If you know anything about raising homes, you know that it’s an involved process that takes time, planning, and professional equipment. So, in addition to providing security and functionality, does lifting your house add value when it’s time to sell?
Without a doubt, the answer is yes! Lifting your home adds a ton of benefits and appeals to prospective home buyers. Below we give you the top four ways lifting your house will get you more when it’s time to close the sale.
Ways Lifting Your House Increases Its Resale Value
Lifting your house or raising its foundation exponentially increases its value. As a homeowner, you can make significant improvements to and investments in your home by working with a professional lifting team. Below are four ways lifting your home increases its resale value.
Flood Damage Mitigation
Flood damage prevention remains a primary reason homeowners choose to lift their home. Yet, current studies estimate that nearly 15 million properties are at immediate risk of flooding. This number is roughly 2.5 times higher than federal estimates. And what’s worse, those numbers are projected to grow.
When you think of flooding and flood plains, you might assume that the properties at greatest risk lie on the coast or along lakeshores. But, while these houses certainly are at risk, flooding happens all across the country. And stats tell us that most people aren’t financially prepared for a flood to strike.
That’s why lifting your house is a smart move no matter where you live. Raising your home a few feet—or more—keeps your house, your things, and your loved ones safe from unexpected rising waters. Raising your home benefits you in the present, and it will increase your home’s resale value when that time comes.
People shopping for homes want their investment to last. And lifting your home ensures homebuyers that they aren’t investing in flood risk. Home shoppers will pay more for a home they know will stand the test of time and water.
More Storage
A crawlspace brings functionality to your home, providing a place to store outdoor items like toys, lawn care equipment, and more. If your home doesn’t have a crawlspace, lifting your home to build one is a simple way to add storage and value to your home.
A functional, sizeable crawlspace attracts shoppers looking for a new home. Crawlspaces can range from just a foot high too much taller—tall enough to stand up in. In addition, these spaces offer extra storage hidden discreetly under your home: a huge draw for homebuyers.
Finished Basements
Adding a basement provides extra storage and square footage to your home: two appealing qualities homebuyers seek out. Lifting your house to add a basement increases day-to-day practicality for you and your family. But when you’re ready to sell your home, this kind of lift increases its resale value too.
Not only does lifting for a basement add space and storage, but it’s a great return on your investment. Adding and finishing a basement will give you a return of at least 70 percent. That’s higher than the national average of value recouped for home improvement projects.
Raising your home and adding a finished basement gives you usable, comfortable space for guests, entertaining, storage, and more. And best of all, when you’re ready to move, it’s an investment that pays off!
Increased Living Space
Many homeowners choose to lift their home when they want more living space but don’t have the ability to build it out. If your home is on a property with close neighbors, raising your home is ideal for adding square footage.
Many homeowners with older houses choose to lift as the primary method of adding living space. This is because older homes built in close proximity to other houses typically don’t have much room for building out. But building up is a viable option that adds serious resale value.
When you lift your home, especially an older home, you’re able to rewire, redo plumbing, and make modern updates. The process allows you to maintain your older home’s charm while adding amenities and upgrades that increase your home’s value (think insulation and energy-efficient materials). Then, when it’s time to sell your home, you’ll have double the square footage with upgrades that are appealing to anyone looking to buy.
Conclusion
As you can see, lifting your home provides a ton of benefits both now and when you’re selling the space. A house lift adds safety, peace of mind, and functionality that you can’t get with any other home improvement project.
When you’re ready to discuss lifting your home, contact the team at DeVooght House Lifters. They have the experience, knowledge, and equipment to lift your home, benefitting you today and in the future when it’s time to put your house on the market.