When it comes to making upgrades to your home, there’s no shortage of things you can do. Some improvements boast a strong return on investment. This means when it’s time to sell the home, you can recoup almost all or more of what you initially spent. These types of remodeling projects are especially worthwhile if you plan to sell the home in the near future. These projects tend to be practical as they help bring your home into the future through modernization and updates, especially where technology is concerned. Still, your home is your castle and you should definitely get the most out of it. Of course, if you’re in a condo, make sure to get HOA approval before any of the following remodel ideas! Here are some improvements that make your home into the palace you deserve.
Water Feature
The right water feature or swimming pool can instantly elevate your backyard into a private getaway. On a hot summer day, a sparkling pool provides hours of fun, allowing you and your family to cool off and enjoy the outdoors. Depending on where you live, adding a water feature to your backyard may increase the value of the home, especially if you live in a neighborhood where most residences have swimming pools. Imagine being able to get good, low-impact exercise regularly from doing laps in your own private pool, or enjoying a sunset with a glass of wine in a hot tub. Look for a design that complements the features of your home and yard. Tricked Out Basement
One might argue that finishing the walls and floors of a basement with basic, neutral finishes is the way to go. That’s probably the best if you’ll be selling your house soon; however, a basement holds great potential as an additional activity room, a bedroom or something even more customized like a private study, or a wine cellar. Go ahead and splurge to make the basement as luxurious and inviting as other parts of the home. Perhaps you can convert it to a media room or a private theater. Add a wet bar so that you can entertain friends and family or host a viewing party. If your basement has large windows, they might open to eyesores. Consider installing window wells that provide an attractive, natural-looking surround for your windows.
Home Elevator
Installing an elevator in a multi-level home is an upgrade that may prove its value in the long run. If you have a three- or four-story home, an elevator is a great feature to have, especially if injury or mobility issues make stairs a potential hazard or impossible to climb. Elevators are categorized by their drive systems:
- Cable-driven elevators are similar to what you find in commercial buildings. They include a shaft, car, control system and counterweights. Some models require the use of a mechanical room. This system tends to be best in new construction given its large footprint.
- Chain-driven elevators are similar to cable-driven elevators, except they use a chain wound around a drum. These chains are more durable than cables, and these systems don’t require a mechanical room.
- Traction or machine room-less (MRL) elevators slide up and down a track and use a counterweight. As the name indicates, they don’t need a mechanical room, nor do they need spaces that extend into the ground. They do require space on top to house the lowering and raising mechanisms. These are good options for existing homes.
- Hydraulic systems work with a piston inside of a cylinder. The power system fits inside the shaft and the controller can be housed in a cabinet near the elevator itself. Look for a hole-less system that doesn’t require a below ground deep pit.
- Pneumatic elevators are the easiest to retrofit inside a home as they require no pit nor mechanical room. They use a vacuum system inside of a tube to operate.
Pneumatic and hydraulic systems are among the more expensive options, running from $30,000 to over $40,000 for installation. MRL elevators will run from $10,000 to $18,000 to install. Be sure to choose an elevator system for which local repair and maintenance service is available.
Luxury Flooring
Reclaimed wood floors or high-end natural stone tiles can instantly bring a luxurious edge to your home. Handcrafted, artisan tiles can add a special designer touch to a powder room or foyer that will earn compliments from visitors. Polished concrete can be a nice choice for a house that features modern and contemporary design and décor. Consider installing a radiant floor heating system for your bathrooms and other common living areas. Walking on warm floors while barefoot is another level of luxury you might really love. Radiant floor heating systems may be either electric using heated wires or water-based, with hot water running through pipes.
There’s no rule that says your home renovation projects should be limited to those that have a strong return on investment. Your house should be a place that you enjoy spending time, both inside and outside. If you can afford to splurge on luxury upgrades, you should!
