These 9 Home Additions Could Add Serious Value to Your Property, According to Experts

Cost Estimate: $6,000 to $30,000+

Best for: Budget-conscious homeowners

If you have a garage that you rarely use for parking, consider converting it into a space that suits your needs. Garages are popularly turned into home gyms, game rooms, or workshops, but if you properly insulate the space and get the correct permits for it, you could even convert it into an in-law suite. The best thing about a garage conversion is that it doesn't change the layout of your home, so costs can be kept fairly low. Plus, the renovation doesn't need to completely disrupt your day-to-day life, since it'll be contained to the garage.

Cost Estimate: $30,000 to $50,000+

Best for: Homeowners with small lots

Depending on the layout of your home, adding a room over your garage is one way to increase space without adding to your home's overall footprint. This room can be used as a guest suite, home office, or potentially even a rental unit, if your local code allows. Just keep in mind that you'll want to add good insulation all around—garages aren't typically well insulated, which means that over-garage rooms can be difficult to heat or cool.

Cost Estimate: $15,000 to $75,000+

Best for: Homeowners looking to increase property value

If you already have a basement, but it's not finished, remodeling the space to become livable is one way to significantly boost your home's value—and you can often do it on a budget, too. Turn an underutilized space into a functional area, such as a playroom, home theater, or home office, by adding flooring, drywall, and a drop ceiling. To add a bedroom in the basement, you'll need to make sure there's an exterior door or an egress window in the space.

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Cost Estimate: $7,500 to $35,000+

Best for: Growing families on a budget

Don't have the budget for a full second-story addition? Don't worry, you might have another option. Depending on the style of attic your home already has, you might be able to convert that unused space into something much more practical, like an extra bedroom, a home office, or the walk-in closet of your dreams. What's realistically possible all comes down to what your attic space is like, so call up a contractor for an inspection to find out your options.

Cost Estimate: $60,000 to $300,000+

Best for: Those with lots of guests, whether long-term or short-term

An accessory dwelling unit (ADU) is a self-contained living space that's distinct from the primary house on your lot. It can be built as a separate structure, such as a guest house, or as an addition to your existing home, like an in-law suite. The real key here is that ADUs are self-contained, which means they have a kitchen and bathroom, in addition to a living/sleeping space. Many homeowners use ADUs for rentals or long-term guests, like elderly parents.

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Cost Estimate: $50,000 to $500,000+

Best for: Those committed to staying put in their home

A conventional addition typically involves significantly increasing your home's footprint by adding multiple rooms or even entire wings. This type of addition can include new bedrooms, bathrooms, and living spaces, and they can be seamlessly connected to the main house or kept separate as an in-law suite. To build a conventional addition, you'll need lots of room on your lot—and a hefty budget. A major cost of this type of addition is the foundation, so the more square feet you add, the more you'll be spending on your foundation.

Cost Estimate: $150,000 to $300,000+

Best for: Growing families

For homes with limited lot space, a second-story addition can double your living area—but it'll cost you. This major renovation requires structural reinforcement, and that's often very expensive. That said, all the extra space might be worth it for a growing family that needs an additional bedroom or two with room for an extra bath left over. To save some money, you can also consider just adding a single room on the second floor rather than multiple, depending on your home's layout.