Maximum Value Big Ticket Upgrade Projects: Master Addition
Master bedrooms with extra living space and amenities are one of the most desired trends in real estate, so even though this project might be a bigger ticket item, if done correctly, it can add serious value to the property.
- Spa-like experience. Nothing takes a master bedroom to a master suite quite like a fabulous bathroom. High-end fixtures and amenities, such as radiant heat flooring, steam shower and free standing tub are just a few of the desirable wish-list items that up the ante on the typical bathroom's appeal.
- Masterful closet space. In almost all modern master bedrooms, a walk-in closet is standard. Cramped, over-stuffed closets are a turn-off for potential homebuyers. If you don't already have one, design a walk-in closet or elongated closet into your master bedroom project.
When it comes to a master addition, bigger is not always better. According to appraisal expert, Leslie Sellers, president of the Appraisal Institute, the biggest mistake a homeowner can make it is building out of proportion with the rest of the home.
"Even if the bedroom is decked out with all the best features and amenities, if the rest of the home is smaller concept, the master addition is going to look out of whack and disproportionate," Sellers says. You'll add more value to your home if the addition looks like it's always been there.
- On a Budget: If a master addition is what you desire, but adding on extra square footage just isn't in the budget, consider turning a bonus space, often above the garage, into a more updated and spacious master bedroom. Transform the bonus room by adding architectural elements that make the space more functional. Bring in more light with a skylight or add shelving that mimics built-ins to aid in storage. With more room, a reading nook or office space can easily be accommodated. Being able to designate a larger space to the master bedroom can instantly boost home value.
- Mid-Range: When trying to keep cost from becoming a hassle in your master addition, look to local home improvement and building closeout stores that sell materials for a lot less than retail. Many times, these materials are 50 to 75 percent of what you would normally pay in your larger home improvement stores. Materials range from lighting to flooring, doors to cabinets, which can make a master addition not only a worthy and attractive investment, but can also save you the headache of continually crunching numbers or leaving out a much wanted amenity.
- High-End: The beauty of building out your own master addition is that it allows you the opportunity to develop your own custom plans. Turn your master addition into its own separate living space-- a place to go to recharge and relax in privacy. With today's features and amenities, almost anything is possible. From a sitting area with fireplace to an in-suite bathroom with steam shower and radiant floor heating, turn your master addition into a masterful getaway without leaving your home.