Investors are always looking to add value into a home whether it be for rental income, or to flip the property. But investors don’t have to be the only ones that can look for ways to creatively add value to a home. Here are 4 ways that you can too.
This especially adds value to 2 bedroom houses, but only if you have enough square footage. The reason that it is so important to have 3 bedrooms is that families want 3 bedrooms. Even families with only one child want 3 bedrooms. So let’s add a bedroom, shall we? For starters, do you have the square footage? The first thing you have to do is decide what it is that you want to give up. Do you have 2 rather large bedrooms? Then construct a wall dividing one of them up into two small bedrooms. Or maybe you have both a living room and a den. Turn one of those rooms into a bedroom. Keep in mind, though, that a bedroom needs to have both a window and a closet, so you may have to build a closet into the new room.
Now on the flip side, maybe you have 4 bedrooms, but they are all extremely small. People do not like small rooms, so in this case, you may want to think about taking out a wall in between two of the rooms and making a spacious Master. That’s just a good as a 4 bedroom, and you might actually improve the number of days that your home is on the market simply by opening up the bedroom.
I’m normally not a huge fan of the garage conversion, but in some cases, I can see it’s value. A garage can be turned into an impressive Master Suite, or in homes that have very small living rooms, it can make a great game room. Just make sure that if you are going to take away garage storage, then you may want to think about adding a storage shed in the back yard. Putting up a carport may be a good idea as well.
Turning a Half Bath into a Full Bath:
If your home already has 2 full bathrooms, then please disregard this section. But if your home has one full bath and a half bath, then you might want to take a good look at your bathroom situation.
Now some half bathrooms really and truly only have enough room for a toilet and a sink.
But some may have a tad bit more room. Stand up showers don’t take up that much room. You may have to move the toilet over some, but full bathrooms add a significant amount of value in both property value and in marketability.
Opening up the Kitchen:
So you have a small kitchen. The term “small” is all relative, so let’s open it up a bit, let more light in, and make it feel less small. This can usually be done by either knocking out a wall, or simply by cutting a rectangle in a wall, put a countertop on it and make it a pass through breakfast bar. Now you’re cooking with grease! It’s amazing how just that will completely transform the look and feel of a kitchen.
These are not the only ways to add value to your home, and if you have a lot more money, than I can certainly think of several more things that you can do, but sometimes, the simple answer can also be the best answer.