Homeowners looking for ways to increase their property value can do so with the right upgrades. According to the National Association of Realtors, a luxury home is defined as a home in a prime location with a high price point and premiere quality finishes and materials.
So, which are the best luxury home additions that will boost your property value and make it worth even more?
Here are six of the best luxury home upgrades you can make to increase the value of your home and why they’re the best options for your investment.
- Modernize Your Kitchen
One of the smartest and most valuable luxury home additions you can make is to upgrade your kitchen and make it more modern. Sleek, elevated finishes for flooring, lighting, and fixtures bring your home a fresh, contemporary look with high-end features that buyers love.
Consider installing some smart kitchen features like sensor-driven, touchless faucets and smart appliances you can control through a smartphone app. Solid surface countertops, solid wood cabinetry with custom features, and sleek lighting are excellent options to give your home a higher asking price.
While renovating a kitchen is one of the most expensive options, it also tends to have the highest return. Look at each component of your current kitchen, and ask our company about ways we can help you transform this room into a high-end cooking and gathering space.
- Elevate the Bathroom
Luxury home buyers want their bathroom to feel like a spa retreat. Updating the bathroom or bathrooms in your home is one of the best ways to ensure property value enhancement.
If possible, make the main bathroom larger and install upgrades like a sleek jetted soaker tub or a massive tiled walk-in shower. New flooring, a new vanity, and new modern lighting instantly make this part of any home look sleek, fresh, and new.
Choose high-quality faucets and other bathroom fixtures in the same style or design and finish to give the bathroom a cohesive look. Small touches like LED-lighted mirrors, a rainfall showerhead, or hidden Bluetooth speakers can help to add value to your property.
- Eco-Friendly Luxury Home Additions
Not all of the home addition ideas on our list involve remodeling or renovating. Today’s modern homebuyers want properties that are as energy-efficient as possible.
Consider making some impactful and sustainable upgrades like solar panels, inspecting and re-installing better insulation, upgrading to more energy-efficient windows, and installing a tankless water heater or a mini-split ductless HVAC system. Not only will this save you money while you live in the home, but it also makes your property more attractive to prospective buyers.
Ensure that every appliance in your home is Energy Star Certified. Even small touches like solar-powered outdoor and landscape lighting can make a big difference when it comes to ROI.
- Maximize Extra Space
If your home already has a basement, a large garage, a decent-sized shed, or a FROG (finished room over a garage), try to make the most of it. For example, convert your unfinished or unused basement into a home gym or a stylish “man cave.”
Extra rooms should be transformed into a place where new homebuyers can envision themselves working out, getting work done, or spending time with their family. Whether you convert these areas into a theater room or a lush home office, there’s a good chance buyers will be impressed.
Just finishing those unfinished areas can have a significant impact on your luxury home’s resale value. Install drywall, new lighting, and flooring to make this part of your home look livable and usable for someone else to enjoy.
- Don’t Forget the Outdoors
If you own a luxury home, there’s a good chance you have a decent amount of outdoor space. Whether that’s a large and lush backyard or acres of land, try to make the most of this space if you want to boost your ROI.
Install a custom-built deck with seating and lots of space where homebuyers can spend time with friends and family. A nice outdoor kitchen with countertops, a quality grill, and seating will also impress prospective buyers.
Updating your landscaping or doing other upgrades to improve your home’s curb appeal is also a great way to increase property value. Whether you paint the front door, install high-end outdoor lighting, or update your driveway, all of these options can give your home a boost in value.
- Add a Second Story
Adding a second story to your home is certainly a big undertaking, but it also increases your property value by leaps and bounds. This new addition gives your home more square footage and more livable space.
This brand-new story is perfect for a wide range of uses. It can be transformed into a large master suite with a luxurious attached bathroom and walk-in closet, a nice home office with a view, or a big open floor plan for a movie room, home gym, or simply a family hangout space. Whatever you choose to do, this addition is a good option if you’re looking to increase home value by a significant amount.
If you’re planning to add another story to your home, make sure you hire a reputable, experienced contractor. The team at Nutone Construction will work with you to come up with a floor plan that suits your lifestyle and your property value goals.
Upgrade Your Home and Your Life
Whether it’s a sleek new kitchen or bathroom or some eco-friendly upgrades, these luxury home additions will help to increase your property value. Focus on specifics like finishes and materials, convenience, and functionality to help you ensure that you get the most bang for your buck.
Nutone Construction brings over two decades of expertise to your home projects, always ensuring that every addition we provide is not only aesthetically pleasing but also strategically sound and customized to meet your unique needs. If you’d like to learn more about our services and want to see how we can transform your space with integrity, creativity, and unmatched quality, contact us today.