Are you looking for ways you can increase the value of your home? There are many different types of renovations you can get done that not only increase the value of your home, but also increase the quality of your life while living there.
 

Second Unit: ADU

An ADU is a secondary living area either attached to or built on the property of an existing home. ADUs provide an additional living space, or can be used to generate income. The best ADU you can add to increase your home’s value is a second story addition, or even a garage conversion.

The cost of adding in a secondary dwelling unit varies depending on the type of addition being put in. For example, a small addition such as a garage conversion can cost around $30,000 up to more than $60,000, whereas a brand new addition such as a second story addition can cost around $50,000 up to more than $100,000.

These prices can sound very high, and make you wonder if adding an ADU is even worth it. The answer to that is yes, it can be, as an ADU adds value to your life and your property. You can also make it worth the money by generating additional income from renting it out, and ADUs can even create a significant boost to your property’s value.

So not only do ADUs generate monthly income (if renting it out), but they also increase the resale value of your property! Detached ADUs can potentially increase your property value by a whopping 20-30% – if done correctly. So, it is extremely important to keep the rest of your property in mind when building and designing your additional dwelling unit.
 

Attic and Basement Remodel

If you don’t have a finished basement, you’re going to want to. Finishing your basement is one of the most important things you can do to increase the value of your home. Your house increases in value when adding a finished basement because you’re adding more heated square footage to the property.

As well, people looking to buy a new home are impressed by houses with finished basements. If you already have a finished basement but want to increase the value of it, you can remodel it. For example, you could add in a wet bar and a bathroom, to make the area more desirable and use it as a living space.

Another way to increase the value of your home is to remodel the attic into a bedroom. Converting the attic into a bedroom with a bathroom adds value in the same way as a two-story addition. While remodeling the attic does not add square footage to the home, it does add another bedroom. That puts the home in another category, allowing homeowners to charge more when selling the property.
 

Bathroom Addition/Renovation

If you only have one bathroom in your home, you can greatly increase the value and regain much of your investment by adding a second bathroom. It is estimated that you can regain 80%-130% of the money you spend by adding a second bathroom.

If you’re unsure of where to put a new bathroom, look around at extra rooms, spaces that aren’t used much, closets, and under the stairs. Keep in mind that for a half-bath you need at least 18 square feet, for a full bath with shower you need at least 30 square feet, and for a full bath with a bathtub you need at least 35 square feet.

If you don’t need to add a bathroom, another option is to renovate an existing bathroom in your home. The best way to do this is to replace all fixtures, install a porcelain-on-steel tub with ceramic tile around it, a new shower, a new standard toilet, and new tile floor.
 

Kitchen Renovation

Kitchen renovations are definitely worth it when it comes to increasing the value of your property. However, it is important to never make your kitchen fancier than the rest of the house.

The best way to renovate your kitchen is to replace cabinet fronts with raised-panel wood doors and drawers, get new hardware; replace wall ovens and cooktops with energy-efficient models; replace laminate countertops; install a mid-priced sink and faucet; and repaint and replace the flooring.

These are some of the best ways to easily increase the value of your home, as well as increase the value of your life while living in the home. At Rovimat Group, we can help you complete your next big home renovation project. Contact us today to find out how we can help you increase the value of your home.