Value-add construction is a common form of construction used to renovate and increase the value of a pre-existing building. Oftentimes, offices and residential buildings take part in value-add construction renovations to increase the value of their property, therefore, improving the ability to increase rent or resale value.
Value-add construction involves interior renovation and upgrades to various features of a property. There are certain new construction upgrades that add value immensely to any property – no matter its occupancy. Here are the top 6 value-add construction features that can transform your property.
Open-floor plans are not only trendy currently, but they can bring significant value to your home or property. Not only do open-floor plans add square footage to your property but they also increase efficiency opportunities within your office or home.
An open arrangement allows for more natural light to come in therefore decreasing electrical bills. Natural light is also great for providing a welcoming feel which is a crucial factor when a prospect is looking to purchase or lease a property.
Hardwood flooring is a necessity for value-add construction. Hardwood flooring is oftentimes a deciding factor for a person looking to purchase a property. It truly has the ability to transform a space. If your property already has hardwood flooring, we recommend refinishing it to give it a fresh look!
If traditional hardwood flooring is outside of your budget, there are many new and authentic alternatives like engineered hardwood or wood tile flooring.
Improved cabinetry and appliances can truly transform a property. When adding value to a property, be sure to rid the property of outdated cabinetry and appliances. Install stainless steel dishwashers, microwaves, ovens, and more.
Incorporate sleek cabinetry to give kitchens, offices, and more a modern look. Updated features are one of the best ways to increase the value of a property in the shortest amount of time.
Never overlook the power of a fresh coat of paint. Find the perfect color to elevate a space and use it to add value to each room. Light colors are often recommended as they make a space feel bigger, more welcoming, and brighter.
Additional amenities are the ideal value-added feature to increase rent or draw in buyers. By adding amenities, buyers can truly understand the added value of living in your property. From pools to gyms, amenities are key to helping your buyer picture a life in your space.
Some popular amenities often added to properties are:
Operational inefficiencies can be costing you hundreds of dollars each month. By improving certain systems in a property, you can add value by reducing the overall cost of rent.
For example, by installing new HVAC systems, you can reduce the cost of heating and cooling creating savings for buyers or renters. Upgraded electrical systems, such as LED lighting, can reduce electricity costs. On top of that, buildings with sustainable practices and features can receive additional cost savings via tax credits.
These are just 6 of many new construction upgrades that add value to your property. Focus, a leading value-add construction provider, can help you transform your property and increase its value significantly. For more information on how we can help you, reach out to Focus today!