A trend emerging among
homeowners is to have a “functional room” within their houses or apartments.
These spaces usually serve as laundry rooms, studies or storerooms. Their
presence increases property value by an estimated five to seven percent and
rentals by two to three percent.
The return on investment (ROI) ranges between
six to eight percent per year.
If you are planning to
incorporate a functional room into your home, following are the three factors
you should consider:
1.
Space. The
minimum size of a functional room should be at least 50 square feet and should
ideally have a door that serves as an entry / exit point into the apartment or
house. The easiest thing to do is to convert a spare room into a functional
one. If you do not have a spare room, consider converting a terrace or balcony
into one- if space allows. The option works well for both apartments and
houses. In the case of a house, the area below a staircase can work equally
well if it I spacious enough.
Construction / renovation cost - $ 1500 – 2000.
2.
The basics. Matte tiles in dark colors such as
dark green, steel grey and terracotta are easy to maintain and give a natural
feel to the space. In the case of a laundry room, include a sink and counter
space; the latter can be used as an ironing board or as a workstation in the
case of a study. Shelves are a must-have for functional rooms as they can be
used for a variety of purposes.
Cost –
tiles: $ 150 – 180 per sq ft; sink / wash basin: $ 2000 – 3000
3.
Lighting. In addition to spotlights, consider using
skylights or glass bricks in place of walls to allow natural light. Louvers are
another option, these can be substituted for windows or even be fitted within
doors that serves as entrances.
4.
Cost – spotlights: $ 50 – 80 (each); glass
bricks: $ 20 – 35 per brick; skylights: $ 200 to 250; louvers: $ 150 to 200 per
sq ft.