With more and more employers offering flex time and the luxury of working from home, incorporating a home office into your house is quickly becoming a necessity, rather than a luxury. Millions of Americans work from home, and that number is growing quickly. Creating a dedicated work space not only adds value to your home, it’s also tax deductible!
If you think adding office space to your home is a cost-effective way to increase your home’s value, consider adding outdoor space and a deck! Per Home and Garden Magazine, more than 85% of your wooden deck’s cost can be recouped when you sell, compared to 78% on a bathroom renovation, and 68% on creating an open-concept living room. Also, consider adding unique features such as a brick fireplace and seating area to create a functional outdoor living space for yourself and for entertaining guests.
Thirty percent of a home’s energy is lost through its windows. By replacing older windows, you not only modernize and improve the aesthetic of the house, but save on energy costs as well! With the shift towards green practices and energy efficiency, updating your windows could be one of the best ways to add to your home’s value and avoid sitting on the market. Plus, who doesn’t like to save money on heating bills?
Instead of creating a new addition to your home, why not find a more effective way to utilize one of the largest spaces in the house? An updated basement can serve as a large recreation space to accommodate guests, provide a ‘man-cave’, or even bring in revenue as a room-for-rent. With the rise of services such as Airbnb, having an extra room to rent can bring in upwards of $1,000/wk!
Pro-tip: Add a bathroom, and extra storage, but try to avoid adding extra walls or hallways, as these can make an already dim space feel smaller and darker.
If you’ve ever lived in a home with several people and a single bathroom, you know how valuable these rooms are to potential buyers. Adding a bathroom, especially a spacious bathroom attached to a master suite will add considerable value to your house. “His and hers” vanities, large showers, and elegant tilework are what buyers are looking for, and additional amenities such as a whirlpool tub, skylight, or heated tile will add extra luxury. Don’t be shy on spending – the average bathroom remodel will provide excellent return on investment, especially in houses that only have one!
‘Nuff said. Remember to use tape and, if necessary, hire a professional! If selling is your goal, neutral colors that fit into a broad range of color schemes work best, and won’t upset any prospective buyers.
Nothing is harder to overcome than a negative first impression! If your house doesn’t look appealing from the outside, there’s a good chance a potential buyer will never make it up the driveway. On the other hand, if a potential buyer is impressed by the exterior appearance of the home, he may be more willing to overlook issues that arise once inside. Raised garden beds, a fresh coat of exterior paint, and a well-manicured lawn are great and inexpensive places to start!
If you’re a fan of the HGTV show series, “Love it or List it”, you may have heard the phrase en suite. In fact, 33% of home buyers in 2016 reported that a master suite was a requirement for them when considering a new home. These spacious private hideaways give parents a reprieve from the noisy common areas in the house, and add a feeling of comfort and convenience in having an accessible bathroom attached. Plenty of storage, spacious bathrooms, and a private attached deck are great ways to add a little something extra to the master suite and create a private paradise away from the rest of the house.
The roof is one of the first impressions people have when viewing your home. Make sure yours doesn’t fall flat with missing shingles, broken or rusty gutters, or worse! Although, typically spending money on a new roof does not yield as effective a return on investment as a bathroom or kitchen remodel, a patchy roof can give the impression that the homeowner has not kept up with routine maintenance, and may be the first sign of expensive repairs looming on the horizon.
The kitchen is known as the heart of the home for good reason. An updated kitchen appeals to a buyer’s emotion and sets the tone for the rest of the house. When done right, you can achieve a net-gain on investment by improving the functionality and appearance of your kitchen and dining area. Plenty of counter space for food-prep is a must, with granite being a popular choice! Stainless steel appliances add class -- and for the entertainer, an island counter adds extra space for guests to hang out and enjoy themselves! For more modest budget options, begin by replacing cabinet doors and hardware, and make sure that your appliances match. A little care and thoughtfulness goes a long way.