4 Ways to Add Value and Space to Your Home

Lifestyle

Whether you are considering selling your home or just want to make it more comfortable, adding space to your home can substantially increase its value. You can make a hefty investment in remodel or keep a small budget, but renovations that add useable space might easily pay for themselves in added property value. Here are four ways to add space to your existing home.
An article on This Old House recommends knocking out a non-structural wall to make one room out of two. Today’s trend is toward bigger multi-purpose areas. Of course, you will need to consider the location of heating vents and other non-movable things, but taking out a doorway or a pass-through can open up a room and make new furniture positioning a possibility. If you remove a kitchen island, you might replace it with a movable island that could serve other purposes.

An often-overlooked way to get more usable space around your home is to prune back the landscaping and make it more user-friendly. You can take out overgrown shrubs, hedges and un-needed gardens and add a patio, for instance, or open up a walkway. This transformation may cost only $300 to $500 but the return on your investment could be 400 percent. Curb appeal and a welcoming outdoor entertaining space attract buyers.
Another way to add space is to build an addition. If your home is very small, and you have a big-enough lot, you may have to consider a new outside structure. This can be costly, but the added floor space increases your home value. If you do not have a lot big enough to build out, the Home Renovations website suggests building down, or converting your basement. Usually the basement is structurally sound and you can add a false wall system, tucking electrical wires behind it. Sometimes basements can retain moisture, so you will have to consider ways to mitigate this. Adding basement living space not only adds to the value of your home, but it can cut down on utility expenses; basements tend to be warmer in winter and cooler in summer months. If you can’t remodel a basement, consider renovating an attic. It is more costly than a basement remodel because you will have to strengthen the floor supports and add a sub-floor. You might also have to deal with slanted dormers. Still, the renovation will add space and value to your home.

If extensive remodeling isn’t an option, think about repurposing rooms. A mud porch can be enclosed and made into a fun family area, for instance. Spare bedrooms can become home offices, exercise or hobby rooms. A garage can also be transformed, but the advantage of having a garage and the attractiveness of the feature to buyers could outweigh the investment made in creating space this way.
Your home probably has a lot of hidden usable space and you can increase your comfort and the value of your home by finding areas that can be remodeled or repurposed. Creativity is the key.