Maximize Your Property’s Market Value
with Renovations and Additions
Are you a long-time homeowner or investor in DC or the close-in Maryland suburbs? If so, your property probably has locked-up equity that has grown over the years. According to The Washington Post, values of properties inside the Beltway have increased 35-90 percent since 2004, far outpacing national averages.
Investing this equity in renovations, additions and upgrades can transform your property AND increase your equity base even further. Overall, renovation projects in the DC area offer a compelling return on investment, because the value of updated properties can range from $300 to over $1,000 per square foot. Because of this, many projects have the potential to add 50% – or more – to a property’s value, more than paying for themselves. We can help you understand how much value your remodeling or addition project can create.
Use your unlocked equity to solve many kinds of problems. For example, you can use it if:
- Your family has grown larger but your home has not
- Your home’s finishes are outdated or ugly
- You have put off expensive maintenance projects that need to be addressed now
- You want to set up your property to create rental income
- You need to update your home to sell for top dollar
- You’re ready to cash out, but you want to maximize your returns by converting it to a multi-unit property first
There Are Many Ways to Unlock the Equity in Your Property
New City is a design-build firm that offers turnkey renovation projects. From initial design, through planning and construction, New City’s deep knowledge and detailed process will help you realize your ideal project. We offer a range of value-adding projects which include:
Home Addition: Increase your home’s space with an addition. Add a master suite, new kitchen, living room, or whole new level. New City provides a range of options including rear, side, pop-up, back and front additions.
Interior Remodel: Transform the look of your home. Finally get that magazine-worthy kitchen or bathroom, or take on a complete remodel so your whole home looks brand new. New City can help you achieve your remodeling vision.
Total Renovation: Reorganizing your floorplan for flow can enhance and accentuate your space. Bring down walls, open up the layout, or combine rooms to create a master suite -- we can help you re-envision your floorplan to get more from your home.
Conversion into Multi-Family: Most DC rowhouses can be transformed into multi-family properties by right. In some zones, there is even the opportunity to create more than two units. Property owners can live in one unit, while renting or selling the others.
Accessory Apartment: Accessory apartments are self-contained living spaces within a single-family home, often in a basement, or sometimes in a detached space, like a garage. These units add value to the home and can serve as a source of income.
Pre-Sale Renovation: Renovating a home prior to sale can increase market value and reduce time-on-market. We can help you choose remodel options that increase the home’s value and pay back your investment.
New City: Why Choose Us for Your Home Renovation?
Remodeling can be intimidating. That’s especially true in the Washington, DC area, where ever-changing zoning requirements, complex permitting, uncooperative utility companies, hostile neighbors and other unique building challenges can run a project off course. For project success, you need a partner who has been through it all many times before.
New City brings a deep knowledge of local building requirements to every project. Plus, we offer guidance through the entire project lifecycle -- from initial design to project planning and through construction. Our detailed process helps smooth your remodeling experience.
The project design should reflect your vision. That’s why we start with your needs, budget and desires. We talk about your style and look at photos until we understand you. We walk you through options, and go from there. The result is a design you love and can’t wait to bring to life.
A smooth building process requires in-depth planning. Before we ever pick up a hammer, we build your project on paper, working to capture all the details in advance. Before we start construction, we make sure the whole team is clear on exactly what is being built – how and when.
During construction, we make sure you stay informed. New City manages the entire process and keeps you up-to-date with online project management tools, weekly email updates and milestone-based site meetings. Sit back and watch your vision come to life while we handle all the details.
New City can help you work through other aspects of the project as well.
- Compliance Considerations: Some remodeling and addition projects require zoning conversions. For example, a single-family building expanded to 2 living units requires a zoning conversion. New City guides projects through the many compliance loopholes, ensuring that the project can be used as expected at the end of construction.
- Project Financing: Securing financing for a renovation project can sometimes be a challenge. We can share deep knowledge about home equity loans, construction loans, 203K loans and other kinds of renovation financing. If you need it, we will help you weigh all your options and find a source of capital that meets your needs. Learn More.
Now is the Time to Unlock the Value in Your DC-Area Property
If you’ve owned property in Washington, DC or close-in Montgomery County for a while, chances are your home’s value has risen dramatically. Now is the time to invest this newfound equity and unlock the value of your home.