Remodeling Ideas For A Better Property ROI
If you’ve recently purchased a new property with the intention of living in it, renting it out, or anything else, there is a chance you will benefit from remodeling. At the end of the day, everyone wants to make a profit when they sell the house in the future. You might not want to put the property on the market for many years, but it’s still worth making improvements if you want the best possible return on your investment when you decide to sell.
Considering that, there are some excellent home remodeling ideas on this page that should help to point you in the right direction and provide some inspiration. Of course, some of these suggestions require a significant investment, and so you always need to plan a budget and consider all the options on the table before pushing ahead. The last thing you want to do is run out of money before the project is complete.
Convert the attic
There are lots of different ways you could make use of the attic space in your new property. Converting the attic into a bedroom or office space is usually the most suitable solution. If you do that, your four-bedroom house becomes a five-bedroom house whenever you decide to place it on the market. That could add thousands of dollars to the asking price, and the amount people are willing to pay.
Again, there are lots of professional attic conversion companies out there that can handle all the hard work on your behalf. You just have to identify the most reputable firms in your area and get in touch to discuss your options. If there are any structural issues or anything you need to think about, the experts will let you know. You can then obtain some quotes before arranging a start date. It shouldn’t take more than a week or so to convert your attic.
Build an extension
Depending on the amount of clear land you have around the exterior of the property, it is possible that you could build an extension and increase its size. There are no limits to what you can achieve with an extension if you have enough space, and so you can get creative. Perhaps you choose to extend both the ground floor and the first floor of the house? That would give you at least two extra rooms, but you could build many more than that.
Do yourself a favor and pay a local architect to design the extension on your behalf. People working in that industry understand all the stumbling blocks you might encounter, and they know how to avoid them. Let the architect know what you want to achieve, and let them come up with the final design. You then have to seek planning permission before employing an expert team of construction specialists.
You could use the extension for extra bedrooms upstairs, a new bathroom, adding a dining room, or anything else you think will increase your ROI when you decide to sell.
Dig a basement
If you purchased a property that does not have a basement at the moment, it’s possible you might add lots of value and get a better return on your investment if you dig one. You might think that’s a crazy idea, but there are hundreds of specialist companies out there that focus their efforts on this task. Regardless of the location of your home, it is usually possible to dig a basement if you have the right equipment and expertise.
Indeed, there is a trend at the moment where people are adding basements to their homes in the middle of big cities. So, it’s more than possible if you live in a rural area with lots of space around the exterior of your home. It is possible to achieve anything with a basement. Some people dig down and create many new floors. They essentially double or even triple the size of their homes in some instances.
Add a conservatory or greenhouse
One of the best and least obstructive ways to add value to the property you recently purchased is to build a conservatory or greenhouse. It’s a UK concept, but it’s becoming popular in the US. There are many professionals out there who can undertake this job on your behalf, and so you just need to obtain some quotes and work out how much it’s going to cost. A $10,000 conservatory could add almost twice that amount to the value of your home if you get the process right.
The best thing about adding a conservatory is that you will get more floor space on the ground floor of the property. In most instances, conservatories use brick walls for the first meter or so, and then the rest is made using glass and PVC. You don’t usually have to apply for planning permission if you keep the building under a certain size. However, it’s still wise to check with your local authority.
Build a pool house
People who have a lot of land surrounding their houses can always add a pool or summer house. While that won’t increase the number of bedrooms or the floor space of the property, it will add something extra that buyers will find appealing in the future. The process of building a summer house is similar to that of adding a conservatory. Most of the materials are the same, and you won’t have to apply for permission if you keep the structure in line with regulations in your state.
You can use the summer house for storage, but you could also turn it into a man cave or a games room for the kids. It gives people somewhere to relax in the shade on a sunny day, and it could add lots of value to the property if you manage to erect the summer house for the right cost.
Redesign the kitchen
Like it or not, kitchens sell houses. When people take a look at homes on the market with the intention of relocating, they always spend a lot of time focusing on the kitchen. According to a top Home Buying Lawyer, families spend hours in that room preparing food and eating every day, and so it makes sense to make yours as attractive and functional as possible. With that in mind, take a look at your kitchen and see if you can identify any potential improvements.
In most instances, it is sensible to change the cupboards and furniture at least every ten years. However, you should remember that you don’t need to put everything back as it was. You are always free to change the entire kitchen design if you believe it is possible to select a better layout. Get creative! There are plenty of software programs you can use if you want a digital representation to help with the design process.
Replace the windows
There are some instances in which you might like to keep the original windows in your property. Maybe the house is very old, and the windows make up part of its character and charm? However, you need to think long and hard about the decision because substandard windows can make a property drafty. Sometimes it’s best to get some replacements and fit them as soon as possible.
Double and triple glazed windows are excellent choices because they help to keep a lot of the heat inside your property, and they will also last for at least fifteen years. So, if you think replacing the windows is a wise move; you just need to contact some specialists. New windows tend to add the finishing touch to a freshly-renovated home, and they will give the property lots of curb appeal.
Add a porch or decking
If the house you purchased does not have a porch, adding one could be a cheap but effective way of increasing the property value. Most home buyers like the idea of being able to sit out on their porch during the summer months, and so it’s a little something extra that could encourage them to increase their offers.
You might also think about building a decking platform in your rear garden using the same materials. Having some space outside where you can enjoy the elements without having to sit on the lawn is always appealing. Potential buyers could use the decking for sunbathing, cooking barbecue food, hosting a party, or anything else they enjoy. It’s even possible to include a hot tub on the decking if you think that will encourage people to feel amazed by the house when they come to view it.
Now you have some fantastic ideas for remodeling; you should have no trouble increasing your ROI. If you like the idea of getting involved in the property market to create income, the suggestions above are an excellent place to start. You just need to find houses available on the market for low prices, and then make some of the improvements listed here before placing them back on the market and selling for a profit. It might seem like a lot of hard work, but the rewards make it all worthwhile.