Upgrading your home is one of the best ways you can increase the value of your house. Even the simplest renovations can help yield a huge profit on your home when it comes time to sell. So if you are looking to maximize your home’s value, check out the list below for some innovative redesigns you can do.
Redo the kitchen
You don’t have to completely remodel your home to boost its appeal. In fact, even small updates to your kitchen or bathroom can easily increase your home’s value. Updating either room can yield an 80 to 85 percent return of investment. Instead of replacing appliances, consider merely resurfacing the kitchen cabinets to give them a more polished look. Another easy, budget-friendly kitchen update is replacing drawer handles and door knobs. However, if you do have some money to spend, consider installing new kitchen cabinets, replacing a worn bathroom floor, or exchanging those tile kitchen counters for quartz or granite for a more modern kitchen design.
Split a house into apartments
In large, metropolitan areas like New York City or London, apartments are in high demand. If you live in an area with a lot of young professionals looking for smaller spaces to rent, consider dividing your house into apartments and renting out the units for immediate rental income. However, this sort of renovation is a commitment, so do some research on your area before you begin the project and make sure that there is a need for apartments.
Install a pool
Changing up your outdoor landscape can help add value to your home. This could be by installing a fire pit, creating an outdoor patio or building a deck for entertainment, or — if your backyard has the room — installing a swimming pool. Google “pool builders Tampa” for consultation in order to find out what type of pool is right for your outdoor space. There are plenty of different types of swimming pool options like in-ground pools, above ground pools, tropical pools, infinity pools, or swimming pools with added features like a waterfall or hot tub. Discussing ideas with a pool company with lots of great experience in redesigning backyards can help you make a more financially sound decision when it comes to redoing your own backyard.
Convert a loft into another bedroom
Adding an extra bedroom to your house can increase its value by 15 percent, especially if you have an attached bathroom. Consider turning a storage space — such as a loft, cellar, or basement — into another bedroom. However, before diving into this project, talk to an architect or contractor about your remodeling options. Adding an extra bedroom with an ensuite bathroom or having an in-law unit can also help boost rental income in the short term. You can easily rent out this space to travelers or young professionals looking for a small, temporary place to stay. Be sure to clear this with your city officials — some rules and regulations may not allow this.
Convert your garage into a living space
Transforming sections of your home not traditionally perceived as living areas into rooms is a great way to increase your house’s value. As long as you are okay with leaving your car on the driveway or parking it on the street, then turning your garage into a family room can be a sensible way to add more rooms to your home. Speak to a contractor or architect about this home renovation first. Oftentimes, you may need to get permission from your local authorities before converting a garage into a livable space. A garage conversion may be subject to building regulations so city officials may also need to occasionally inspect the area to make sure everything is up to code.