Favorite/Cheapest Ways to Add Value

[Frank Lo]

Hello BP

Considering buying our first home as a primary residence.

We want to start a family and move into a house we can call home.

With interest rates so low, we can get a great rate on a 15-year mortgage.

However, we do not plan to stay in this home for the next 15 years.

Our plan is to try to rent it out or sell it when we are ready for another upgrade.

That being said, what are your favorite ways to add value to a home that is already in good shape?

What do you see the best returns on?

[Amberly Jones]

Inexpensive ways: modernize via painting and updating finishes

Larger commitment ways: 

Evaluate your bed to bath ratio - sometimes an additional bathroom is significant.

Add an ADU (adds about 75% of your main homes cost per square foot, per square foot added by the ADU)

[Matthew Linn]

Amberly can you elaborate on the bed to bath ratio point?

[Blake Hernandez]

Soooooo.  Have you ever been to a Habitat for humanity - Restore? , thrift store or second hand store?  In the right area you can pick up "rental" quality and some times really high quality items on the cheap.  Light fixtures, fans, even large appliances.  One time I picked up an entire pallet of high quality white beveled subway tile for $300. Let me tell you lots of my rentals got pretty back splashes for little more than the price of mastic and a few hours of work.