Finding Extra Home Value in Overlooked Spaces

Posted by Julian Yates on Friday, May 29th, 2015 at 4:46pm.

Whenever I help clients sell a home, we identify all the value-added features of the property and work to accentuate them. Oftentimes, a little extra attention to a certain feature can return a big payoff. One thing that many people don't first consider is attic space, but there's a lot of value up in those rafters.

What tends to happen in a Florida home is that the attic gets used for storage and is largely forgotten about, except for around the holidays when we haul out the decorations. But if you're looking to upgrade a home, one of the first places you should look is up. Ultimately, an attic can serve one of two very important roles: energy efficiency or livable space.

Energy Efficiency
Although the Department of Energy has minimum requirements on attic insulation, that is one of the places in the house that you can go above and beyond, really save some money, and increase the value of the home. It's generally accepted that upwards of 25% of a home's heat is absorbed through the roof, but with added insulation comes decreased energy costs. Extra insulation also dampens and absorbs outside sounds -- traffic, airplanes, and the like.

Whether you're moving into a house or want to increase its value in order to sell it, increasing its energy efficiency is a great value to add. Nevertheless, if your attic is amenable, there may be an even better way to go. Although it costs a bit more than just adding insulation, it has an even bigger payoff.

Living Space
Do you remember how much Greg and Marcia argued about who would get the attic as their bedroom? Livable space was important in the Brady household, and chances are it's important in yours as well. Most experts agree that transforming an attic into a functional bedroom is one of the best home improvement projects you can do.

Most homeowners can recoup 70-80% of their expenses when they sell the home, and adding that air-conditioned square footage to the house without actually having to expand its footprint is a huge plus. Remodeling an attic is certainly more expensive than merely adding insulation, but compared to the costs of building on an entirely new room, converting the space that already exists is a much smaller investment with much bigger dividends.

Value Under Your Feet 
If you happen to live in one of the rare Florida homes with a basement, consider the possibilities of that space as well. Most people are storing their stuff across town in a rented unit, preferring to do more living at home. Just like the attic, the basement can be a prime candidate for a livable bedroom, game room, guest room, office, studio, or hobby room.

Basically, people are looking for a place where they can live the lives they imagine. If you've got space under a roof, make it livable space. You'll be increasing the value of the home and the quality of life for those who live there.

Do you need help selling your home? Julian is an experienced sellers' representative and can help you negotiate the best value for your property -- and help you find your next dream home! Contact Julian today to get started.

 


Sarasota Area Real Estate Specialist

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