Home renovations, big and small, can really pay off if you know what to do. But you don't have to stick to just the typical renovations like remodeling the bathroom or kitchen or repainting the exterior. Even lesser-known renovations can increase the value of your home while attracting potential buyers.
If you're looking to spruce up your home, real estate agents Lindsay Hahn and Daniel Andrews say they have some unusual renovation ideas that actually work.
Outdoor Living Space
“Outdoor life is an extension of indoor life, so if there is a place to gather, [or] “Adding extra entertaining space goes a long way,” says Lindsay Hahn, a top agent at Christie's International Real Estate. “Whether it's an evergreen lawn, a built-in fire pit, a patio or pavers, adding extra entertaining space goes a long way.”
Of course, every home improvement project comes with a cost: According to Outdoor Concepts, renovating an entire outdoor living space can cost anywhere between $30,000 and $100,000 depending on the size, complexity, materials, and construction used.
To keep costs down, consider creating a basic outdoor living space. For about $30,000, you can install a paved patio with seating walls, a fire pit, a privacy wall, and plants. The overall space should be large enough for five adults to sit comfortably.
Smart Home Technology
“There's been a rise in demand for smart homes recently,” says Daniel Andrews, a real estate agent with Realty One Group Next Generation, “and a recent survey by Security.org found that 75% of homebuyers are willing to pay more for a smart home.”
When it comes to installing smart home devices in your home, you have a variety of options. You can install smart lighting systems, smart door locks, smart thermostats, smart security systems, and much more. Be sure to set a budget, as costs can add up quickly if you're not careful.
Casita
Another unusual home renovation proposed by Hahn is a private, detached casita, which is essentially a guest house built separately from the main house but on the same property.
“They're perfect for guests, a home office, grown kids, or even rental income,” she says. “A casita could fetch a profit of $200,000 to $250,000 when resold.”
According to Mariano & Co, it will cost between $150 and $500 per square foot to build a detached villa. If you work out the low to mid-range numbers, a villa of about 500 square feet will cost you about $75,000.
But again, this will vary depending on factors like materials, labor, size, layout, fixtures, etc. You’ll probably also have to pay extra for the foundation work. That being said, if you can increase the value of your home by even $200,000, that’s a big gain.
wine cellar
According to Andrews, a wine cellar is a great addition to any home, as long as it has enough space. It can give a home a luxurious feel and increase its value.
According to Heritage Vine, a wine cellar can cost around $30,000, or more. You might be able to cut costs by doing much of the manual work yourself, but to really increase the value of your property, it's important to do it right.
A less conventional kitchen update
According to the 2023 Remodeling Survey, a small kitchen remodel will cost about $26,790 and have a resale value of $22,963. While this may be an initial loss, updating your kitchen little by little can increase the value of your home over time.
“High-end appliances, a kitchen with great flow, a large walk-in pantry, or even a butler's pantry – these are things that can really wow people,” says Hahn, “and if you want to really wow your friends and family, don't forget trash cans, dual dishwashers, an ice maker and a beverage refrigerator.”
Some of these options are more costly than others, but you can start small and add more features as your budget dictates.
Walk-in pantry
On that note, Andrews also suggested installing a walk-in pantry.
“Buyers love storage and space, especially when it comes to food,” she said. “Coupons are all the rage and buyers need storage space. According to a survey released by the National Association of Home Builders, 83% of buyers consider a walk-in pantry a must-have or desirable.”
Other Unusual Home Improvements That Can Benefit You
While there's no guarantee how much of a return you'll get from renovating, it's worth undertaking the projects that will bring you the most joy and, with any luck, increase the value of your home.
With that being said, here are some other unusual home improvements to consider.
- Install an electric or gas fireplace to act as a focal point in your living space and add a touch of elegance. According to HomeGuide, gas fireplaces range in price from $2,300 to $10,000. If you want to cut costs but still add value, consider a ventless gas fireplace instead of a vented or direct vent fireplace. But be aware of potential safety risks.
- Install a carport or three-car garage: A new carport will cost about $3,600, according to Ryan Barone, CEO and co-founder of RentRedi, far less than the $28,000 or more it would cost to build a traditional garage.
- Create rentable space on your property, like extra storage or parking. Or increase the value and appeal of your home with additions like an extra bedroom, shed, gym or apartment over the garage. Make sure everything is up to code.
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