Maximizing Space, Minimizing Cost, and Potentially Profiting
Firstly you want to seek consultation. Plans will fail when there isn’t good counsel to inform them. With a lot of counsel, plans succeed. So ask friends, ask family, ask local contractors you know. There are permits and building regulations to consider. You don’t want to do anything that isn’t “up to code”. This can have many negative consequences.
With consultation, you can determine which areas of your home can be most cost-effectively remodeled. Some are going to work better for you than others. Following, we’ll explore a few general remodeling and renovation ideas to help stimulate your imagination.
Maximize Existing Spaces, Green Energy Options
Attics and basements often go unfinished, and there’s no good reason for that except procrastination—and what’s good about putting off benefits to your own home? Basements can be home theaters, “man caves”, bedrooms, or organized storage spaces. When basements are finished they make homes more valuable.
Attics can be made into observatories, bedrooms, storage spaces, reading rooms, or home theaters—depending on the structural stability of the attic. Both of these remodel ideas are relatively cost-effective, will expand property value, and will give your home additional utility. But there’s a third space maximization option that often goes unsung.
Green energy through solar can be had for $5k, and you’ll see $10k to $20k in property value increase depending on your state, net tax break depending on your state, and see utility bill reduction—provided you install the panels yourself.
It’s a matter of mounting them and sending the wires in the right place. Contractors could double the price. They’ll do better but cost more. Either way, at a minimum you’ll break even, maximizing the underused space of your roof.
For the DIY angle, surge controllers, positive and negative cables, a battery array to store energy, and power inverters will cost you around $1,900 if you shop smart. Solar panels are $100 per 100-Watt panel at the basic level—better panels will yield better property value expansion.
Altogether, $5k gets you a DIY 3.1 kWh solar energy array on your otherwise empty roof, increasing property value.
DIY Additions: Decks, Interior Remodel, Property Additions
A DIY deck can be pretty simple to put together with materials you pick up at the lumberyard and online blueprints. Get a contractor friend to help you with a case of beer, you can finish a good-sized job over the weekend.
Additionally, interior remodel can be done by homeowners. Painting, wallpaper, and even knocking out non-structural walls represent doable remodel avenues.
You can also add to your existing property. Building a tiny home can be done for as little as $500. Generally, tiny homes can be built at a pretty reasonable quality for under $20k.
You can rent them out, or use them as guest houses. This could also be a shed or a man-cave. Provided you get it done up to code and zoned right, you can expand property value this way.
Something else that’s pretty worthwhile is installing new cabinetry. Going the online route can provide you with greater selection in cabinetry design, giving you access to designs like Ready To Assemble (RTA) cabinetry. You can browse the following website for an excellent selection of solid wood kitchen cabinets.
Reconfigure Furniture and Install Your Own Home Theater
You might switch around the furniture in your living room for the purpose of installing a theater-sized flat screen TV installation. Alternatively, if your living room’s light can be controlled, you can get a cost-effective in-home projector and a blank screen.
Alternatively, if you’ve got a wall the right shade of white, that can be your screen. Repainting the wall for this isn’t a bad idea.
When complete, you can “stage” the room and bill it as a home theater. A projector of decent quality can be acquired for around $5k—some as cheap as $1k or less. Paint is inexpensive, and furniture arrangements are up to you. If you’re not looking to sell the property with the theater, at the same time it’s an awesome home addition you’ll get a lot of use from.
Working Smarter, Not Harder
Totally renovating the kitchen or bathrooms the right way can be cost-effective and represent remodeling profit. But it’s going to be harder to get the job done, and these difficult remodels often stretch out further than you might expect.
Alternatively, furniture reconfiguration, space maximization, and DIY projects can deliver more value of the direct and deferred variety at less cost.