Not all home additions are created equally, as some can decrease your property value instead of increasing it as many believe. Generally, homes appreciate (increase in value) over time, but there are certain factors that can make them depreciate and certain changes to your home can be one of these. Certain home additions can increase property value in some places, but decrease property value in others. Here’s a look at four home additions that will increase your property value (and square footage) if you live in the state of Pennsylvania.
As the name suggests, a sunroom is a room in your home that allows the sun to shine through at multiple angles, including the roof. These rooms are made up of glass and wooden frames and don’t require any additional heating or cooling— which makes it one of the least expensive additions to your home. Some other benefits of having a sunroom include:
- A place to enjoy mild weather conditions without being affected by them
- Extra space in your home
- Having a garden without worrying about extreme weather destroying them
Because Pennsylvania has various types of climates within the state, a sunroom may not be desirable for all residents across the state. For example, the southeastern part of the state where Philadelphia lies is more humid than in the northeast near Scranton. So Philadelphia residents may not be able to enjoy their sunroom in the summer in the same way Scranton residents would.
#2: Extend Your Kitchen
According to real estate agents, the kitchen is the most important room in the home— which is why kitchen renovations are so popular and why they also add value to your home. A spacious kitchen is a desirable feature of a home, which is something to consider if you’re planning to sell your Pennsylvania home. Even if you’re not planning to sell your home, extending your kitchen will give you more space to cook and serve meals for daily use and for special occasions. Some ideas for your extended kitchen can include:
- A kitchen island
- Additional seating
- Breakfast nook
Extending your kitchen is also a great time to update some parts of your kitchen. Because extending your kitchen can cost anywhere from $6,000 to $26,000, these updates can be as small or as large as you want them to be. Updating your hardware, lighting, countertops, and flooring makes the most sense with a kitchen extension.
#3: Finish Your Attic and/or Basement
While this renovation isn’t exactly an add-on, it is a way to increase the square footage of your home. Converting your attic or basement into an additional bedroom is a great way to add another bedroom without having to build on to your home. In fact, some homes may not have the space to build an addition. Other rooms that you can make out of your attic or basement include:
- Home gym
- Home office
- Theater room
Just keep in mind that in order to convert an attic into a functional room, there must be at least seven feet between the floor and at least half of the entire ceiling area of the attic. You must also be able to install a stairway to access the attic once it’s been converted.
#4: Deck, Patio, or Porch
As demonstrated by a sunroom addition, not all home additions have to be a room on the inside of a home. Consider a deck, patio, or porch addition to create an outdoor gathering space— as the kitchen is the gathering space for the interior, a deck, patio, or porch can be the gathering space for the exterior. The possibilities of what you can add to this gathering space are endless:
- Outdoor Kitchen
- Seating area
- Swimming pool
Consider hiring professional porch, patio, or deck builders— whichever type of gathering space you prefer— to build this outdoor area for you. This type of home addition also enhances your home’s curb appeal, which in turn increases your property value.
These four home additions— whether you choose only one or all four— will make your home feel bigger and more spacious. So even if you don’t plan to sell your home in the near or distant future, you’ll be able to enjoy these additions yourself. On the other hand, if selling your home is your goal, these are affordable home additions that give you an ROI (return on investment) of at least 60% in Pennsylvania.