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Your property’s square footage can affect its appraisal as it’s a central feature of any home, whether owned or rented. This is because buyers consider high square footage since it means getting more room. It could influence your home’s value and the total space your house occupies in the real estate industry. The average size of a single-family room as of 2020 was 2,464 square feet, which reflects a steady increase compared to past decades. There are so many ideas for turning empty spaces in your home or apartment into places where you can spend ample time.
Finish up on your basement
People use basements in many homes to keep unwanted stuff (old toys, magazines, spoilt home appliances, etc. You can transform basements into usable areas like a home library, a bedroom, playroom, a gym, or a home theatre to add to your home’s Gross Living Area (GLA), thereby increasing your property’s value. The average cost of finishing up your basement ranges from $2,800 – $33,985 for a 400 – 1,500 square foot basement.
Transform the attic or loft
If your property has an attic, you should take advantage of it because it can serve many purposes. You can remodel it into an additional bedroom, office, a reading area, home studio, or home gym. It may cost you around $4,600 – $ 8,000 to transform your attic into a living space, but it will come in handy.
Add a garage
Garages have many uses, and if your home doesn’t have one but has the space for it, you can go ahead and build one. There are one-door, two-door, or even four-door garages. The type you opt for depends on the usable space you have available, your budget, and the number of cars you own. The cost of a garage is affected by the building material, the size of the garage, electrical works, etc. You could be spending between $7,500- $14,200 for a one-car garage and $19,600- $ 28,200 for a two-car garage.
Have an extra bathroom
Having an extra bathroom isn’t a bad idea, especially with large family sizes. An additional bathroom for guests and visitors will be best to prevent family bathrooms from being shared. The price of an extra one is lower than most people imagine; a half bathroom might cost about $6,000 or even less depending on the space. It’s a known fact in real estate that if the number of bathrooms is equal to the number of rooms, it has the potential of increasing the value of your property by 10% and the square foot of your home.
Another great option is transportable homes as they offer you convenience and functionality. You can have a contractor attach a mobile home to perfectly fit your property or have it separate from your main house. You can use it as a boys’ quarters, guest house, as you see fit.