What is the best update you can make to that extra room in your house to appeal to future buyers when you are ready to sell?
Turn unused Attic Space into a Bedroom.
According to Remodeling Magazine, the number one home improvement project as far as recouping a return on your investment is the addition of an attic bedroom. Nationwide this project averages just over $50k, and you can expect to recoup close to 75% of your investment at the time of sale.
Add a Bathroom.
Kitchens kitchens kitchens… Ever heard that they best place to spend money on your house is the kitchen? I won’t deny it – gorgeous kitchens are attractive to buyers and a wise investment. That said, in 2011 the tides turned and surveys showed that bathrooms took precedence for buyers over kitchens. According to the National Association of Home Builders (NAHB), even a half bath will add significant value to your home.
Homes built forty or fifty years ago, and especially homes any older than that, tend to be long on charm and alarmingly short on storage. Today’s homeowner has stuff – and lots of it. If you have an unused nook or cranny – no window or door (ie NOT a bedroom), but extra space that doesn’t have a name or a clear purpose, consider adding that space to an existing closet or turning it into a closet or other form of storage. Adequate storage is important to potential buyers, and you’ll love the extra storage space while you remain in your home.
Relocate the Washer/Dryer.
While technically not a room redo, relocating your washer/dryer to the upper level of your home, or purchasing an additional pair of stackables, is appealing to buyers and could add value to your home. Especially if the alternative is to do laundry in an outdated or unfinished basement. Turning a hallway linen closet or portion of your master closet into a laundry center – especially if either of these locations is adjacent to plumbing – is a relatively inexpensive update that is attractive to today’s buyers, and may make your own household chores a bit easier.
Are you thinking about these or any other updates? I’ve got a guy! If you need a referral, or you are thinking about buying or selling – drop me a line. I have the experience to navigate the Denver marketplace and land you in your dream home – or help you successfully sell your current home.
The Meyers Group