Outdoor Improvements That Boost Home Value

Whether home improvement projects are design to improve the interior or exterior of a house, focusing on renovations that make the most financial sense can benefit homeowners in the long run. The right renovations can be assets if and when homeowners decide to sell their homes.

So how does one get started? First and foremost, speak to a local real estate agent who is knowledgeable about trends in the community. While a swimming pool may be something coveted in one area, it may impede sales in another. It also helps to study generalized trends and data from various home improvement industry analysts to guide upcoming projects.

The following outdoor projects are just a few renovations that tend to add value.

• Fire pit: A fire pit is a great place to gather most months of the year. Bob Vila and CBS news report that a fire pit realizes a 78 percent return on investment, or ROI.

• Outdoor kitchen: Many buyers are looking to utilize their yards as an extension of interior living areas. Cooking, dining and even watching TV outdoors is increasingly popular. Outdoor living areas can be custom designed and built. In addition, prefabricated modular units that require a much smaller commitment of time and money are available.

• Patio: Homeowners who do not already have a patio will find that adding one can increase a home’s value. Patios help a home look neat, add useable space and may help a home to sell quickly. The experts at Space Wise, a division of Extra Space Storage, say that refinishing, repairing and building a new patio offers strong ROI.

• Deck: Deck can be as valuable as patios. A deck is another outdoor space that can be used for entertaining, dining and more. Remodeling magazine’s 2018 “Cost vs. Value” report indicates that an $11,000 deck can add about $9,000 in resale value to the home, recouping around 82 percent of the project’s costs.

• Door update: Improve curb appeal with a new, high-end front door and garage doors. If that’s too expensive, a good cleaning and new coat of paint can make an old door look brand new. These easy fixes can improve a home’s look instantly.

• New landscaping: The National Association of Realtors says an outdoor makeover that includes well-thought out landscaping can net 105 percent ROI. Installing a walkway, adding stone planters, mulching, and planting shrubs are ideas to consider.

Many different outdoor projects can add value to a home.

Expand living spaces with clever ideas

Homeowners looking to add more space to their homes do not necessarily need to make major renovations. They simply have to see the possibilities in outdoor living spaces.

Outdoor living spaces are coveted niches in a home. The American Home Furnishings Alliance says more than 70 percent of American households have outdoor living spaces, and nearly 70 percent of people use these spaces at least once per week in-season. Furthermore, homeowners are increasingly interested in enhancing these spaces to make them more usable and comfortable.

A recent survey from the online home design and remodeling resource Houzz found that more than 4,500 users were planning a landscape update. In addition, 56 percent of homeowners surveyed were making updates to improve their yards for entertaining.

While the creation of outdoor living spaces can cost thousands of dollars depending on the renovation, homeowners have more budget-friendly options at their disposal as well. The following are some ways to create inviting spaces no matter how much square-footage is present.

Revamp a garage or shed

Rather than turning a storage area into a catch-all for items time forgot, clean out the space and put it to better use. For instance, kids may appreciate their own clubhouse away from the main living area. These spaces also can be handy bonus rooms for when Mother Nature doesn’t cooperate and backyard guests need to seek shelter. Wall art, curtains, a pendant light, and some comfortable outdoor-compatible furniture can quickly transform a space.

Create a relaxing nook

Whether there’s a ledge, overhang, small terrace, or porch off the house, turn it into a relaxing area for reading a book or sipping a beverage. Use a few outdoor pillows, pull up a small folding table and dress the area with hanging lights and potted plants for a quiet retreat.

Add privacy to a porch

If it’s privacy you covet, install curtain rods and hang lightweight mesh or another translucent material that obscures neighbors’ views without blocking out natural light. Invest in outdoor sofas and chaises to create an outdoor living room right on the porch. If your budget allows, consider closing in the porch as a true three-season room so it can be used throughout fall, spring and summer.

Outdoor living spaces are booming and highly achievable, and many such spaces need not be expensive.