The 5 Best Renovations and Additions to Raise Your Home Value
Renovations and additions can add value to your home while improving your lifestyle. But it's important to know which projects will give you the most in return when it's time to sell. I'm sure there are many questions popping up in your head—no need to fret. I’ve been down this path with many clients before.
Today I’m sharing the top 5 renovations and additions that will add value to your home, based on my decades of experience. (Or you can start with things you need to know before a renovation.)
Ready? Let’s go!
1. Add to Your Home by Building Up
Adding a second floor to your existing single-story home can add value by doubling your living space and offering more privacy for your growing family.
You should know that you will need to take the walls down to the floorboards on the lower level to rebuild the structure to support a second story.
We did this to our 1893 Farmhouse. Although we had a second floor which had been the attic in years past, it only accommodated our daughters' and sons' bedrooms and a bathroom.
There was a one-story shed addition that accommodated our kitchen and dining room. Unfortunately, this is the area we had to take down to the floorboards. Our project was large enough that I had already made plans to move out during the renovation. Keep in mind this will likely be your case as well. (Read here for more advice on living at home during a renovation.)
We created a spacious upstairs master bedroom and bath, enlarged the kids' bedrooms, and added an upstairs laundry room and a home office. This literally doubled the size of our home and more than doubled the value.
2. Add Space With an External Expansion
When we first purchased our home, we did not have a garage. However, knowing that we would eventually renovate our home, we built a garage with a carriage house above. The space above our 2 1/2 car garage serves as my design studio. It's a great space to focus on my design projects, and at the end of the day, I can close the door and walk away.
With more people working at home, I can see this adding a lot of value to the house.
Keep in mind that many communities have restrictions on what they will allow for separate structures. In our case, we could not add a bathroom that would warrant it as a liveable space. But, for me, that's no problem. It allows me to get some exercise by walking in the home as needed, visiting my doggies, and giving them the love and attention they need.
What I would recommend if you think you would like to add a bathroom in the future is to add a laundry tub to the main garage so that plumbing could be brought upstairs if needed.
It's a simple project to take on since it's not disruptive to your lifestyle. You can take your time to finish the upstairs. It can serve as a storage area if you don't need the workspace or living space. Just knowing that the potential is there is exciting.
3. Add a Wing to Your Home
Adding a wing to your home is life-enhancing, especially if your home is small. However, I recommend that you live in your home for at least a year before jumping into adding on a wing or any addition. This gives you some time to feel out how your family flows through the home. What's missing and what you can't live without.
One of the most rewarding wings to add is a larger family room or great room. As your family grows, you will need more space to spread out but still have a place for your family to connect and bond.
I helped design a great room addition with volume ceilings, a fireplace, and access to the wrap-around patio. Although this home was already quite large, it became their favorite room to gather for husband, wife, and two sons. When they became empty nesters and sold the home to retire in another state, the future owner fell in love with this room and ended up purchasing all the furnishings.
4. A Finished Lower Level
A finished lower level is a great investment. Lower levels can be designed economically to function as a home gym or a play area. In addition, since most basements have a laundry room, it's convenient to do laundry while the kids play.
I recommend that you also add a full bathroom and guest room for a place to accommodate guests or parents when needed. It's likely as your kids grow up that they might want more privacy.
Lower levels offer so much flexibility and always add value.
The process of finishing a lower level is another one that isn't very disruptive to your life. It's a great investment, and it can serve as a place to retreat to or a place to celebrate.
Game rooms, a sewing room, a home theater, or a bar to celebrate and watch your favorite sports. Your lower level can take the place of your outdoor areas in the winter months.
5. Updating the Kitchen
Kitchens sell homes. There is no doubt about that. If you didn't buy a home with your dream kitchen, I'm sure your head was spinning with what you would do to transform it into your dream kitchen.
I find that most kitchens start with a decent layout to improve upon. It's great if you don't have to move plumbing and gas lines. Most of the time, this is the case.
The most significant improvements are new cabinets, new appliances, and faucet and sink. In addition, wood floors often need to be refinished and sometimes replaced.
This will be one of the most disruptive renovations you will take on. There is no way around it because it's the heart of the home. Therefore, this is one you will need careful planning and implementation.
Renovation is an opportunity to bring your ideas and dreams to life. The added space and amenities will make you love your home more than ever. I see clients staying in their homes longer than planned once they have made it more personal after a renovation.
If you’re still struggling, consider my Local or Online Design Services! My “Pick My Brain” package is perfect for getting started.
Warmly,
Celeste