As a homeowner, increasing your home’s value is vital, especially if you plan to sell or move in the future. However, increasing the value of your home isn’t a simple process, as some home renovations can decrease your home’s value.
That’s why it’s essential to understand the various renovation or conversion projects and how they add to the value of your home.
Here are two home conversions that can increase your home’s value.
Garage conversion
Generally, garage conversions involve changing your garage into usable space, such as an extra bedroom, bathroom, living room, or office. Garage conversions aim to open up space in your home, allowing you to have an extra place for your relatives and friends.
As a result, garage conversions can increase your home’s value by up to 20% as buyers appreciate the additional space, especially if they have large families. However, ensure the cost of converting your garage is less than the extra value added to your property.
It’s also essential to note that a garage conversion may not increase your home’s value due to loss of parking and storage space. In this case, you can build a garage loft that doubles the space of your garage. This way, you can park your cars on the first level while having a room on the second. To avoid costly mistakes, hire an experienced contractor such as Levi Design Build for this project.
Alternatively, if you have a double garage, you can convert half the space and leave the other half for parking or storage.
ADU conversion
This is a secondary housing unit on a residential lot, and it adds living space as you can convert it into a permanent living area equipped with a living room, bathroom, kitchen, and bedroom. When constructed by professionals such as Levi Design Build, ADUs have the potential to increase your property value by up to 30%. Hence, you need to design and build your ADU to match your home’s style and fit in with the neighborhood.
Ultimately, if you want to increase your home’s resale value, you might want to consider an ADU or garage conversion.