If you own your home for a long enough period of time, you will likely see your home’s value appreciate significantly. However, it may also be possible to improve a home’s value through timely upgrades. What are some other good reasons for homeowners to renovate their properties today?
Add Living Space
There is nothing worse than having to keep the volume on the television down at night before someone is sleeping in the bedroom located mere feet away. Having limited space may also make it harder to entertain your friends or run your business from home. Therefore, adding another bedroom, expanding your bathroom or finishing your basement can create a functional home with enough room for everybody.
Generate Revenue From Your Property
If you are looking for ways to reduce your mortgage payment, an income suite may be ideal. For instance, you could put add a garage with loft space for someone to eat and sleep in. By soundproofing the loft, you may be able to keep your car underneath that space without disturbing your tenant. It could also be a space that your teenage children could rent as a way to start their transition to the real world.
Keep a Home Drier
When a home is located in a valley or close to sea level, it may run the risk of taking on water. Even if it doesn’t flood, there is a greater risk that it will take on excess moisture. This moisture could allow mold to grow or create conditions ideal for mosquitoes and termites. By finishing your basement, you could make it impervious to water. Adding ventilation to your attic may make it easier to cycle humid air out and replace it with drier air.
Make Your Home More Efficient
Replacing your current lights with LED lights can produce a brighter light while using less energy. Replacing your appliances with those that have the ENERGY STAR label may also act to reduce energy and the amount that you pay for gas and electricity each month. Other ways to make your home more efficient include putting in new windows, replacing the roof and putting more insulation in the attic, basement and siding.
Make the Home Function Better
Taking down walls in favor of an open floor plan may make it easier to keep track of your kids from the kitchen while they play outside. You may also be able to keep track of the game while getting a drink or stay involved in conversations while cooking Thanksgiving dinner. Adding a mudroom may keep dirt, snow and other grime away from living areas and make it easier to keep your home clean.
While your home may have been perfect when you first moved in, your needs may change over time. Evolving buyer preferences may also compel you to make changes that will give your home the best chance to sell for top dollar. If you aren’t sure that you can make a repair or do a renovation on your own, don’t hesitate to call a professional.