How to Upgrade Your Home’s Value AND Have a Bit of Fun
Homeowners are constantly thinking of new ways to grow and improve their current property. It’s understandable and warranted, especially if you’re trying to sell your home for profit in the future. It’s also easy to appreciate home upgrades if you want to improve the overall aesthetic of your surroundings.
With more people staying at home in the past two years since 2020 (and potentially moving to work remotely), the demand for home improvement has increased significantly. According to Houzz, the annual increase of demand for home repair and improvement increased 58% in June 2021. What’s more, the market share for the interior design industry is said to have increased by 5.6% in 2021 in the US (https://www.ibisworld.com/).
So, where do you start? Do you begin by banging out the generic upgrades, like repainting walls and cleaning up your curb appeal? Or, do you have a little bit of fun and install a firepit or convert your cellar into a more livable space?
We think it’s safe to say that the generic home improvements are easy enough to think of, so we’ll avoid discussion on those topics today. Instead, we’re going to bring some interesting and fun upgrade ideas to the table, and give you some creative options to take action on. If you keep reading, maybe you’ll find a thing or two that interests you!
Read to get 6 tips on how to elevate your home experience and increase your home value. The six we will be covering are: irritation system, smart technology, a lovely patio area, a basement, an outdoor firepit, and lastly, a home theatre.
6 Tips for Elevating Your Home Space
- Irrigation System
Everyone loves a beautiful lawn, but no one realizes the amount of work that goes into keeping one. That’s why we want to bring up the fact that an irrigation system would come in handy, getting rid of dry grass and hydrating all areas on the property.
These outdoor systems are made so that you don’t even have to think about greenery upkeep in the least. In a study done by Lawn & Landscaping, they found that the top reasons homeowners love their sprinkler system is because of: 1). It’s a time-saver 2). It keeps the lawn and plants looking nice 3). It saves water!
According to Home Advisor, the average cost for an irrigation system can range anywhere from $1,703 to $3,526 so this is an investment. But it can definitely pay off by increasing your home value estimate.
- Smart Technology
As we progress into the 21st century, we’re looking to implement smart home improvements to make our current homes look super appealing in a buyers market. Smart choices point to smart technologies, including but not limited to thermostats, lights, alarms, security cameras, and door locks. Appliances are also becoming smart, which is very beneficial for a lot of homeowners.
There’s something special about having the ability to control mechanisms in the house when you’re not home, and that’s exactly what smart technologies are good for. Fifty-seven percent of Americans say that using smart products in their home actually saves them around 30 minutes of therm time daily. Statistics show there will be 53.9% of homes that will employ smart technology by 2023, so if your home does not have smart technology, it is definitely lagging behind.
There is a lot to think about when it comes to smart home technology, so consider stopping by your local Lowe’s or Home Depot to ask some questions and learn more. Places like Costco can also carry a variety of smart technology for a good price!
If you’re looking to install an awesome gathering area outside the house, look no further. Heed
our suggestion and get to work on a patio upgrade. Expanding the seating area on the patio can
be included in the improvement, too.
You can go one of two ways here. Focus on a metal or glass table surrounded by chairs for
optimum seating and eating arrangements. Or, get comfy cushions on outdoor couches to lounge with family and friends. Maybe even choose to set up a spot for a grill and/or TV.
People are currently looking for outdoor furniture that has the same type of comfort as indoor furniture. With families hosting more family gatherings and dinners, demand has increased significantly for outdoor furniture.
Transitioning the lower level of your home from basement to living area is quite a time consuming process, but it’s totally worth it in the end. You technically don’t have to focus on making it a living room or an additional bedroom; you can also lean towards creating additional storage space if you’re out of it with the current floor plan you have.
The best part about improving your basement is that, more often than not, you will not need planning permissions to edit the interior. Planning permissions are primarily used when structural changes are taking place. As long as you already have electric, gas, and water (if applicable) in the basement, all you have to do is build around it and there you have some additional living space.
What’s more, basement conversions allow you to fix any areas you may have overlooked beforehand, such as mold or unwanted pests. According to Nerdwallet, a finished basement that is turned into a livable space can take between $6,500 to $18,500, but has a return of investment of around 70%!
- Fire Pit
Installing a fire pit outdoors is definitely a home value booster; this people pleaser will help bring sales in when you’re ready to sell the place, and in the meantime, you’ll definitely enjoy the addition.
Plus, fire pits do make it easier to have outdoor gatherings almost year round – the chilly fall months welcome the use of a fire pit, and some s’mores, of course.
In a survey done by Homelight that was answered by thousands of realtors, a fire pit design came up top as a most desired background improvement (54%). For the midwest, that percentage rises up to 59%! The numbers don’t lie, so if you are considering a fire pit, take the plunge!
- Home Theater
Home theaters are all the rave today; they’re much more comfy and cozy for movie watching, especially when being compared to that of a public movie theater. With the rise in smart home technology, increase in at-home streaming, direct-to-home movie options options, and people wanting to stay home for health reasons, a home theater is a perfect alternative! Think about it: you’re able to cuddle up in any loungewear you prefer, eat all the snacks you want and drink all the drinks you desire for more than half off a theater’s price! It’s a win-win scenario.
To get yourself started, gather supplies like a projector, receiver, and media player. The rest will fall into place once you begin putting the setup together.
If you want to make your home theater experience even more luxurious, you can contact a local home theater contractor to build a custom home theater for your home. A typical dedicated home theatre costs $10,000 – $30,000 to install and will increase a home’s value by $6,500 (projectorscreen.com). Once it’s perfect, you’ll cozy up in the theater all the time.
We have talked about six key ways you can increase your home value. These 6 areas are: an irritation system, smart technology, a lovely patio area, a basement, an outdoor firepit, and lastly, a home theatre.
It is important to look at your unique home and see what your family values most: if it is time outdoors, maybe a patio would be a great option. If it is movie time, consider a home theatre. Find ways to make your house feel more like ‘home’!
Lastly, if you need any interior design support and you are in the Greater Tampa Bay area, contact us! We would love to support you to bring your vision for your home to life!