The home is one of the largest investments that a majority of people will make in their lifetime. Since it’s such a big investment, it’s important to think about how value can be increased. Always consider location when you buy, since location is often the biggest indicator of value. Remember, buyers of your home expect to see that things have been properly maintained. Given the location and that the house has been maintained, certain additions can add value to your house or make it easier to rent. Here are a few things you can do to your home to add value and increase rent-ability.

Home Office

More people are now working at home, either full or part-time, than ever before. Many jobs are shifting to allow people to work from home. It’s been shown that the productive person will continue to have motivation, even when working from home. A home office is extremely important for those people that work at home or do a decent amount of work at home. This can be a place where you can take client calls without the noises that come with children and pets, and away from the clutter of your life.

Nice Outdoor Backyard Space

A nice outdoor space in the backyard can be great for entertaining. A pool is not always the most practical addition to the home but for those that live in warmer climates, like Florida, a pool can be enjoyed for the majority of the year. An outdoor kitchen can make it much easier to host a party without having to worry about cleaning inside the home. A nice deck that has a grill on it can be the perfect place to cook as well as relax. Do not underestimate the value of having a backyard oasis to take the edge off of a stressful day.

In-Law Suite

The in-law suite can be quite appealing to many buyers looking for a home. This can be perfect for an older family member or an opportunity to collect monthly rent by putting a tenant in it. Not sharing a door or bathroom, and having a separate kitchen makes this an apartment of its own. If you are going to continue living in the home and still want to rent this out it, can be a good source of income. The one issue would be with a renter that refuses to pay rent on time. It can be very uncomfortable for a family to be at odds with a renter that they might see daily. Hiring a property management company is an option as Housing Gurus notes. This will allow for some separation between the owner and tenant, and would allow the manager to handle problems as they come up.

Get Rid Of That Old Carpet

The last thing that many buyers or renters want is to deal with the problems that come along with having carpeting. This can be easy to stain and if you have pets it can become ragged in a matter of months. Replacing carpet with hardwoods or tile will make the home look more modern and will be much easier to clean. Take a look online to get an idea of how much this is going to cost. Many flooring stores have deals at least once per quarter and around the holidays, so look out for this to make it as affordable as possible.

As you can see there are plenty of additions that will increase the value of the home as well as make it more sellable. Take a look at where your home could be improved today!