Adding a major upgrade to your property can either make or break your ROI when you finally decide to sell it. Some upgrades almost always increase ROI and the appeal of your home to the majority of homebuyers, but some can make your home property harder to sell—and even cause a downturn in your profits.
A conservatory is one of the upgrades that lie between the gray area. If you are thinking of adding a greenhouse, a sunroom, or any other type of conservatory to your home, here are some factors you must consider first.
Glass conservatories are considered major upgrades to a home, not only because they add a significant amount of floor space but also because of the costs. That said, you must be prepared to make a significant financial investment if you want to add a conservatory to your home, just like when making any other major renovation.
There are many ways you can finance this project without paying the entire cost out-of-pocket. First, you can open up a home equity line of credit (HELOC) if you have built enough equity on your home. You can also take out a home remodel loan offered by banks or credit unions. Furthermore, you can also refinance your mortgage and use the balance to pay for the cost of the conservatory.
Contrary to popular belief, building a conservatory would still make sense even if you live in a cold climate area. The main purpose of the conservatory is to have an indoor space that receives a lot of sunlight during the day. In a cold climate area with few sunny days, a conservatory can make for a great lifestyle upgrade as well as a good ROI when you decide to sell in the future.
Furthermore, homebuyers in cold climate areas might be looking for homes that can allow them to enjoy the outdoors without actually being outside. That said, they might be willing to pay more for a home with a conservatory, allowing you to list your property at a good price.
On the other hand, if you live in a hot climate area or somewhere in between, a sunroom or a greenhouse almost always provides good ROI as long as it makes financial and spatial sense based on your property and location.
The size of your property
If you’re already thinking of building a conservatory on your property, you likely already have enough space to build it. But will a conservatory take up too much of your property and leave little space left for outdoor use? Homebuyers might be drawn to the appeal of a conservatory, but that can be outweighed by their need for a large enough backyard.
That said, take into account the amount of available space that you have and the space that will be left over if you build the conservatory. If your property is large enough to accommodate the structure without eating up too much space, then that’s another sign a conservatory can provide a good ROI for you.
There are several purposes that a conservatory can serve, and it helps to know what you intend to use the space for. If you want to extend your living space, you can design the conservatory to be a living area or sunroom. If you want to have an office space but have no spare room in the house, a conservatory can make for a bright office conducive to productivity. Or, if you are a green thumb and want to have your own indoor garden, a conservatory can be designed into a greenhouse with the perfect environment that can help you grow your plants at any time of the year.
Knowing why you want a conservatory in the first place can help you narrow down your choices when looking for conservatory builders. More than that, it can help your chosen contractor or architect design the structure exactly for your intended purpose.
The position of your conservatory will affect its indoor temperature throughout the day. For north-facing structures, winter months can get too cold, which entails an indoor heating system. South-facing structures, on the other hand, might get too hot during the day, which calls for air conditioning and a good insulation system.
Building a conservatory on your property can increase your ROI and the appeal of your home to future investors or homebuyers. More importantly, it can upgrade your lifestyle and provide a great addition to your family’s living space. Nevertheless, it’s best to consider these factors first before making such a major home upgrade.