When considering how to plan for your room additions in Denver, what do you consider? How it will look? What you need in a space? Profitability? All are important factors. As you make arrangements to add rooms and tackle a remodeling project, it is important to get a return on your investment. Learn about the most profitable renovations, considerations for expanding rooms, and tips to properly budget your projects.
Most Profitable Renovations
Wondering what renovations will give you the most bang for your buck in the long run? Try one of these:
- Basements: If you have an unfinished basement, you will greatly increase the value of your home by finishing the space. By making it useable, it creates valuable square footage. In some cases, it can increase your resale value by over $20,000. You can simply finish the space so it is safe to store items in, or you can take it a step further. Basements are great family, laundry, or entertaining spaces.
- Kitchens: While costly, kitchen renovations greatly impact your resale value. Once you upgrade outdated counters, cabinets, appliances, flooring, and more, it completely transforms the space. It can help you make $25,000 or more on the price of your home—depending how you upgrade the space.
- Efficient Upgrades: Not looking to completely renovate a space, but would like to save money? Consider making energy efficient upgrades. Why energy efficiency upgrades? These can include new windows that better insulate your home, appliances, lighting and fixtures that use less energy, and better insulation. These are all changes you will notice make a difference in your monthly budget.
Considerations to Expand Rooms
If you have a small space that does not fit your needs, expanding rooms or overall space in your home is an option. You have a variety of ways to best fit your layout and budget.
First, consider all of the rooms in the house. Could you condense one space to build out on another? For instance, if you have a large master bedroom and small bathroom with a closet in between them, would it make sense to join the bathroom to the bedroom—making it larger by turning the closet into additional bathroom space?
If you are outgrowing your space, you can also consider adding a second story to your home. It is a great way to meet your needs if you wish not to move into a new house. By adding more square footage, you will increase the value. It is great to add bedrooms, office space, or storage that is needed.
Tips for Budgeting
When planning your budget for your remodel, talk to your local contractor to understand what each cost might be. Next, look for smart ways to finance it. If you take out a loan, opt for one with a lower interest rate if possible. You can even ask your mortgage lender how you can finance your remodel in your existing mortgage. Make sure as you create your budget to stick to it, and leave room for issues to fix.
As you plan for your home remodeling projects, Ridgeline Design and Build will help you make the most of your investment. From basement finishes and remodeling services, to decks and room additions, our team is experienced in a variety of renovations. We know how to match room additions in Denver to the rest of the home
. Contact us today at 303-346-6100 today to see how we can help you.