You have numerous ways to add value to your home, but home addition contractors and home renovation contractors have industry insights that can help you invest your dollars for the best returns. Key home additions that provide the best return expand and enhance your liveable space.
As people spend more time at home and live together with more generations, having a home that is multiusage and has pockets of privacy while also providing home hubs where everyone can gather is more important than ever. Let’s get into the top home renovations you can do to increase the value of your home value.
Kitchen Addition
Seasoned chefs, grandmas, kitchen remodelers, and people who love cozy living will tell you that the kitchen is the real hub of the home, and they are right. The size and layout of the kitchen are important considerations for homebuyers and can be a make or break in their final decision.
Adding on to your kitchen for more space and ease of use or simply remodeling the existing kitchen will increase the value of your home. How much the value increases will depend on what you are starting with.
If you’ve got a small kitchen or one that is not laid out correctly and doesn’t have features like an island and breakfast area, then a kitchen room addition or a kitchen bump out will add significant value.
Additionally, if you have a large kitchen, but one that is outdated, then a remodel is a good idea. Many home buyers are not interested in purchasing a new home that requires significant updates and are willing to pay more for a house that is up-to-date and move-in-ready.
Takeaways
- Adding a room addition or bump out will increase the space in your kitchen and your overall square footage, thereby increasing home value.
- A remodel or addition can give you the opportunity to add or expand a kitchen island as well as the breakfast area, two things many home buyers are looking for in a new home.
- Many home buyers are willing to pay more for a property with an updated kitchen rather than a cheaper property with an outdated kitchen.
Sunroom Addition
Sunroom additions allow you to expand the size of your home at a lower cost than a traditional room addition while getting the benefit of increased home value due to the added living space. For the most part sunroom builders don’t have to lay a foundation or construct walls as a sunroom is primarily made of glass, these two factors lower the cost of a sunroom.
Additionally, sunroom contractors are not required to provide heating, cooling, and full electricity, which can also lower costs. Of course, many sunrooms do have full electricity and heating, particularly all-season sunrooms. Additionally, for a sunroom to be added to your home’s square footage, it must be heated and cooled by your home’s existing HVAC system.
Takeaways
- Sunroom additions provide a cost-effective way to add liveable space to your home and increase home value
- All-season sunrooms that connect to your HVAC system are the best way to increase square footage of your home for additional value.
Basement Conversion
Home basements have incredible value and often sit unused or become a storage space. You can take this unused space and convert it into additional liveable space that can add significant value to your home.
Home renovation contractors in North Carolina have converted basement spaces into home offices, playrooms, entertainment rooms, guest rooms, in-law suites, renter suites, or a combination of any of the preceding. Any time you can add liveable space to your home, you are increasing home resale value.
Additionally, creating an apartment in the basement can provide a rental income that allows new homebuyers to supplement their mortgage costs. This further increases your home value.
Takeaways
- Don’t waste your basement space as it can add thousands to your home resale value.
- Basement apartments can be used for guests as well as for a rental income which further increases your home value.
- Working with a good custom home builder and remodeling expert can turn a dark basement into a place for a family to enjoy.
Attic Conversion
Much like a basement, attics are often unused and sit collecting dust. However, depending on the size of your attic, it can be turned into an additional floor for a variety of uses such as a bedroom, home office, library, or a secondary relaxation space. The more liveable spaces you have in your room, the greater the increase you can expect in your home value.
Takeaways
- Check out your attic and determine if it has enough space for conversion.
- Attics can add another floor to your home, providing additional space and an increase in home value based on how you choose to remodel.
Home Extension
Extending your home means adding to your home’s footprint on the land and increasing the square footage of your home. A larger home with more liveable space will naturally increase your home value.
Home extensions can range from a single-room addition to the addition of a new space with multiple rooms. Since this is an extension of your home, you’re going to find that the construction process often involves the same types of things that building a new home would involve such as building permit requirements and more.
With a home extension custom home builders and renovators will need to create a foundation and also incorporate existing electrical systems and HVAC systems. While the process can take a lot more time than a remodel of a space, it can add significant value to your home.
