If this is the year you sell your current home and up or downsize, you’ll want to make the interior as appealing to buyers as possible. For those who do not plan to sell, you might consider a few changes or upgrades to reflect how you live now, to maximize the space you have. Either way, simple upgrades like paint or repurposing rooms can make a big difference in your personal enjoyment, as well as the offers you’ll receive from prospective home buyers. Everyone knows that remodelling a bath or upgrading a kitchen can reap huge benefits and improve homeowners’ quality of life. Here are a few additional tips to help you make the best remodeling choices to enhance your home and, if selling, to garner higher offers.
Attic Conversion: Not everyone wants to be a pack rat. In fact, more people are renting space at storage facilities than ever before. That means attic space is being underutilized. Depending on the size of your home, an attic to bedroom conversion will cost as little as $5 thousand dollars to upwards of $50 thousand. According to Remodeling Magazine, the return on investment is about 85%. Many who go this route add a master bedroom suite, a bonus or recreation room, or private space for their adult children. Be aware that homes with more bedrooms generally command higher prices, especially if an en suite bathroom is added as well.
Second-Story Addition: If your home is built on slab, without a basement, and your garage ousted your family car years ago, the only way for you to add space may be to build up. Second story additions can double your living space, at a fraction of the cost of moving. This is a great option for those whose starter home is now too small, but the location, schools, etc. would be hard to duplicate elsewhere.
Add a Fireplace: If your wish list included a fireplace and your dream home lacked one, now is the time to upgrade. Prices and options vary. A simple stove can be a few hundred dollars, while a full two-story dramatic hearth can cost thousands and require building permits. The result will be the perfect place to gather for warmth, family enjoyment, and holiday cheer!
Basement Remodel: For empty-nesters especially, finding and repurposing the space in their homes can be rewarding. If dad has been eyeing this spot for his man cave, or if the extended family need a place to play, consider reclaiming this long-neglected space. The simplest route is to waterproof the walls, paint them, and organize the space into different purposes using area rugs to demarcate. There are also wall panel systems that are mold and mildew proof, as well as contractors who specialize in renovating basements to their client’s individual needs. The ROI for this remodel averages 75%.
Repurposing a Room: It is a simple fix if your children have moved out (perhaps temporarily) and you have a few more years until you have to downsize or remodel the house to welcome visiting grandchildren. Many bedrooms convert easily to home offices and may include a Murphy bed for overnight guests. A sewing room is also an easy conversion. For those with one car and a double garage, adding heat and a bathroom can quickly increase your living space and the value of your home. Consult a contractor for details.