Can you add value to your home by adding a home theater?
Well this little guy says "Yes"
Many people including myself dream of having a home theater. An entire room of the home dedicated to enjoying television and film. These rooms are usually equipped with a large flat screen television or projector, comfortable seats, dim lighting and perhaps even a bar or a snack fridge.
They are very comfortable and the perfect place to relax after a hard day. They are also lots of fun for entertaining, as you will be able to watch the big game or the hottest new release with your friends in style.
However, will spending the money on renovating your home to create a theater room be a smart investment? Does this type of home improvement add a lot of value to the property, or will it turn off potential buyers?
Buyers Do Like The Upgrades
These days luxury home buyers are becoming much more tech-savvy and they are demanding more networked or ‘smart’ homes than ever before. They are looking for a house which is outfitted with the latest in technology, so a modern home theater will be a desirable selling point. If you are targeting your home to this luxury market, the home theater could give you an edge over the competition.
It is difficult to determine the amount that the home value is affected when you add a high tech home theater, but most real estate professionals will agree that when there are many houses for sale at any given time, the one with an impressive home theater room will be more likely to sell first.
Where Will You Put It?
The only situation in which the home theater could detract from the value of the home is if it overpowers a medium sized or smaller home that just barely had enough space in the first place. If your home cannot spare the extra room, taking up a lot of space with a home theater will mean fewer bedrooms or living spaces and a potential decrease in value.
However, you might be able to get around this problem with clever solutions that allow you to conceal the home theater unless it is being used. You could hide the large screen behind specially designed cabinets and set up the furniture so that the room can be a living space when not in use as a theater.
Final Thoughts
Remember that a home theater system is something that will generally only increase the value of your home for certain buyers, as opposed to something like a bathroom renovation or a garage which will be valuable to almost every buyer.
Since value is basicaly determined by the value of your neighbor's homes, you usually don't want to make improvements that bring your home's value significantly over the general value of the neighborhood. But, sometimes it's not about increasing your homes value and it's just about increasing your personal enjoyment.
To find out more about upgrades that affect the value of your home, contact your trusted home financing professional today.
Sean Young
Comments (1)Subscribe to CommentsComment