Yahoo Finance I’m a Real Estate Agent: 10 Bedroom Renovations That Will Add To Your Home’s Value
When we think of renovations that increase home value, renovating the kitchen or the main bathroom comes to mind. What about the bedrooms, though? According to the National Association of Realtors, homeowners can recover 56% of their investment when they sell. You can sometimes add hundreds of thousands of dollars to the sale price, said Angelica Ferguson VonDrak, Associate Real Estate Broker at Sotheby’s International Realty.
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GoBankingRates tapped the insight of realtors VonDrak and Larry Propieri of the Mastropieri Group and Discover South Florida for an expert take on the best renovations to increase your bottom line.
1. Ensuite
The addition of an ensuite where there is none will add a ton of value, said VonDrak. Ensuite bathrooms that lead to the main bedroom are very popular with buyers right now who are asking for spa-like bathrooms, that feature a free-standing tub, separate glass shower and a double vanity. “They want all the space and the bells and whistles,” VonDrak noted.
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“If you don’t have one of those, adding it is where you want to start,” she said. “Adding that square footage to your house makes your house more valuable.”
Adding a primary suite to make the home three bedrooms opens up the home to a new class of buyers. “Now you’ve just opened up the buyer pool to a huge swathe of buyers who want a three-bedroom; you’re going to increase your chances of selling, and selling over asking by appealing to more buyers,” VonDrak said.
“We could be adding hundreds of thousands of dollars to the list price by adding an amazing primary suite to a home; It really depends on what you do with it,” said VonDrak. “It could be a huge return and be the difference between buying the house or not.”
VonDrak suggested putting the primary suite on the opposite side from the rest of the bedrooms, so it is a separate private retreat.
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2. Walk-In Closet
Walk-in closets are a must-have for many buyers. VonDrak recommends having a walk-through closet in the primary suite, where you can walk through to the ensuite.
“The more you can build out those spaces to make it feel like it’s a luxurious retreat that’s going to add value,” she said.
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3. Vaulted Ceilings with Big Windows
Vaulted ceilings with big windows add lightness and airiness to bedrooms, making them feel open and spacious. “If you can’t vault the ceiling and do a big bright cathedral ceiling, sometimes it’s nice to do a tray ceiling with integrated lighting,” said VonDrak.
“You can really set the mood that way and make [the room] feel [super] cozy.”
4. Private Access to an Outdoor Space
A lot of people are adding a private patio with a private hot tub to the primary suite, which will [make the space feel special,” said VonDrak. “A private space of some sort will make you feel like you’re on vacation; you wake up, go outside and have your coffee in the morning on your patio,” she said.
5. Feature Light
Whether it’s a massive chandelier, a modern flush ceiling light or a creative light fixture, an oversized ceiling fixture can create drama, beauty and impact to a primary bedroom.
VonDrak recommended installing a stand-out light feature in the middle of the ceiling. “A big, beautiful pendant fixture in the middle of the room can make the space feel really grand,” she said. “You’re trying to sell an aspirational lifestyle to the buyer; you want them to step into a space that they want to imagine themselves in.”
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6. Dimmer Lighting
Every light should be on a dimmer. You want to be able to change the lighting to set the mood depending on the time of day,” advises VonDrak. “Are you trying to wake up or are you trying to wind down and go to bed?”
VonDrak loves sconces that are wired on either side of the bed. “[This way] everyone has their own reading light that they can control,” she said.
7. Fire Feature
A lot of buyers love having a fireplace in the primary suite, it can be woodburning. A gas fireplace is a good option because it doesn’t create a mess; it’s a lot easier, but some kind of fire feature is really a good addition,” said VonDrak.
8. Feature Wall
Proprieri said building a feature wall can be a great bedroom accent element. A feature wall makes a great focal point for hanging art, wedding pictures, collectibles or treasured souvenirs from your travels. Bookworms might use the feature wall to build a reading nook out of floating shelves or a bookshelf, a comfortable chair and a reading light to unwind at the end of the day while reading their favorite volumes.
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9. Smart Tech Integration
Voice assistants, smart speakers, smart plugs and other types of smart technology aren’t just for the kitchen and living room. They’ve found their way into every room, including the bedroom. Smart tech allows homeowners to adjust the brightness, colors and intensity of lighting according to different activities from the convenience of a smartphone or voice assistant.
With smart home integration in bedrooms, you can raise or lower the heat or AC while reading without getting up, then turn off your favorite playlist when it’s time to hit your head to the pillow.
10. Update Flooring
Ripping up old carpet and replacing it with beautiful hardwood flooring always makes a statement and unifies a room. Suppose the owner doesn’t have the budget for hardwood. In that case, other options, including laminate flooring, provide a similar look to authentic wood for half the investment but still look natural and attractive.
What Do Bedroom Renovations Cost?
The price of what a homeowner will pay for bedroom renovations can vary, depending on geographical location, materials and labor costs as well as types of finishes, according to Propieri. He provides ballpark pricing on what homeowners can expect to pay for the most popular bedroom renovations and the return on investment they can recover in the South Florida area.
“[In south Florida], an addition of an ensuite bathroom can run $10,000-$30,000 [or higher], depending on finishes and can produce a 60% or higher ROI.”
“Adding a walk-in closet [costs between] $1,500-$5,000 or higher and can deliver an ROI 50% or higher,” said Mastropieri.
“New flooring and fresh paint can go a long way…likely providing a 100%+ ROI,” he said.
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This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: 10 Bedroom Renovations That Will Add To Your Home’s Value
