Though the cost of renovating and remodeling your basement may be in the tens of thousands, the ROI is in a solid 70%, which means that the work and money put into getting the basement ready before your open house or viewings will be worth it when it’s time to close the deal. If you’re concerned about your ROI, go with a renovation that will be perfect for appeal and overall use. For example, an extra bedroom, a home office, or even a play room for kids. In fact, it’s better to stick to a general category of use during the renovation period, just so you can get an idea of how you’re going to stage it, what color of paint you’re going to use, etc. A walk-out basement is a nice touch as well, especially if it connects to the backyard. This will give potential buyers the option to rent out their new basement to tenants should they choose to do so, which is something that some people look for when it comes to buying a home. Inspect the staircase that connects the basement to the rest of the house to see whether it needs repairs. Like the bedroom, your real estate agent can help you find the connections you need to make your basement renovations possible. Renovating your attic into a bedroom has an ROI of 61% and is a “wow” factor to prospective buyers. Renovating your attic into a bedroom is the absolute perfect way to sell your house for more. An attic can easily be renovated, considering the basic structure is already present (the roof and the floor). Buyers love to see a home with an attic bedroom, as they are desirable, have quirky characteristics, and are charming overall. It costs about the same as a basement to renovate an attic into a bedroom, and has a comparable ROI.
For extra value, you could also consider adding a private
67
Powered by FlippingBook