If you don’t love the way that your outdoor space looks or functions, it’s a great idea to reimagine it. Of course, then you start to wonder how much it will cost. And if you’ve read anything about getting a good return on investment, you know that every project isn’t the same as far as increasing your home value. The good news is that there are lots of options to make outdoor living comfortable and more fun, while providing a respectable ROI. Here’s what you need to know.
What Adds Value to a Home Outside?
When considering backyard remodeling, it’s important to pay attention to the return on investment. An increase in resale value is how you measure ROI for home improvements. ROI is typically listed as a percentage of the average cost. Remember that ROI isn’t guaranteed, and it depends on a lot of factors that relate to your unique home. If you’re looking to upgrade something old, damaged or unsightly, you’ll benefit from simply improving the appearance. Here are six projects that can help add value to your home.
A patio is a great way to increase outdoor living space, even on a budget. Patios vary in size and materials, from a simple poured concrete base or concrete pavers to a rustic natural stone. For patio remodel options in the $7,500 range, you might get 70 to 80 percent in ROI. Remember that size matters. If you don’t leave enough room for green space, you may not get the same ROI.
Need more ideas? Check out our 10 best luxury patio designs.
Decks are consistently one of the best ways to add value to your home in Greenville, DE. Decks tend to last longer than a patio and can be very easy to maintain, although you’ll pay more for the convenience. For the investment, you can expect about 80 percent ROI.
If you’re not sure what else to do with your home, you should consider updating the landscaping. Unlike other projects, landscaping is something that you have to maintain almost constantly. Otherwise, it could take over and cause damage to your home, as well as looking strange and overgrown. For a moderate overhaul of your landscaping, you may get up to 90 percent ROI. To learn more, check out our landscaping services.
Lighting is often underappreciated among outdoor renovations, but you should keep it in mind. ROI is about 50 percent for most common designs, and it’s a good project to consider along with other outdoor upgrades. Lighting makes it easier to see, which allows room for safe enjoyment and entertaining at night.
5. Outdoor Kitchen
Adding an outdoor kitchen as part of your patio renovation could be an excellent way to make your outdoor living space more enjoyable. How much does an outdoor kitchen cost? This project is a bit more expensive, coming in about $15,000 to $20,000 or more. For that amount, you can expect to earn 60 to 70 percent in ROI.
6. Fire Pits
If you want to maximize your use of an outdoor living space in spring and fall, fire features are a wonderful contribution. Although you can buy options that you can set up in less than an hour, you’ll get the best ROI from designs that include a built-in gas line and a consistent fuel supply. For an investment of $5,000 or more, anticipate 60 to 70 percent as a return.
Does an Outdoor Patio Increase Home Value?
An outdoor patio increases home value by 50 to 80 percent, depending on the size and the condition of your yard at present. One of the best times to add a patio is 5 to 10 years before you plan to move, so that you get years of enjoyment out of it first.
Thinking about adding a patio? Download our free eBook.
How Much Does a Covered Patio Increase Home Value?
A covered patio is a more expensive project than a standard patio addition, so the ROI tends to be lower. For $10,000 to $20,000 or more, you can expect to get about 50 percent return on your investment. A covered patio is great for three-season outdoor living, and you’ll pay more to get extra protection for winter. If you need more space that connects to your home’s HVAC system, a garden room or conservatory might be a better solution.
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Does Backyard Landscaping Increase Property Value?
Backyard landscaping can have a notable impact on your property value, even if it isn’t on the same level as the landscaping visible from the curb. You can likely expect at least 50 to 75 percent ROI, especially if you’re giving it a more modern appearance in the process. At First Class Lawn Care, we aim to provide you with all the services you need to get your outdoor space into a great design and keep it that way. To learn more about our business or get a free quote, contact us today.