Style And Substance: Value-Adding Projects For Your Home

Friday, September 01, 2017

When you think about your home, how do you feel? Is your home a safe haven, a relaxing retreat or your undisputed happy place? If so, this is brilliant news. We all strive to find a sanctuary that makes us feel calm and secure. While it’s essential to feel comfortable and celebrate our individual style at home, it’s also wise to remember that your home represents a financial investment. This is probably the most important and valuable asset you’ll ever have, so it’s always a good idea to think about how you can protect and grow your money. If you’re keen to ensure your home delivers on all fronts, it may be worth considering undertaking work to increase the value of your nest. Here are some of the best value-adding projects out there.

Loft conversion

If you’re lucky enough to have a loft, you’re almost certain to make money if you convert it into a functional room. Loft space is often redundant, but it can offer a versatile range of uses. You could use the attic to create an extra bedroom, a den for teenage kids, a guest suite or a study or studio. If you have more usable space, your home will also appeal to a wider range of buyers when you do come to sell. That extra room could make the property a viable option for families, as well as singles and couples, for example. The average cost of a loft conversion in the US is around $49,000, but the figure will vary hugely according to the size of the space, the use of the room and the types of materials you use. In most cases, this kind of project could increase the value of the property by up to 20 percent. 


Extension

Extending your home may be an option if you have a growing family or you’re simply eager to make the most of your plot. If the house is relatively small and you don’t need a lot of land at the back, for example, adding an extension could enable you to create an extra reception room, a study or a large, open plan kitchen. Building an extension isn’t a cheap way to increase the value of your home, but you can really reap the rewards when you sell your home if you stick to a budget. Make sure you can cover the cost of the building work before you sign on any dotted lines. If you need more money to finish off the interior details, there’s nothing wrong with waiting and doing the final bits as and when you can afford them rather than automatically considering options like an installment payday loan. Sometimes, you have to speculate to accumulate, but don’t get into a situation where you can’t afford to complete the project, and you owe money. Get a number of quotes before you make a decision, and make sure you know exactly how much money you can afford to spend. 


Basement renovation

Like lofts, basements often represent wasted space, but they can really enhance the look and appeal of a property if the conversion is done well. Basements make excellent kitchen-diners, and they’re also great for offices, home gyms, wine cellars, games rooms and playrooms. If you are thinking of renovating your basement, it’s wise to call some local building firms and get some quotes. You may find that one company offers a completely different price to another, so shop around. The cost of a project can vary hugely, so make sure you have an accurate written quote before you sign any agreements. It’s always worth getting an idea of how much value the project could add by asking local real estate agents for advice. Looking in magazines and online for ideas and inspiration can also be a useful exercise, as it can be hard to imagine how the space could look when you’re staring at a dark, empty space. It’s particularly beneficial to consider revamping the basement if you have a small kitchen and you want to target the family market when you sell your home. The kitchen is the most important room in the house for most buyers, and a show-stopping basement kitchen could make all the difference. 


If you’re a homeowner, it’s natural to want to make your home look and feel amazing. There’s absolutely nothing wrong with focusing on interior design, but take a bit of time to think about the value of your home. Often, doing work to your home can add significant value, as well as making the property a more attractive proposition to potential buyers. There are lots of different things you can do that will boost value and make your home look even more incredible. 

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