Create more space in your current home If you’d instead expand your current home to make more space, here are some helpful tips. Budgeting and financing a home remodel: Consider how much money you’re willing and able to spend on your project. You may be able to take out a home equity loan to help fund it or look into getting financing plans from local remodeling contractors. Home addition ideas: Perhaps you need a more oversized master bedroom, or your living room feels cramped. Go over the areas of your home that need more elbow room and focus on those areas only. Sit down with an experienced architect or contractor who can help you come up with the best usage of your money, space, and time. Add more storage: If storage is your biggest concern, a shed or new garage might be your best option. You can also look into under-house storage ideas, like finishing your basement or creating a laundry room underneath the home. You may just
Save on utility costs: Consider installing a smart thermostat to help you save on utility costs. Upgrade your windows and add more insula - tion to save even more. Outdoor space: I f you have a big backyard, there’s plenty to take advantage of. Add a shed for storage, buy an inground swimming pool, or start your own backyard garden. Rent out a room: I f you want to make some money off your home, consider renting out one of your rooms to help cover the mortgage or your monthly expenses. You can even take advantage of the extra space by becoming a vacation rental owner if you don’t want to commit to a long-term tenant. More storage: A larger home means more storage. Use the attic or basement to store holiday deco - rations, lawn and garden equipment, and tools.
Space for your hobbies or lifestyle: When you have more room, it gives you greater opportunities to do the things you enjoy. For example, turn one room into a home theater, add a sports court to the backyard, or give the kids a fan - tastic backyard playground so they have a nice outdoor area to burn off all that extra energy. Whether you’re thinking of moving into a larger home or you prefer to remodel your existing one, keep all of these things in mind before you upsize. Having more space provides you with the opportunity to grow and enjoy your home even more. Whether you choose to upsize your living space, it can be a smart financial move and a great way to make your entire family happier.
need to downsize some of your belongings to give you and your family more space in the house. Finding a contractor: Ask people you trust for references to some local remodeling contractors. Always get at least three estimates before you make a final decision. Your contractor should be responsive to your needs and get the job done within a reasonable budget and timeframe. DIY Home Upsizing Projects You don’t need to pay a professional to upsize your home. Here are some ways you can DIY your home upsizing project to save money. Repurpose existing rooms: If the kids have moved out, repurpose their old bedroom and
turn it into a home office or a craft room. Look at the rooms that aren’t being utilized in the best way and develop new ways to enjoy them to get more space. Doubling up rooms: Siblings can share a bedroom, which will free up space for other things. You can also consider knocking down a wall to create an open floor plan that combines your living and dining rooms. Multipurpose rooms: A large master suite can easily double as an office area, as can a living room. Explore the rooms you have that could be turned into multipurpose rooms so that you’re getting more use out of them. If your kitchen is relatively large, consider adding an island so that it becomes an eat-in kitchen and dining area, too.
Taking Advantage of a Bigger Space There are several ways to take advantage of having a bigger space: Wise financial investment: There is always a demand for larger homes, which means that your bigger house can have a higher resale value if or when you ever plan to sell it later. Add a workspace: Having a bigger home provides you with a place to design an appropri - ate home office or start a home-based business. Use task lighting: Install lighting that helps you create a well-balanced space. The proper lighting can enhance the way you use a room and how it looks and feels.
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NOVEMBER/DECEMBER 2021 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • NOVEMBER/DECEMBER 2021
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