Looking to add value to your home? Adding value to your home is smart whether you plan to sell anytime soon or not and you will find that there are a number of innovative ways to boost value. In addition to increasing the value of your home, you may also find that these improvements can improve your life in a handful of ways too.
The property market can be competitive, which is why it is important to identify innovative ways to add value that will help your property to stand out from the crowd. So, what are a few innovative ways to add value to your home? Keep reading for a few ideas.
1. Basement/Loft Conversion
Do you have a basement and/or loft? Many homeowners have these rooms in the house but use them for little more than storage. This can be a huge waste of space, especially when it can be relatively easy to convert these areas into a livable space. Basement and loft conversions are easier and cheaper than building an extension and a smart way to improve your home and add value.
Basement and loft conversions will give you extra yardage to work with in your home. There are many ways that you could use these spaces to add value, such as:
- Home office (a major real estate trend right now)
- Guest bedroom
- Entertainment room
- Home gym
Buyers will always be looking to make the most out of every space. A conversion will add an extra room to your house and make it much more appealing to buyers.
2. Outdoor Kitchen
There are few things better than firing up the BBQ and cooking up a feast during the warmer months of the year. A great home addition that can improve your life and add value is to build an outdoor kitchen. Whether you are cooking for guests or simply cooking a midweek meal for the family, you will find that you will gravitate towards an outdoor kitchen particularly when you also have a nice social space outside.
Building an outdoor kitchen is a big project that will require investment. You will need to think about the kind of grill that you want to use, countertops, storage and a sink. Although this can require a fair amount of spending, you will find that an outdoor kitchen can add a significant amount of value and make your home much more attractive to potential buyers.
3. Bathroom Remodel
It is often the bathroom that brings down the value of a property and deters potential buyers. There is nothing worse than a dingy, unhygienic bathroom and this can lower the tone of the entire property. Additionally, these days bathrooms are seen as more than just a practical space. Bathrooms can be used for self-care and improving mental health, so they are important areas in the home.
A bathroom remodel is one of the best ways to add value to your home. You can revitalize this space and turn it into an attractive, calming and welcoming space. A few of the best improvements that you can make to the bathroom include:
- Standalone bathtub
- Rainfall showerhead
- Walk-in shower
- Maximizing natural light
- Plant life
Additionally, if you only have one bathroom then adding a second bathroom is a smart home upgrade that could add a significant amount of value.
4. Guesthouse
Increasing your living space is one of the best ways to add value, but building an extension is a major project. One of the smartest and most innovative ways to add value is with a standalone guesthouse. An accessory dwelling unit (ADU) is an easy and cost-effective way to increase your living space and create a smaller secondary residence.
These accessory dwelling units are known as an in-law suite or carriage house and can add value to your property. Essentially, they provide an extra living space that is completely self-contained and offers privacy. This makes them ideal for visitors (hence why they are called an in-law suite), boomerang kids, multi-generational households or those with elderly parents.
There are a number of key factors to consider when building a backyard house. You will want to take your time when building a carriage house to make sure that you are abiding by housing laws – many of these changed in recent times with the boom in ADUs.
5. Conservatory
A conservatory is a smart way to add value and improve your home. This is because it blends the inside and out so that you can enjoy the benefits of fresh air and views out to nature while still enjoying the comforts of home.
Not only will a conservatory help you to feel closer to nature and maximize natural light in the home, but it is also a space that can be used in many ways. It could be a room simply for relaxing, it could be turned into a dining room, it could be used as a studio for art or turned into a home office just as a few examples.
Turning this into a useable space in the home will help to add value because it improves the property and increases your living space. You will want to explore your options when planning a conservatory and ensure that you have double-glazing to avoid heat loss. It is a smart idea to speak to a few specialists to come up with plans and to see how you could best use the space.
Innovative Ways to Add Value & Improve Your Home
These are 5 innovative ways that you can add value to your home. Whether you plan to sell anytime soon or not, it is always worthwhile taking steps to add value to your property. These are 5 ways that you can do this that could add a significant amount of value while also improving your life.
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