Takeaways
- While home extensions take a lot more time and effort than a remodel, they add significant value to your home.
- Home extensions can provide a way to add space for aging parents or adult children. Needs for such spaces are increasing and more new home buyers consider such spaces when purchasing.
Accessory Dwelling Units
You can significantly increase your home value by adding an Accessory Dwelling Unit (ADU). ADUs are fully functional independent suites that can be used as an in-law suite, guest suite, an apartment for adult children, or as a rental suite. These units can be attached to the home, built into the home, above a garage, or sit as a detached structure.
ADUs are increasing in popularity as multi-generational living increases. They provide the opportunity for families to live together but also apart for the semblance of independence. More and more buyers are taking into consideration the future needs of their parents and children when making property purchases, and ADUs are now playing a significant role in how they make their decisions.
Takeaways
- The future is multigenerational living and homes that can provide that will have increased value.
- ADUs can provide additional space while also giving privacy to the primary homeowner, which makes a home with an ADU an attractive option.
Garage Conversion
The garage is a valuable piece of real estate that most people ignore. While most view it as a space for parking vehicles or storing items, the garage can become a liveable space. Home renovation contractors can convert a garage into an additional bedroom, family room, home office, gym, hobby space, or anything else you can think of. Converting a garage is one of the more cost-effective ways to increase the liveable space in your home on a budget and increase your home value.
Takeaways
- Don’t ignore your garage, it could provide you with thousands of additional resale value if you convert it with a reputable home renovation contractor.
- Garages can be converted into numerous types of spaces, and add significant valuable liveable space to your home.
Adding a Second Story to a House
If you want to significantly increase your home’s value, home addition contractors will tell you that adding a second story will have maximum impact. A second story increases your overall square footage without having any impact on your land. A second story can add hundreds of thousands of dollars to your resale value, however, it is also quite disruptive and can require you to move out of your home for several months.
Adding a second story means you can create more bedrooms, bathrooms, and other living spaces, greatly increasing the overall liveability of your home. While costs are higher than a simple remodel, the returns on the investment are greater too.
Takeaways
- Adding a second story to your home is one of the single best ways to increase home value on a single-story home.
- Creating a second story allows you to build additional spaces that the modern home buyer wants in addition to bedrooms and bathrooms.
Discover the Value of a Dormer
Remodeling contractors will tell you that the dormer window is one of the most underrated ways of adding space and charm to your home. Adding a dormer window is a cost-effective way to add space and light to your home. The size of the dormer and the way you use it will affect how much your home value could increase.
For example, if you only have a single bathroom in your home and can convert the new dormer into a second bathroom, this could add great value. Dormers can also be used as offices, reading nooks, make-up rooms, or can simply add space for a second bed in a bedroom.
Takeaways
- Adding a dormer to your home will make you stand out as it is not a common feature in modern homes.
- Dormers aren’t just windows but can be turned into charming spaces for a home office, reading nook, lounging space, or simply a way to add light to increase the perceived space in an area of your home.
What to Consider When Choosing a Home Addition or Home Renovation
First off, the most important thing to consider when you are deciding on a home addition or home renovation is figuring out why you want to do it. Are you trying to increase your home value for the future or are you planning to sell very soon?
If you want to upgrade your home to sell in the future while also enjoying the results of your home upgrade now then you can go with bigger upgrades like a second floor. However, if you’re looking to sell soon, then a garage renovation or kitchen bump-out may be ideal.
Beyond that, your budget is very important. Decide on how much you want to spend on improving your home to increase its value. All improvements will add value, but not all improvements will yield the same return on your investment, so it’s important to talk to a home addition contractor to figure out how to get the best return on your investment.
Takeaways
- Why do you want to increase your home value (now or for the future)?
- How quickly do you want to increase your home value?
- Do you have the ability to move yourself out of your house for major renovations?
- What is your budget?
- How much of an increase in home value do you want or need?
Talk to the Alair Homes Team to Discover Your Best Solution
You can reach out to us at Alair Homes in Hickory, North Carolina for a free consultation. We can help you figure out the best home addition or renovation for your home in North Carolina to increase your home value.
Contact Alair Homes Hickory for a complimentary consultation.
