Converting garage to living space
Believe it or not, converting your garage space into more livable square footage or an in-law suite is actually one of the worst renovations with a poor return on investment when it comes to resale. Instead, keep the garage and purchase new garage doors. This is a way to improve buyers first impression of your home and often offers a return of over 80%
Sunroom Addition
A sunroom is also considered to be one of the worst home renovations when it comes to return on investment. It can be difficult to get a return that’s above 45%. Like many of these renovations, a sunroom can become quite pricey depending on the extravagance, making it difficult to realize a good return.
Specialized spaces
Try and stay away from converting living spaces or additional bedrooms into specialized spaces like a home gym, home theater, or master suite closet space. While the specialized use of the room may improve your experience in the home, it can take away from the homes essential selling points when it comes to resale. It is better to present the seller a blank canvas with which they can do anything with. It is more difficult to sell someone your home rather than selling them their future home. Specialized rooms make the space too tied to your presence of the home.
Home office remodel
Depending on the homeowner home offices are either useless or a must-have. Borrowing living space for a home office is where this remodel can get tricky.
Master Suite Addition
It is one thing to reconfigure your bedroom. This renovation moves into negative territory when you combine bedrooms to create a bigger bedroom. When it comes time to resell your home, this renovation will actually work against you because you now have fewer bedrooms which eat away at the value of your home.
All in all, when renovating your home, try to stay away from heavily converting essential spaces. Garage space, living space, and bedrooms are essential to the value of your home. Upon renovation, don't compromise them, rather accentuate them.
For more information call 718.816.7799 or email info@CasandraProperties.com
Posted by PreReal™ Prendamano Real Estate on
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