5 of the Most Profitable Home Improvements for the Luxury Market
When you own a luxury home you want to ensure that when you go to sell it you are receiving the biggest bang for your buck. Typically this means making sure that any additions and improvements made to your home are ones that have the best odds of being profitable. With that in mind, let’s explore a couple of additions that have been proven to be the most profitable in luxury homes.
A True Living Room
If your home lacks a true family room or has one that can be spruced up, this
is a great way to not only bring the family together but also get a nice return
by adding some additional resale square footage.
The Bathroom
You may not see the significant return on investment like with some of the
other upgrades described here, but a larger or modernized bathroom will
certainly have its perks among certain buyers.
Adding a Story
Is your luxury home a single story residence? If so, why not consider adding
another floor to it? In order to be competitive in today’s market, two-story
home is practically a requirement. This may likely include having the
aforementioned family room on the first floor and a luxurious master suite on
the second. With the additional floor, it’s almost like having a blank canvas
full of different ideas you can entertain and implement that will help to give
your home a profitable edge if and when it comes time to put it on the market.
An additional bedroom or two for guests or growing families, a home office
space with all of your necessary items to get work done, the options are
essentially limitless.
Update Your Kitchen
As opposed to a full kitchen remodel, a minor remodeling involving something
such as replacing appliances for newer ones, swapping a countertop for one with
natural stone or granite can result in great resale perks. After all, your
kitchen is one of the rooms that is going to sell your house, so it only makes
sense that it is as polished as possible.
The Front Door
Looking for something quick yet effective? Why not change up your front door?
Considering it’s one of the first things you, your guests, and prospective
buyers will see each and every time you walk into the home, it’s something that
could use a replacement. Plus, the entry door will also be one of the first
things a buyer will notice as they walk inside the prospective home they intend
to purchase. This replacement won’t take very long and can be completed during
the afternoon.