Not every homeowner has the luxury of a massive home. That means renovations have to be carefully considered before moving forward, and extra attention should be given to turning little spaces into big selling points.

However, there is good news. Many buyers in today's market are interested in functionality and economy, not just square footage. Current residents can do a lot for their home equity with some simple, space-saving home improvements.

When owners make any changes to their property, a home inspection is a valuable asset. Those who skip this step risk missing potential problems or could end up paying more money on repairs down the road.

Capitalize on small trends

Not everything in a home needs to be large. Homeowners who are faced with less room to work may appear to be at a disadvantage, but there are still great improvements that they can do.

Those who make smart decisions when it comes to renovations could have a better chance when selling, and should enjoy their time living there more. In today's economy, less home might be a selling point. Before listing a home, a property inspection professional can help owners figure out what needs to be fixed up.

Saving money is now a priority for many people, according to Main Street. Finding creative ways to maximize space is a fantastic way to boost home equity.

"People are really interested in downsizing and living within their income with smaller or no mortgages," Kent Griswold, creator of the Tiny House Blog, told the news source. "They want less space to keep up and maintain, and they want to get rid of all of the stuff in their lives."

Instead of multiple rooms, some people's priorities are shifting, the news source noted. One California homeowner decided to downsize, and her goal was to find a living space that had plenty of room for cooking, but that was about it.

Homeowners may want to focus on space saving renovations for their own houses. A property inspection can point out any potential hazards that need attention, as well. There are several creative solutions for getting the most out of a small home.

Create more square footage

In some cases, homeowners have more space to work than they think. For example, an unfinished attic could become an additional room, boosting home equity. Before starting this project, however, a property inspection should be completed to make sure there aren't an issues.

The first place to start with an attic remodel is the building code, according to This Old House. The floor may need to be strengthened, and there should be more insulated added. If the attic is sound, this type of renovation could be a great idea for many.

In addition, a full-sized staircase is a must, as are multiple exits. That means the attic needs either a window that can serve as a fire escape, or two fully-functional staircases. The ceiling height also needs to be a minimum of seven feet high. A home inspection professional can help owners determine if a space is ready for renovation.

Moreover, there are some quality design ideas for an attic remodel, the DIY Network noted. For starters, homeowners could put in skylights for additional windows. These additions can add warmth and charm as well. An attic space might also become a great nursery for a young family. Small children aren't bothered by lower ceiling, and an attic as a bedroom is a unique private space for teenagers.

Overall, homeowners can do a lot with a small home. Less rooms and square footage doesn't mean that the property won't sell, and creative renovations are a great way to maximize the potential of the space.