Convert the Extra RoomsNow that you have all these extra rooms, consider the other uses you can have for the extra space. Maybe you can finally have that home gym, craft room, home office, library or man cave that you’ve always been dreaming of – the possibilities are endless now that space isn’t a problem! Invest in some new furniture and equipment, and you can have the luxury of a room that you can call your own.
Renovate Your HomeYou might not know what to do with these rooms, but you could sure use the space. If possible, you can hire a contractor to renovate your house by tearing down part of the walls separating the extra rooms. For example, if there’s an empty bedroom adjacent to the master bedroom, you can have the rooms renovated to have a larger bedroom complete with a private bathroom and walk-in closet. You can also expand your living room or get rid of the bedrooms on the ground floor to create a more open floor plan.
Rent Out Your Additional RoomIf your home is near universities, colleges, or business districts, you might be able to rent out your free rooms to those looking for accommodations in your area. It’s not the best option if you’re not comfortable with living with a stranger, but if you like the idea of using your extra space for income, this may be a good solution. Some homeowners who choose this option for their homes usually have two options. The first one is to leave their homes as-is, rent out their extra rooms to others, and then treat places like the living room and kitchen as common areas. If you want some more privacy, you could work with an architect and contractor to renovate your home so that your tenants have their own private entrance and common areas. Keep in mind that while you can benefit from the additional income, you’ll have to take on the responsibilities of a landlord.
Downsize and Sell Your HomeThere are plenty of things to do with all that extra space, but keep in mind that there are added costs and chores. Dealing with a home that’s bigger than you need means dealing with higher property taxes, higher heating costs, and having to regularly clean and maintain a home that’s way too big for your household. If you want to avoid these additional costs, the most practical solution is to downsize by selling your home and moving somewhere smaller. By downsizing, you can avoid the additional costs of living in a home that’s bigger than you need. On top of the costs, the benefits of downsizing also allow you to declutter to be more space saving while also finding a home that’s comfortable enough for your household. Depending on the value of your home and your equity, you may be able to upgrade your lifestyle by moving to a smaller home in a better area that matches your needs and wants.
Need to Learn More?
Want to downsize ASAP? Then sell your house in Denver, Colorado fast with Blue Halo Homes. We are a cash home buyer in Denver that can provide you with a fair cash offer for your home within a short turnaround time. Rather than listing your home on the real estate market, waiting for a good offer, and filtering out lowball offers and deals that don’t push through, our team can provide you with an offer that’s fair for your home’s state and property value. From there, we can negotiate a quick sale that can have you moving onto your downsized lifestyle in no time.
Get in touch with us today to learn more about our home buying process.