Your home should be considered an investment so adding to your home will help increase the value of this investment. Not all additions are great for a home but there are those that will increase value and quality of life simultaneously. Make sure that you have professionals handle the larger projects. Paying for a renovation that is not up to code is a waste of money as you likely will have to remove the addition. The following are additions that you should consider in the near future and the benefits associated with the addition.
Putting a Shed on Your Property
Putting a shed on your property can do multiple things including creating a work space for you or to help store items that will not fit in the home. Looking for top shed builders in the area is important as you might have custom needs for your shed. The shed can be a place where you go to relax or even meditate during a stressful week. Your shed will be as versatile as any other space in your home if you pick the right shed.
Addition of a Bathroom
Adding a bathroom to the home will increase the value of the home significantly. This can be a full or half bath as the addition of a bathroom provides convenience to everyone that lives in the home. Adding a bathroom that can be accessed by a bedroom that didn’t have a bathroom before can make for multiple master bedrooms. This is going to cost between $4,000 and $12,000 so keep the budget in mind.
In-Ground Pool if the Weather Permits
Putting in a pool will differ depending on weather as an above ground pool can be perfect for those colder climates over the summer. For warmer climates putting in an in-ground pool can be an option although this can be expensive. For people that live in warm climates, the pool could add to the lifestyle that many people moving to the area want to live. Florida is a great example as many people want to retire in a home with a pool so they can sit in and outside of the pool relaxing. Pools will add value to the home but keep in mind the monthly maintenance costs and additional cost to your water bill.
Adding an In-Law Suite
The world has a vast number of opportunities to rent out extra rooms in the home. A separate room with a kitchen and bathroom with its own entrance can be used to rent monthly or through a platform like Airbnb. The addition of this room needs to be done by professionals so you can make sure that the build follows county and state regulations. The addition of this area will not only boost your potential income from the home but it will also increase the value of the home. Not all additions will be approach by an HOA so take the time to check if you live in a deed restricted community.
As you can see, there are plenty of options for additions on and outside of the home. You should do an assessment of how much the addition will cost as well the added value to the home overall. In the case of the in-law suite you should factor in rental fees that you will receive from renters whether you use Airbnb or rent out the space long-term.
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