How to Increase Home Value

Top 10 Home Improvements + Bonus #1 Way to Increase Your Homes Value

We all want to live in our dream home right? Some people call this your “forever home”. However, our budget, job, school and time constraints don’t always allow for this to happen, at least right away. The next best thing to do is modify the house you have to increase home value for your use and for future purposes.

Are you thinking of selling your home? Maybe you’re a new or up coming empty nester and you realize that it’s finally time to downsize. If you’re like the majority of the market then you’ll probably plan a year ahead to make your move. You want to make sure that you maximize the sale price of your home to put some investment into your retirement plan.

On the other hand, you may be in your dream home now. It may have everything you want minus a few improvements you’d like to make. You want to make sure your improvements will increase the value of your home in the long run when it finally is the time to move.

In either case, here is the list of the Top 10 Home Improvements that will increase the value of your home when you decide to make the move and sell.

1. Garage Doors

I bet you haven’t thought of this – #1 fast way to improve your home’s value & lower your energy bill.

Garage doors are fairly cheap to install. They improve the curbside appeal of your home substantially in comparison to the cost. When a potential buyers drives up to your home they are assessing how it would feel if this was their home. Often the number two most important asset to someone on a personal level is their vehicle. Because of this close and personal connection people want a safe, warm space to store these assets.

Asset Protection

Whether it’s a sports car, recreational off-road vehicles, SUV’s or other motor vehicles, the garage plays a big role in the proper storage of these assets. New and stylish garage doors gives the potential buyer an immediate sense that the house is up to par and gives them a peace of mind that the storage compartment for their second most valued asset, their vehicle, will be stored well.

Home Security

Another big role the garage doors play in a home is security. When assessing the current condition of the garage doors, here are a few things to consider when it comes to home security. First, are the garage doors solid?

Second, is there an alarm system set up that includes all garage door entry points? Third, what sort of automatic remote control system is installed for the large bay doors? Is it a secure system or can it be hacked easily? Fourth, if the glass is broken on the single exterior door, could someone gain assess to the home? Is the glass positioned in a way that even if it was broken someone could not unlock the door? Fifth, if someone does gain assess to the garage how easy or difficult is it to then gain access to the rest of the home? This is especially important if the garage is connected to the home.

Last, what sort of motion detection is installed on the exterior of the garage and home? Are they bright enough and sensitive enough to help deter an intruder? All of these facts will weigh in on how safe you feel about your home and how safe a potential buyer will feel as they consider buying.

Energy Efficient

A third aspect of the garage doors is how energy efficient are they? Are they well insulated? Do they block out the high and low temperatures outside? Do they help reduce mold and humidity? Well insulated garage doors go a long way in helping to reduce your monthly energy bill. Replacing old garage doors could save you a lot of money on a monthly basis. This money savings could potentially pay for the cost of the doors over the course of the first year after being replaced.

Improve the look of your home by replacing old garage doors. The average cost is $3500 and is well worth it. This is the same value by which it will increase the value of your property giving close to 100% cost to value ratio.

 

 

2. Walkway to Front Door

Curb Side Appeal

Your front walk-way is a good investment when it comes to cost to value ratio. It will typically bring you 100% of your cost back in equity when you decide to sell. More importantly, it will bring you high value during your own personal use for several reasons.

The surprising truth most people don’t realize about their curbside is that it says a lot about the owners personality. People realize this unconsciously but don’t typically make the direct connection outright.

What’s the State of Your Curb Side?

Curb side appeal is much more then providing a first impression to passers by. It communicates a lot about your personality and current state of living. If the front facing portion of your home is clean and in order, chances are, so are you. And vice versa. If you can’t even keep the front public facing portion of your home nice then what about the inside and back yard?

First Impressions

Think about it. When you approach someone’s front door all of the details about their curbside are communicating to your unconscious. By the time you step onto the front porch you’ve already arrived at an evaluation about what the owner will be like. Your first impressions are usually confirmed when they open the door.

