If you’re a homeowner, your house is likely to be one of your biggest assets. As such, there might come a time when you decide to put it on the market for a large lump sum of cash.
But before you do, it might prove advantageous for you to make some home renovations or improvements. Not only can this increase the value of your property, but it can also make it easier to sell.
Add Square Footage or Finish Existing Rooms
One of the best ways to modernize and add value to your home is to increase its overall square footage. “Anything that adds square footage or increases the bed/bath count instantly raises the value of a home,” said Kurt Carlton, the president and co-founder of New Western. “This could mean finishing an unfinished basement, converting an attic into a bonus room, or reconfiguring the layout to allow for more bedrooms or bathrooms.”
The cost of knocking down a non-load-bearing wall can be under $1,000. However, you could be looking at a higher price tag if you want to fully renovate existing rooms or change the layout of your house.
Finishing an existing room can add value without breaking the bank. “Finishing those unfinished areas, such as your basement, is a great way to give your home’s value a significant boost. Not only does it add valuable square footage, but it also maximizes the usable space and enhances the overall appeal and potential of your property,” said Brandon Rand, a licensed realtor with Coldwell