Learning how to add value to your homestead is a great consideration. Our homes are our little piece of Heaven, where memories are made, ideas come to life, and a family is raised. It is also an investment, which is why maintaining, and possibly raising its value can be important. Apart from getting good returns on resale value, improving your home creates a conducive, habitable environment.
Thankfully, there are several great ways to add value to your homestead. It ranges from adding a new kitchen, remodeling the bathroom, building an extension, and giving the exterior and interior a facelift.
Here are four of the best ways to enhance your property value.
Add Value To Your Homestead by Splitting the House into Apartments or Flats
If your homestead is used as a rental property, splitting larger houses into apartments or flats could be a good idea. There is an insatiable demand for flats and by converting your house into multiple units you can easily boost rental income as well as maximize profit on the sale. However, you need to be careful.
Before you consider to add value to your homestead with apartments, research the market to know if apartments are in demand in your neighborhood. Researching the market may take time, but getting accurate data will save you from a costly mistake. Most larger homes can only be converted into loft-style or one-bedroom apartments, and you need to be sure this is something people looking to rent in your neighborhood want.
Once you get your details right, contact an architect for a perfect design.
As you plan to add value to your homestead by splitting your home into units, you also need to consider factors such as parking, soundproofing, energy efficiency, insulation, and fire safety.
Convert Garage into a Living Space
It’s possible to add footage to your home without increasing its size. This might sound like a puzzle, but your garage is the answer. You may need approval for the project, but the project will be seamless and pretty short.
Converting your garage into a living space gives your family an extra guest suite, more living space, or a home office. Although you are not actually building a new structure, converting your garage can still be an expensive project.
You will need to run new plumbing, add interior walls, painting, flooring, and ceiling. You will also need window replacements to add natural light and to boost aesthetic appeal. And as you convert the garage, consider if the layout will fit your needs.
The type of ceilings and floors you use will influence the budget.
Loft Conversion for an Extra Bedroom
If you have a large family, then a loft conversion is ideal. The loft conversion will give you an extra bedroom with an en suite bathroom for your family. Ensure you get information on all of the types of conversions you can do in your space that are available.
The roof light conversion is the most cost-effective, with less structural work. The mansard conversions are quite complicated and need planning permission.
Go for Curb Appeal
A patio or deck can transform the yard into an entertaining space. It can be designed as an additional summer house. Give your patio a facelift using paint or stain designed specifically for concrete.
Tidy up your garden by raking leaves and mowing the lawn. Give the garden a bit of life by planting stunning, perennial flowers.
The Bottom Line
Adding value to your home gives you a comfortable place to live, and will also boost the resale value of your home in the future. However, it can also be costly. To keep remodeling costs from becoming overwhelming, create a master plan for each space you would like to include, and schedule them out. Do one area, and once it is paid for, schedule the next one.
Another way to keep costs down is to do as much of the work yourself as possible. Small things like painting and cleaning can save quite a bit.