For example, if the front yard is unkept, the walk-way is blocked by toys or other objects and the front porch is dirty – how are you feeling as you press the doorbell that may or may not be working?

On the other hand, if the front yard is trimmed, cut, cleared, watered and the walkway is clean with no green mildrew in site you’re going to be feeling pretty good as you approach the front porch. As you step onto it if there are some new looking, clean accent features with a front door that looks clean and inviting you won’t hesitate at all ringing the door bell.

Chances are, the person opening the door will match the condition of the curbside. Maybe reading this has you thinking you might want to get your leaf blower out and clear away some cobwebs from around your front windows. If so, get to it!

Whether you like it or not, people judge by first impressions and your curbside is a first impression to every single person that comes to your house and that just simply drives by.

Safety

The second value your curb side brings is safety. Whenever you’re hosting guests it is very important to have a clear, well lit, safe path to your front door. It’s not only inviting, it’s a liability risk that you are reducing. You certainly don’t want any invited or uninvited guests stumbling and falling trying to make it to your door. You could lose a friend, a court case, or both.

It cost an average $5,000 to install a nice stone step walk way that is lit and landscaped. This investment increases your home value by about the same.

 

 

 

3. Front Porch

The most undervalued room in your home is not even inside your home. It’s your front porch.

This stealthy piece of real estate commands attention and sets the pace for all incoming guests and residence. Although its square footage is not officially included on paper don’t be fooled. The value of the front porch is very high.

The front porch is center stage for all sorts of scenes. It’s the first and last place a date stands when he takes your daughter out on a date. It’s the place where packages are placed. Meals are delivered on the front porch. Your guests pass through this space on their way inside and on their way out as they say goodbye. It’s the gateway to your home, your family and your own well being as you come and go every single day.

Your front porch communicates all sorts of things. For example, if you don’t like company then make it stark and cold. Place a large video camera in clear view. Heck, even throw in a keep out sign.

However, if your the type that actually likes people and guests then make it a Pier One Import welcoming room. Place inviting furniture that communicates, “take a seat and stay awhile”. Use it as a canvas to communicate your personal style and artistic flare.

Your front porch and front door are also judged by cleanliness and quality of materials. If your porch has nice flooring with new paint and decor anyone who is entering your home will breathe a sigh of relief with happy expectation before they even set one foot inside your home.

Average cost for a front porch remodel is $6,500. Improved value is 93%. Value for a good first impression – priceless.

 

 

 

 

4. Kitchen Remodel

Guess which room in your home is better than a professional therapist. If you guessed the kitchen – you’re right!

You may wonder, “how can a room filled with metal, stone and fancy sliding wood replace a therapist?” Here are two primary reasons why;

Survival

First, the kitchen is filled with food. Hello!? What better comfort to everyone in your home then food? When the sky is falling what do people do first? They run for the grocery store to stock up toilet paper and food!

If you think calamity is around the corner but your shelves and frig are filled with comfort food, somehow you feel like everything is going to be ok. Your survival instinct and anxiety levels are quieted. The fear pouring in from the nightly news can wait until after dinner. And desert.

Connection

There is also another therapeutic aspect to the kitchen. Now that the eat in feature has been popular for at least ten years most kitchens have it. The eat in kitchen typically includes an island with a bar and bar stools for people to sit and eat and talk while someone else is drumming up more food and drinks in the primary kitchen prep area. This is where all the magic happens. In case you haven’t realized it, the therapist couch has been replaced by the eat in kitchen.

This creates a strong opportunity to connect with family and friends that would otherwise be missed with today’s hectic schedules. Family’s don’t sit around the formal dinner table as much anymore due to extra-curricular activities. If it’s not sports after school it’s loads of homework or take home work for adults. These added responsibilities make it very difficult to have a lengthy formal sit down dinner.

