If you’re thinking about doing a little remodeling work on your home, the one of the things that you should keep in mind is the ROI (return on investment) of any work that you have done. You should invest in home additions that will not only improve your comfort living in the house, but that will also increase the property value. And you should really think twice about investing in features that could actually hurt your property’s value (such as, believe it or not, swimming pools). The following are five home additions that will provide you with an excellent ROI and will almost certainly help boost your property value:
- An Extra Bathroom – Adding another bathroom, even if it’s a half bathroom and not a full bathroom, could boost your property value by as much as 20 percent. Buyers are also looking for convenience, which means that if you don’t have a bathroom available on the ground floor, you’d do well by adding one there. In fact, lacking a ground floor bathroom can scare potential buyers away – especially those that have an eye towards the future and want to have a bathroom that is easily accessible to them. You can convert a larger closet space into a half bathroom, or even take away space from an extra bedroom or from your living area in order to build another bathroom.
- An Extra Bedroom – By adding an extra bedroom you’ll be able to advertise your home as having one bedroom more – and as you probably know, a three-bedroom typically goes for much more than a two-bedroom. While adding square footage onto your house in order to build an extra bedroom may end up being more costly, you should still receive a solid ROI from it. But you can also convert your basement or attic space into an extra bedroom as well.
- A Sunroom – Building a sunroom onto your home is a great way to add living space and is an attractive feature for many buyers due to the flexibility a sunroom provides – it can be used both as a space for entertaining as well as a more private area to retreat to.
- A Deck – Homeowners that have a large backyard but no deck often ignore their yard. A deck allows you to enjoy the outdoor space in comfort and also provides additional space for entertaining. A deck will also increase your living area at a very minimal cost per square foot, pretty much guaranteeing a high ROI.
- A Screened-in Porch – A screened-in porch can really add to the curb appeal of your home while also helping to increase your living space, both of which are factors that will help to bump up your property value.
If you are thinking about investing in a few home additions, one of the things that you should be sure to think carefully about is the ROI those additions will provide. These are five home additions that will certainly help to boost the value of your property.