Many outdoor home improvement projects enhance a home with comfort, convenience and style. Some go a step farther and actually raise the market value of your home. If you?re going to invest time and money in an outdoor upgrade to your home, why not choose projects that will increase your home?s resale value, enabling you to recoup much of your investment?
Are Patios a Must-Have Addition?
According to the U.S. Census Bureau, around 45 percent of new American homes come with backyard patios. In a survey conducted among potential home buyers by the National Association of Home Builders (NAHB), however, 75 percent of home buyers said that they might not consider buying a home without a backyard patio. That means that if you?re planning on selling your home in the future, not having a patio might be a deal-breaker.
Are Deck Additions Worthwhile?
The demand for outdoor decks among prospective home buyers is also extremely high. NAHB?s home buyer survey found that 82 percent stated that they want or must have a deck. Decks offer a high return on your investment as well. You can expect to recoup around 70 percent of the deck?s installation cost when it comes to sell your home, according to a leading remodeling publication. The ROI is even higher in regions with sunny climates, where decks are often regarded as a standard amenity. In the West, you can expect to recover around 80 percent of the investment.
Will an Outdoor Kitchen Raise the Value of Your Home?
Increasing a home?s outdoor living spaces can add thousands of dollars to a home?s market value. If considering an outdoor kitchen for home, be sure to include amenities like a refrigerator and sink that will qualify the space as a second kitchen. When undertaking upgrades like outdoor kitchens, it?s important not to scrimp on quality. Home buyers who see an outdoor kitchen as an asset will expect quality construction, materials and appliances.
Keeping up with the Joneses can pay off when it comes time to sell your home. Remember that potential home buyers will be comparing your home to other homes in the community. What upgrades do other homes in your neighborhood have?
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