It’s much easier to whip up something quick and serve it while in motion. People can pull up a bar stool and enjoy a meal without having to create a mountain of extra serving dishes to clean up afterwards. The multi-tasking continues as the eat in kitchen area is usually loaded with charging stations to dock devices and give online a rest for a few minutes while connecting in person.

Regardless of if the kitchen has the all important eat in feature, here are two more features that raise the value of your kitchen in a big way.

Organization

An organized kitchen saves time, reduces confusion and helps keep everything sanitary. The organization of your kitchen is increased by loading the cabinets with smart space saving features such as the gliding silent drawers, built in lazy susans and cabinet to ceiling configuration.

Lighting is part of organization. Under cabinet lighting and the provision for electrical outlets for plenty of appliances and charging capacity is important. Lighting should be energy efficient as well as have the capacity to be programmed for automation.

Materials

The final important aspect of remodeling the kitchen is the materials, appliances and finishes. Countertop material choices are endless. The aspect that is consistently popular is choosing a seamless material that is easy to clean and anti microbial.

The backsplash doesn’t have to be seamless. However, it makes it easier to clean. If there are a large number of people in your home – especially children and teenagers – this element becomes very important. The less time spend having to deep clean cracks and grout the better.

Appliances

Energy efficient and gourmet appliances are important. Installing quality appliances helps to provide the best possible meals and the best experience cooking and cleaning up.

Finishes

Selecting quality finishes is the grand finale of the kitchen. If you’re thinking of selling then you’ll want to stick with the most popular finishes that match the overall style of your home. If you’re thinking of staying a while and want to get a little artistic now is the time. Hanging light fixtures are the focal point of the room. There are at least two opportunities with these. They include the hanging light piece for the kitchen and the hanging light piece for the open room and formal dining room that may be connected or just off of the kitchen. All three of these pieces should match or tie together is some meaningful way.

The second most important finish is the cabinet hardware. These should also tie in with the overall style of the home. They can also match the rest of the cabinet hardware used throughout the house. When changing out the hardware on the cabinetry be sure to change all of the hardware including hinges, pulls and knobs.

Priceless

Your kitchen has the highest traffic count. Every person in a home will visit the kitchen at least twice every day. Your kitchen is the hub of the family. It’s primary role is food, communication, time together and enjoyment. Because of this extremely high value it’s worth it to invest a good amount into making it one of the best rooms in your home. Buyers agree.

When a buyer views a home the room they spend the most attention on and have the highest comments for is the kitchen. A minor upgrade of a kitchen averages $30,000. You may have purchased your home with a layer of kitchen upgrading done. If so, pick up where the updates were left off and add on another layer of investment. It will bring you back 98% of your cost not to mention your personal enjoyment.

 

 

5. Master Bathroom

3 Secrets Every Couple Should Know

Knowing these will make all the difference in the world – every single day. Ok, you may be thinking this sounds a little dramatic and too good to be true at the same time. It’s not, and I’ll prove it.

One thing is certain, it’s no secret that there is no perfect couple. Everyone has their ups and downs. Their good, bad and ugly that inevitably spill out all over each other. We can’t help it, we’re human for goodness sakes.

Having said that there are some key logistics that can and should be arranged in order to give yourselves the best possibility of staying together AND being happy about it. These three tips can change your relationship for the better in drastic ways and they all three involve the master bathroom. Here we go;

Tropical Vaca

Everyone deserves a tropical rain forest vacation now and again. How about bringing that experience right into your master suite to enjoy daily?

The master bathroom should have a big sexy two person walk in shower. This shower is a primary feature of the master bath. When you step into it you should feel like your on a wild adventure underneath a tropical waterfall.

It should give you as a couple the ability to feel lost in the moment whenever you chose to take advantage of the situation. The shower needs plenty of see through glass, non-slip easy to clean tile, two shower heads and both should have multiple massage settings. A few other bonus features are a bench to sit or put your legs up on and heated tile for when you step out. It’s also not a bad idea to have a voice activated sound and light system.

