rooms. Areas under the stairs or larger closets can work great as well. You need at least 18 square feet if you want a half-bath.
You need at least 30 square feet if you want a full bath with a stand-up shower. Make sure you have at least 35 square feet if you want a bathtub.
The cost of such a project depends on the accessories and features you want. Be on the lookout for deals on toilets and sinks.
Stores like Home Depot often significantly slash prices on units that have been floor models. Check your local Habitat for Humanity ReStore. They often have great prices on fixtures, toilets, doors and tubs.
Reinvent a Room
Tread carefully with this one. Adding a new room can be quite expensive. But, if you are careful, you can recoup anywhere from 50 to 80 per cent of your investment. And, who can say no to more square footage?
If you do it right, you will have money by reinventing the existing space in your house. You could turn your attic into a lovely bedroom. How about finishing the basement?
Many homeowners opt for adding small apartments over (or in) their garages. You could even rent it out. But, try to think about the ways you and the future owners can use the space before you start demolishing walls and rafters. Here are a few things to keep in mind:
The attic can also work well as a game room or craft room. The higher the ceiling, the better.
If the ceiling is particularly high, you can add swings to the rafters. You’ll have a cool playroom just for kids. They will appreciate it.
The basement should also work well as a game room, or even as a second living room. There’s also the option of turning it into a small room for a tenant or ageing relative.
Add a Wood Deck
Research shows that a proper wooden deck can recount 100 per cent of your investment. Hardly anything else can compete with that. It’s a beautiful addition, and yet it’s so cost-effective.
You can rest assured that your investment won’t go down the drain. On top of that, you’ll secure a great setting for an evening of relaxation with the family. Wood decks have the best ROI as the material is quite affordable.
Configure the Ductwork
Ductwork is one of the most important elements of your home. That especially goes for the kitchen. The ductwork clears the air of fumes, odour, fumes, oil, grease, and smoke. Prospective buyers would want to cook in a healthy environment.
Proper ductwork provides great energy efficiency. A cost-efficient house sells well. If the ductwork is faulty or just old, it can significantly affect the temperatures and air quality. The effects of ductwork on quality of life are more tangible than most people think.
Make sure you put in a bit of work into your home every once in a while. Proper maintenance is sure to increase the value of any house.
Get rid of any mould, replace wood that rots, fix the roof if it leaks, and keep the paint fresh. By doing so, you’ll keep your house from deteriorating over time.
Sings of routine maintenance are a good signal to potential buyers. Everyone wants a safe, solid, and healthy home.
As a takeaway, remember to exercise restraint. Take a look at the houses in your neighbourhood.
Don’t try to top every single one of them. You don’t want to increase the value of your home by too