For those of you who own a house, you may be considering if you should sell it or not. But if you have a backyard, consider building a guest house to bring in some extra income. Yes, it costs a lot to build a guest house. But the investment may be worth it if you can make a profit on the rental income. Here at Home Addict, we already wrote a list including all of the reasons you may want to build a tiny house: 40 Reasons to Jump on the Tiny Living Train.
According to iBuyer, “You can determine your guest house value by subtracting your annual overhead costs from the annual rental income (if you’re planning to rent it out). Then, add your equity build and divide everything by your total building cost. The rental income you receive is your cash flow, which can make a guest house an ongoing lucrative venture.” (via Realtor)
Similar to trim and molding, wainscoting tends to elevate a space, even when it’s an empty room. The difference is that wainscoting takes up half or the entire wall with wood trim. If you happen to be handy, you can install wainscoting yourself. There are many tutorials online that will help teach you how to do it on your own.
According to Home Advisor, “The price of wainscoting ranges from $7 to $40 per square foot, depending on the type of panel. Installation costs average $90 per hour or about $5.50 per square foot, including materials and labor.” (via Lowes)
We now live in a world where a lot of people work remotely, or they have a hybrid work situation. If you haven’t already created a home office, then you might want to consider building one. It could be as simple as buying a small desk to fit into the corner of your bedroom. Or, you might want to convert your guest room into an entire office space. That really just depends on the amount of space you have available at your disposal.
Maybe you already have a home office, but you’re struggling with the day-to-day realities of working in it. Here at Home Addict, we’ve already created a post filled with advice on how to upgrade your home office space. Upgrade Your Home Office With These Simple DIYs.
If you’re thinking about remodeling your kitchen, an island may be all you need. It gives you additional storage and seating space in one. And it looks so stylish and luxurious, it instantly elevates the look of a space. This is especially true if you install an island made with marble or any other stone top.
According to Nerd Wallet, “While adding an island to your existing kitchen design can be costly, the project is relatively inexpensive when compared with a full kitchen remodel. Kitchen islands cost an average of $3,000 to $5,000”. There are some people out there who have created their own kitchen islands for under $1,000. You just need to have some skills in woodworking. (via Nerd Wallet)
Having a small kitchen is a deal breaker for a lot of people, especially if they love to cook. So it’s understandable if your kitchen is the reason why you want to move to a new house. We have already suggested giving your kitchen a total makeover, or buying a kitchen island. But both of those options cost thousands of dollars. A much cheaper option is to purchase additional storage. It’s possible to buy extra cabinets to hang in your kitchen that match the rest of what you already own.
If you’re renting, you can’t install new cabinets or do major renovations. But you can still purchase storage like a rolling cart, or hang shelves on the walls. At the end of the day, good organization trumps having a larger kitchen space to put all of your stuff. So look for some organization tips for your kitchen, and you should be able to fit everything you need, even into a small space. (via Better Homes and Garden)
Earlier on this list, we already suggested buying art, or even making a gallery wall. But there is something else you can do to elevate your space even further. Statement pieces are objects in your home that look artistic, even if they’re just everyday things. They really stand out and say a lot about your personality.
Usually, your eyes will immediately go to a statement piece when you walk into a room. Think about a room with a huge, fancy chandelier or an unexpected statue sitting in the corner. Then, the eye will travel across the room from there. You really only need one statement piece per room, unless you’re a maximalist. (via Hadley Court)
Do you have a big collection of things, but nowhere to put it? Having a lot of stuff can quickly turn into a hoarding situation if you’re not displaying everything on a shelf. Once it’s on display, it looks really tasteful, and can be a great way to personalize your space.
If you’re thinking about moving to give your kids a better place to grow up, that’s completely understandable. But if you have a backyard, one of the things you can do to make it immediately better is to buy them a playhouse or a swing set. If you want to buy a swing set, expect to pay between $1,000 to $2,000. But a small play house will only cost around $200 to $300.
Here at Home Addict, we made a list about Outrageously Expensive Luxury Playhouses. Check that out to see what millionaires do for their kids. Maybe you can’t copy exactly what they did, but it’s still shocking and sort of inspirational.
Sometimes, if you get sick of your living space, it could have to do with the airflow of the room. Installing ceiling fans will help with circulating the air, and it can even cut down on heating and cooling costs. Most ceiling fans cost between $150 to $200 apiece.
According to The Spruce, ceiling fans also add to a home’s value. “Ceiling fans make a great addition to any home. Adding a ceiling fan to a room can add both beauty and comfort to a room. They give a room character and its own source of air movement. Ceiling fans come in a wide range of prices depending on the size, style, and quality of ceiling fan. Adding ceiling fans to rooms like bedrooms, the living room, or family room will add value to your home immediately.” (via The Spruce)
Something that a lot of homeowners let slide is getting their HVAC serviced regularly. They’re supposed to have it repaired at least once a year. And according to Energy Air, “The Department of Energy recommends homeowners replace their HVAC system every 10 to 15 years. Modern air conditioners are durable, but their major components will begin to deteriorate after around ten years depending on how often you use and maintain them.”
“According to HomeAdvisor, full HVAC unit replacement costs range from $5,000 to $10,000, with the national average at $7,000. This comes out to about $25 to $60 per square foot. Prices depend on the size and brand of the HVAC system, the size of the house, ductwork length, and the new unit’s efficiency rating.” (via Bob Vila)