For obvious reasons that won’t be typed out here this shower is a must have for couples. An additional bonus to the master shower it that it is easy to get in and out of. This is something we’ll all have to consider as we age and can’t climb into a tub any longer.

Double Not Trouble

Separate closets are a must for every happy couple. Depending on the luxury level of your home they can be simple or elaborate. At the simplest level it is two closets that are separate. Now, I know newer couples are excited to share everything. It might seem sort of romantic to share a closet at first. Believe me when I say this will wear off – figuratively speaking – rather quickly.

In the hubbub of daily life it’s very important to have a place to keep your attire in the order that you like. Maybe you’re someone who likes to have everything dry cleaned, ready to go and in order. You need your own closet to accomplish this. In contrast, if your partner just happens to be your opposite and you share a closet this could be the ruin of your relationship. If they like to have creative chaos then let them – in their own space.

Removing these types of logistical traps before they become a major problem is a great proactive way of keeping the happiness alive. As a side note the same goes for the double sink vanity. Be sure to make it a double sink, not a single. Nobody wants to be faced with what could have been left behind from their partner as a “present” in the sink. This is a major romance killer.

Privacy Please

The third feature that a master bathroom should have is a fully closed toilet. Most men would think that they don’t care one way or the other on this one. However, what goes on in the toilet should stay in the toilet.

Having that space enclosed with a door is an important way to keep it tucked away. Out of site, out of mind. If your partner is one who communicates that there should not be anything to hide they are full of *hit. We all know there are times when it’s a good thing to have a door shut.

Investing in these three features could save your relationship. Better yet find a home that already has them. If it doesn’t the average cost for a master bathroom remodel is $40,000. When you consider the value of having a happy healthy relationship, upgrading this very personal space brings a hefty return on investment.

An additional incentive to invest in your master bathroom is that upgrading it increases the value of your home more then improving any other bathroom in the house. Buyers view all other bathrooms as minor in comparison to the bathroom they will be using.

 

 

 

6. HVAC

Don’t Neglect This Appliance or This Might Happen to You

Replacing your HVAC unit(s) doesn’t sound exciting. However, this is an item that increases the value of your home and must be disclosed when selling. Most buyers want to know how old the units are. If they’re more then 10 years old then a potential buyer will most likely try to get the replacement cost negotiated into the purchase agreement.

If you’re able to say that your HVAC unit is 5 years old or newer and has a warranty then this removes that item from being a negotiation point. It also puts buyers at ease knowing that a large maintenance replacement item for the home has already been taken care of and they don’t have to worry about it for a while.

The newer HVAC units all come with a thermostat that can be scheduled and controlled with an app on your phone. If your buying pool will most likely be first time home buyers then be sure to upgrade yours to include that feature.

A new HVAC unit has the added bonus of reducing your energy bill while you are still the owner. Replacing your unit or more then one unit for larger homes is pricey. Each unit typically start at $10,000 depending on the capacity, features and brand you chose.

 

 

 

 

7. Outdoor Room

This vacation never ends because it’s in your own backyard. Be inspired to get yours started. This is not your parents patio. The outdoor room I’m talking about is an outdoor-in room. It has a roof structure. If you have a deck you can build it underneath to take advantage of what’s already in place.

Key Features

It has water proof flooring such as tile or stone. It may or may not have an outdoor fireplace built into one of the walls. Sitting above the mantle of the fireplace is a large screen TV. The ceiling is equipped with lighting and a surround sound system.

The fireplace is not a requirement but it is one of the features that really takes this space to the next level. Installing an outdoor fireplace is not cheap but worth it. It will add quiet a bit to the ambiance of the room. You can do without it but you’d be removing a lot of the romance and entertainment excitement from this space.

An additional perk to the fireplace is that it extends the use of this room into more seasons. When it starts to get chilly just fire up the fireplace and stay nice and toasty. If that isn’t enough you can add a few outdoor space heaters too. These can be installed along the upper wall line or you could add some restaurant style movable space heaters.

