It is well-known that the market value of a property, usually a house, depends on the features it has. However, you should have in mind that not all addition projects increase the market value of a house, return your investment or add to your profit. You should always consider improvements that increase the space or use it efficiently and such that make your home as good as the new ones on the market today. Below are some good ideas.
Bathrooms
When it comes to bathrooms, have in mind that one more is always an advantage and adding it will certainly increase the market value, especially if you live in an area where most of the homes are single-bath ones.
Moreover, if you decide to expand the main bedroom of the home and add a bathroom to it, you will add new space to your home and will make a step to turning your home in a modern property with some trendy luxury feature features that will increase the market value.
Kitchens
One should be very careful when improving the kitchen facilities. A good kitchen is desirable in every home for sale, but don’t spend too much on additions and new features as you would not be able to alter the final price too much. When it comes to this, the neighborhood is again an important factor. Because if you make a kitchen for $100,000 and add this sum to the price of the house, the buyers are likely to go for another home in the area with a modest, but less expensive kitchen. In the other hand, if you don’t spend more than $40,000, you are more likely to attract the visitors with a good kitchen, increased space and a reasonable price.
Bedrooms
When it comes to making the home bigger and more spacious, you need to consider your project carefully. On one hand, it can really make your home better and to increase its market value. On the other hand, the improvement may be really expensive and add to the taxes of the property. So what you can do is add a new bedroom by using an existing, but unused space. If you have an attic, a basement, a very large cellar, then you can always add a new bedroom to your home. This will make the house suitable for bigger families, which means more prospective buyers. According to SmartMoney, if you add a bedroom in the attic, the cost of this improvement will return double in the price of the house.
Family Rooms
You should have in mind that if you are late I n adding a family room (in other words, if most of your neighbors have already done so), your investment may not be worthy. However, you may still have to do it, because buyers will expect to see a family room if most of the homes in the area have one. In other words, you may not gain a profit from adding a family room, but you will keep the market value of the house up.
As with the additional bedrooms, you don’t necessary have to build the family room – you can use the unused space and thus increase the living space, which will increase the market value and will help you return your investment.