DIY experts gear many home improvement methods towards people wanting to sell their house. Making improvements to your home can raise its value and its attractiveness to buyers. From replacing the front door to installing a new kitchen. But even if you never plan to sell your house, there are reasons that you might want to raise the value of your home. Selling your house isn’t the only way to make money from it. You can rent out parts of your house and generate cash in other ways too. So making home improvements isn’t just for those looking to sell one day. If you plan to stay in your house until the day you die, consider some of these home improvements to make the most of your assets.
Add a Spare Bedroom
More space in a house equals more value. Extra bedrooms will always add more value to a house, and this can be useful even if you don’t want to sell. One option for generating income from your house is reverse mortgages for Canadians and people in other countries. Using a reverse mortgage you can turn the equity in your home into money. So improving the value of your home could be beneficial for this purpose. A spare room is also great for renting out, or just to have for guests. Another way to generate income from a spare room is by running a business from it.
Spruce Up the Garage and Drive
Making improvements to your garage and drive is a good idea too. Many people don’t use their garage for their car anymore, so if you don’t use yours why not rent it out to someone else? And if you don’t use your drive either, that’s another parking space that someone can rent. Drives are easy to maintain, but might periodically need tarmacking or regrouting. Your garage probably just needs a clear out. And if you don’t want to rent them out, keeping your garage and drive tidy will at least make you look good in front of the neighbours.
Convert the Attic or Basement
As with a spare bedroom, making the most out of an attic or basement will increase your home’s value. Instead of a space that isn’t doing anything, you can turn it into a fully-functional room. Raising the value of your home doesn’t have to be all about you. If you’re planning to leave your house to someone, you can think about passing it on to them in tip-top condition.
Add a Granny Flat
Perhaps you don’t like the idea of sharing your house with someone staying in your spare room. But converting part of your house into a granny flat means you get to keep the use of your house. And you make some extra cash from the separate annex you’ve created. The flat can have a separate entrance and all of its own facilities, so whoever lives there needn’t come into your home at all.
The main reason to spend money on home improvements when you aren’t look to sell is your happiness. Even if you aren’t looking to make any money, do it because you want your home to be the best it can be.