If you’ve made the right decision to include the fireplace you might as well also think about building a brick stone pizza oven next to it. A good builder will know how to incorporate both features in the fireplace structure.

Other features you can add as built in elements include a BBQ and mini kitchenette. This comes in handy when you don’t want to carry all of the food, dishes and drinks back and forth from the house. It’s nice to have all of that self contained and ready to be used.

Outdoor Venue

It can be used as an outdoor luxury camping space, an added area for extra guests if your house gets filled up and a fantastic place to throw football parties and other events.

This outdoor entertainment room will cost anywhere from $40,000 to $120,000 depending on the features and materials used. What you receive for this cost is a resort style space in your own backyard that will draw your friends over time and again.

Unofficial Value Booster

On paper you won’t be able to include this in your home’s square footage. Initially this doesn’t seem like it will help increase the value of your home. However, your real estate agent can include the cost for this room and the square footage as an added, exterior space so that it will still be on paper.

Especially if you have recently had this room built and used a reputable company it will sit nicely along with all of your other home listing information. The real benefit kicks in when a buyer tours your home. This space will make your stand out from the competition in a big way.

As they stroll through your home taking in all of your great interior features they will be mildly impressed. Once they step outside you will be able to see visible excitement as they visualize themselves having fun. This is the element that will take your home over the top and out of the norm. Any buyer that is able to walk through this fun outdoor space will be hard pressed to walk away without giving you a solid offer.

 

 

8. Deck

Adding a deck to a home adds an additional entertainment room without a high cost. It provides a clean, organized space for a BBQ, party or comfortable time out in the sun. Even a simple deck can be dressed up to feel like a stay-cation get-a-way.

Chances are there are improvements that can be made to your current deck to bring it to the next level. For example, it may need to be refinished.

You can create an additional shaded patio area by installing an under deck water system. Enclosing the deck with pillars and screens helps to keep the bugs away.

Or, you can completely enclose the deck to add a sun room. A fully enclosed sun room creates an air controlled, bug free room. The average deck comes in at $10,950 with 83% of that cost increasing the value of your home. In addition to the equity increase, the enjoyment factor of the deck should give you plenty of motivation to add or improve your deck.

Your decks square footage cannot be included in your home’s listed square footage. However, you can list it as a separate outdoor feature and include it’s square footage that way.

When pricing out your deck improvement be sure to get a quote to completely enclose it. If you enclose your deck and provide heating and cooling to it you can include that square footage in the overall house square footage. Increasing your homes total square footage will give you the biggest value increase.

 

 

 

9. Window Replacement

Replacing your windows costs an average of $20,000 depending upon the number of windows and window selection you make. The return on investment is 74% without calculating the utility bill savings you’ll experience with the improved energy efficiency. Window quality has increased a great deal in recent years. As soon as you have new windows installed your energy bill will go down.

Asset Features on Paper

This is another item that sits well on paper if you’re planning on selling your home. Listing new windows along with the company warranty goes a long way in adding value.

Replacing windows is something that should be done about every 15 to 20 years – similar to the roof. If you’re proactive and have this done before selling you’ll remove this item from being one that a buyer could try to negotiate down the sale price for. The less opportunity a buyer has to reduce the sale price the better for your bottom dollar. Don’t let leaking window seals cause you to lose money on the sale of your home.

Getting Out of Buying New Windows

On the other hand, if your windows are in fairly good condition and you don’t want to have to pay to have all of them replaced here’s a way around having them be a negotiating item. Check all of the seals on your windows and replace any that are lose or cracked. This is something that a home inspector will check.

The cost to replace seals can be done yourself or you can hire a handyman to come and do a window once over. In addition, check and repair or replace any screens that have the same issue. This is a cheap and easy fix and will help you get out of replacing all of your windows.

