Given the high cost of living in the Bay Area – especially the “$1 million and up” price tags of even the most modest single-family residence – the purchase of your home was most assuredly a major investment of your time, money and effort. You likely did a good deal of shopping and spent added time educating yourself on what was available and what you could afford. Given this considerable effort and expense, it only makes sense to ensure that your home continues to retain its value and to do what you can to enhance that value as you may well have intentions to sell this home in the foreseeable future.
With the right renovations, you can add considerably to both your home’s ease of marketability, as well as its future selling price. As previously mentioned, remodeling plans that will add light and space, can also add to your home’s investment value. Adding more natural light (with bigger, more energy-efficient windows, modern skylights or by installing French doors that lead out to your picturesque patio as in the image below) cannot just make your home more visually appealing upon entry, but it can make it appear more spacious and inviting. Remember, that a dark or cramped room does nothing for your real estate values!
Another idea to consider, is that of a vaulted ceiling – it can help to create the illusion of more space. There are numerous options in varying price ranges when it comes to brightening up your home with natural light. Why not explore them?
Of particular consideration when it comes to adding value to your home, is the remodeling plan that delivers a more modern and functional kitchen, adds another bedroom and adjoining bathroom, or that features a larger master bedroom with room for a walk-in closet together with a master bath that delivers that spa-like appeal so many of my clients are choosing these days.
For families that have grown larger and don’t want to leave their chosen neighborhood (or their preferred school district), the addition of a room (i.e. added bedrooms, bathrooms, family room, office or home theater) or second story is often a worthwhile consideration, provided the size of your lot and the building department in your city can accept (or will approve) such an addition.
An ADU/SLU can utilize existing living space (though it requires its own electrical panel, heating and cooling system, and its own hot water heating unit), or it can be constructed as an entirely separate unit (sometimes referred to as an in-law cottage). Homes that can offer these types of living spaces that can generate additional income for the homeowner, are proving especially attractive to prospective buyers.
Regardless of how it begins, once the remodeling seed is planted, you may find yourself exploring various design ideas and making wish lists for this, as well as future renovations that would better serve you at the varying stages of your life that will add significant value as well as ease and comfort.
Of course, it’s of particular importance when talking about enhancing a home’s value, to give extra consideration to your home’s curb appeal, given its impact upon final selling price. The first impression of a home is derived from the look of the exterior. Realtors have advised me that a good “first impression” can add 5% - 7% to its value. Naturally, you’ll want to ensure that your front door, exterior paint, siding and window trim are attractive and properly maintained. If you have a porch or decking, make certain that it is well-maintained and offers features that ensure greater safety and security, such a sound railing and properly spaced and easy to scale stairs. Which leads me to excellent reason number three - to add greater safety and security to your home. But you'll need to wait until next week for that blog!
Ed Neir Construction
License # 928715