The fastest way to increase the value of your home is to make well-calculated upgrades. It’s a marathon, not a sprint. Begin with a list of your necessities, followed by inspirations, ideas and dreams. Then, select a trustworthy general contractor who can bring your wishes to life in a cost-effective and aesthetic way. Once you determine your budget, categorize the items by priority whilst maintaining the reasonable balance between the must-haves and the potentially unattainable dreams. You may create two lists: the upgrades that will increase the value of your home and the upgrades that you will personally use and enjoy the most.
The following 5 upgrades will increase the value of your home.
Real estate experts believe that #1 upgrade that yields the greatest return is kitchen! New cabinets, either granite or marble countertops, modern tile and fresh paint could transform the space according to your taste. Stainless steel appliances and similar metallic light switches, for example, may add a contemporary look. A pot rack and a small wine cellar may not only serve as practical additions but also create a countryside-like atmosphere.
The bathroom is the workhorse of your house. Due to wear and tear, you should reassure its functionality while implementing the upgrades. You may rather want to focus on a faucet, since bathrooms are no longer pragmatic. Under-mount sinks, a shower with body sprays, either granite or marble countertops and wall mounts could not only create the spa-like atmosphere and add warmth but also increase the value of a bathroom.
Curb Appeal and Landscaping
The value of your home also depends on whether it looks attractive, welcoming and structurally sound at first glance. You may accentuate your curvy walkway with flowers or lanterns. You may also embellish your big and wide garage with a beautiful front yard, which will add aesthetic value. You should take a black-and-white digital photo of your home. Once the color is removed, you would be able to see the cracks in walls and other glaring flaws. You could also consider building a water-conserving garden with desert plants such cactuses, smooth-leaved succulents, feathery grevillea and luminous ornamental grasses. This would diversify the existing palette and create a contemporary and unique garden.
Second Floor or Another Addition
As home values rise, the second story addition to your house might be one of the best investments. A design-build general contractor can assist you with determining maximum residential floor area permitted by zoning regulations. However, you may increase your livable area through thoughtful design by adding square feet exempt from calculation, i.e. a habitable basement, etc. Generally, the addition would double your investment.
ADU (Accessory Dwelling Unit)
ADU is a residential unit that can be added to a lot with an existing single-family home. ADUs can be detached (a separate building in a backyard), attached to or part of a primary residence, or a garage conversion. These are independent rental units that have their own kitchens, bathrooms, living areas, and entrances. They can provide additional space for caregivers, children, elderly parents, or renters. Since ADUs are rental units, they could bring additional income. “Empty nesters” can stay in their neighborhoods by moving into a smaller ADU and renting out their larger homes to pay off the mortgage.