Sound Barrier

Another thing to consider when it comes to windows is if your property is near traffic noise. If it is and your windows are more then 10 years old then it would be smart to have them replaced. Choose windows that are especially good at blocking sound. This will improve the interior sound quality and look good on paper.

Avoid this Window Pitfall

One final thing to know about windows when you’re selling your house is that it’s a very common item that is requested to be replaced during the inspection period of selling your home. This happens especially when you have a window pane that is foggy.

Be careful about this. If you agree to replace even one single window pane and don’t have it replaced in time you could have your purchase agreement go into a void status. You don’t want to come to the final walk through of the sale of your home and have the entire contract fall apart because you couldn’t get a window repair company out quick enough to have the window pane replaced.

If you have custom windows the order for your specific window pane could take a lot longer then expected. Be sure to have your real estate agent stipulate a grace period after the closing date for the window replacement.

Better yet, have your agent negotiate the price of replacement instead of the actual replacement. This way your not on the hook for getting it replaced and in danger of having your contract fall out at the last minute.

Everything and the Front Door

One last item that is related to replacing your windows is well worth mentioning. The front door. Consider replacing your front door if it is as old as your windows. The front door makes the biggest impression. It’s similar to a book cover. People often read your home from your curb side appeal. Your front porch and front door are an important part of your curb side.

When you’re pricing out your windows get a quote for a new door while your at it. Often you can negotiate a discount when you buy both at the same time.

 

 

10. Roof Replacement

The average roof replacement costs $20,000 yielding a 68% return. The return factor does not take into account that roofs typically last 20 years.

If you’re planning to sell your home consider having a new roof installed. This increases the value of your home.

Age Disclosure Requirement

Your roof’s age is required to be reported on the disclosure statement and presented to all prospective buyers. In addition, some buyers may request roof repair or partial roof repair which can put you in a difficult selling position. You could be pressured to pay for all or part of a roof repair if it’s old or damaged.

Be proactive and replace your roof to avoid this type of scenario. In addition, a new roof will eliminate leaks that can occur with older roofs that can cause expensive water damage to your home.

A new roof makes the entire house look newer. When you have it replaced be sure to keep a copy of your warranty. Most roof warranty’s are transferrable at the sale of your home. You’ll want to have this information handy to provide along with your home disclosure statement. Most roof warranty’s cover at least 10 years.

Drainage

One final consideration when replacing your roof. Take assessment of your drainage system. You may want to have repairs done or have it replaced at the same time. Usually the roof and drain pipes are the same age.

Installing a new drainage system will ensure that the drainage around your home is in good condition. All drainage issues eventually lead to foundational issues.

A foundation or water damage issue can be considered major in any home inspection report. A potential buyer may want to walk away and even the slightest inclination of a foundation issue. At the very least they will want a repair budget amount taken off of the sale price.

 

 

11. Bonus – #1 Way to Sell for Top Dollar

In my college days I was a store manager for Bath & Body Works in Marina Del Rey, California. I liked it because of the constant new product and marketing that the company would task me and my team with each and every month to market and sell. There was always a new scent, new displays and new specials. I managed this store for two years and so saw the seasonal cycles that retail stores go through.

Holiday Frenzy

One of the most hilarious seasons was Christmas. Each Christmas happened exactly like the last. The number of customers would increase starting on Black Friday. The smart shoppers would come in with their coupons and know exactly when to load up early on Christmas gifts.

December was different. Beginning December 1st there was no more special pricing or coupons. Everything was regular price. As the month started shoppers came in to get their share of Christmas gifts. Our store was popular because our team would gift wrap anything needing to be wrapped for free even if it was just one bottle per wrapping.

Low Inventory Equals High Prices

An interesting thing occurred as Christmas neared. Slowly and gradually people started to get an anxious look on their face. They started moving faster, grabbing product off of the shelves quicker. December’s sales were usually triple that of a regular month.

Then came Christmas Eve. Our entire staff was on the floor all day. Our store was open until 10PM. In the morning we started basket wrapping. Our bundled and ready made wrapped offers were snatched up as fast as we could make them.

