Part I: Space...The First Frontier
As you plan your next renovation project, it’s more critical than ever to know what upgrades increase home value. The world looks a lot different than it did a couple of years ago. Our homes have been at the center of massive change and re-evaluation.
Home offices and outdoor spaces, for example, are now extremely coveted features. Our newest list of home improvements that add value takes these recent trends into account and incorporates specific product suggestions, updated for 2023.
If you haven’t noticed, real estate values in our area performed amazingly well during the pandemic — your home gained a lot of equity in the last two years. If you are thinking about selling your home, consider the following ideas. Then, set up a ‘Game Plan’ call with us to learn which home improvements will maximize the equity in your home.
Upgrades that add physical square footage or make the home feel more spacious top our list!
A recent survey of real estate agents found that the need for more space was the top reason why people move, with 44% of respondents citing this as a motivating factor. Additionally, 31% of respondents said that they wanted more private outdoor space.
1: Convert or build a home office
A home office is a great way to maximize your space and create a dedicated workspace for yourself. Whether you’re working from home full-time or just need a quiet place to get some work done, a home office can be a lifesaver.
There are many ways to create a home office, depending on your needs and budget. If you have a spare room, you can easily convert it into an office by adding a desk, chair, and other essentials. If you don’t have a spare room, you can also convert a closet or even a corner of your bedroom into an office.
No matter how you choose to create your home office, there are a few things you’ll need to keep in mind. First, make sure the space is quiet and has enough natural light. You’ll also want to make sure the space is comfortable and functional, with plenty of storage space for your files and supplies.
2: Finish your basement
Finishing your basement can be a great way to add value to your home and create additional living space. Whether you want to use it as a home office, playroom, bedroom, or storage space, finishing your basement can be an affordable and easy way to attract more buyers.
Finishing your basement has other benefits. It can add up to 75% of its value to your home price. It can also make your home more energy-efficient by insulating the walls and floors.
Lastly, a finished basement provides a comfortable and inviting space to relax, entertain, or work.
3: Open up the floor plan
Open floor plans are very popular right now, and for good reason. They make your home feel larger and more spacious, and they improve air circulation and natural light.
One way to create an open floor plan is to open up the space between the kitchen and dining room. This will create a unified cooking and dining experience, and it will make your home feel more inviting. You can also open up the space between the living room and family room for a great room effect. This will create a space where your family can gather and relax together.
If you are lucky enough to have a fireplace, consider keeping it in the center of the open space. This will add a focal point to your home and make it feel more cozy and inviting.
I know that making changes to your home can be a lot of work, but I believe that these changes will be worth it in the end. By creating an open floor plan, you will make your home more appealing to buyers and increase your chances of selling it quickly and for top dollar.