The closer we got to closing time the more frantic our shoppers became. They would run in and grab up anything in site without a glance at the price. There was no haggling. No one asked what the specials were. Nobody asked for a promo code or discount.

They were thrilled to have found a store open and one that they could buy something in. You see, most of the other stores in the area were already closed. Their choices were slim. And they were very happy at what they got. By 10PM our shelves were empty. A few male shoppers were reaching their arms under the closing store front gate. They would beg and bleed for anything left. The look of relief on their faces when we had mercy and sold them the last of the last from our store was priceless.

Make Your Home a Christmas Present

This same thing happens during the holiday seasons with housing. This is especially true if interest rates are low. People don’t generally like to sell during the holidays and so most people wait until Spring. This creates high inventory and choices during Spring and low inventory during the Holidays.

How to Get the Highest Sale Price

If you want the highest possible sale price for your home then sell during the Holidays. Your competition will always be low. People shopping for a house will have very little homes to chose from. Their desire will be to find something to settle into as quickly as possible to enjoy their new home during the last portion of the holiday season. In addition, because of low inventory, they will be extremely flexible and happy with what they get. They will be less apt to negotiate down the price.

If you’re ok with the inconvenience of one Holiday season and want the absolute highest sale price for your home value then plan to sell anytime from October through January. February through September will have higher inventory and therefore lower sale prices.

 

 

12. Bonus – #1 Way to Increase Home Value

Square Footage

Besides location and lot size, the square footage of your home is the #1 factor in the determination of your homes value. Of course you have no control over the location and lot size after you select your home. Now that that decision is behind you the number #1 factor you do have control over is your homes square footage.

There are a lot of creative ways to increase the square footage of your home. Some popular room additions include adding a sun room, attic conversion, separate guest house, garage guest suite and garage room conversion.

Finished Basement

One of the best and easiest ways to increase your square footage is if you have an unfinished basement. Finishing a basement will increase your square footage as well as room options for your home. There are so many different rooms that can be added to a finished basement. A few options include a gym, movie theater, kitchenette, guest suite, bonus room and office.

VRBO

In many cases you can configure your finished basement as a guest suite for in-laws, guests or VRBO. Renting out this space either seasonally or long term can provide a new stream of income. Whether you use the space for your own enjoyment, for a new work space or to rent out it is a great long term investment.

The ROI on a finished basement is typically double. This means whatever cost you paid to finish it you will receive a return of double what you paid. For example, if you pay your contractor $110/sq ft to finish your basement, most likely when you sell in six months or more you will receive $220/sq ft back for the additional finished square footage when pricing the sale of your home. These numbers vary depending on your location and market conditions but they give you a general ballpark on ROI for adding square footage.

Sunroom

Adding a sunroom is a great way to increase your home value. If the sunroom is finished, fully enclosed and has heating and cooling you can include all of the additional square footage to your home’s official listed square footage.

Having a deck or patio structure in place already to convert may or may not save money on the addition. It will depend on the condition of the current structure. If it is more then ten years old chances are it will need to be fully or partially rebuilt in order to have the sunroom built properly.

Southern Comfort

A sunroom is a smart addition to any home, especially if you live in the South. This fully enclosed room provides the ability to enjoy the outdoors behind protection. Bugs are kept out while you enjoy a sun filled room. Plants also do really well in a sunroom. Many times you can grow things that wouldn’t last if they were out in the elements all year round.

Room Addition Ideas

A sunroom is very flexible. It can be an added entertainment space, a game room, a library lounge, a greenhouse, an extra guest suite, an office and a workout room besides many other uses.

Adding a sunroom, finishing a basement or converting other space into square footage that can be included in your homes total listed square footage is the best way to increase the value of your home on paper and in person with the added enjoyment of an additional space for your home.

Along with other market research, the Realtor market data chart was referenced for the facts cited in this article.