Improving the outside of your home can not only increase the amount of living and leisure space, but it can also increase your home’s value on the market in the long run. First, however, you want to be sure that what you’re investing in will be attractive to both you and your prospective buyers down the road. Below are some valuable and worthwhile outdoor projects that will transform your home.
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Add a Deck
Adding a deck to your home is one of the most dynamic ways to enhance your outdoor space. Decks can serve as a great spot for grilling, relaxing, or hosting an outdoor gathering for family and friends.
According to Remodeling Magazine’s Cost Vs. Value Report, a homeowner can expect to recoup about 65% of the cost of building a new composite deck when the time comes to sell your home. Compare that to a bathroom addition where you recoup about 57% of the investment. Likewise, with a kitchen renovation, the return on investment can be in the low 60’s range.
If you’re considering adding a deck to the second story of your home, you’ll also have extra space underneath to utilize! Trex also has a guide on some great under-deck patio ideas.
Add an Outdoor Fire Pit
In that same vein, there’s no better way to maximize your time outside than by constructing a fire pit in the backyard. Roasting marshmallows or just relaxing outside on those cool nights is best done around a roaring flame.
The National Association of Realtors®’ (NAR) and National Association of Landscape Professionals (NALP) reported that homeowners could expect to recoup around 67 percent of the installation costs for fire features with a gas burner and surrounding patio area. And if you haven’t the space for a permanent install, even a fire pit that can be stored away and brought back out for property showings can be a huge help.
Add an Outdoor Kitchen
Outdoor kitchens have recently risen in popularity and can be a very attractive feature on the market for certain homebuyers. The NAR and NALP also wrote that an outdoor kitchen project would cost roughly $14,000, but you can expect to recoup at least $10,000 of that. They also said that to ensure the best ROI, keep your project simple: stainless steel drawers, an icebox, a sink, and 60 square feet of counter space are adequate.
It’s also important that the kitchen is used for most of the year. That includes constructing a roof or cover that keeps it safe from weather and rain, a ceiling fan or a natural ventilation design that’ll keep the space cool in hot weather, and a source of heat like a fire pit for cold nights.
Touch Up on Landscaping
The front yard is the first thing prospective homebuyers will notice when they arrive at your house for a viewing, and it likely influences their first impressions of your property. Hire a lawn service company to mow and fertilize your yard to increase your chances of a sale. You can also fix many holes with new sod; however, you might want to consider a lawn replacement if the problem is severe.
Plant Trees
Adding more foliage to your backyard by planting and maintaining healthy trees can make your home more attractive, both physically and on the market. The NAR and NALP joint report ranks tree care in the top five of projects’ appeal to buyers. If placed properly, some shade trees can also help reduce your energy costs each year by a few hundred dollars!
Be sure to double-check with your homeowners’ association or architectural committee to find out if there are restrictions on the height of trees. In addition, you can find tree benefit calculators online that can help you estimate the value they may provide you based on zip code.
Plant a Garden
Not only will adding plants to your backyard beautify your outdoor space, but it will make the space even more attractive for buyers. Plus, you can benefit by having fresh fruits and vegetables right in your own backyard! A well-tended garden is both a valuable asset for a home on the market and for daily life in cooking and eating!
Put in a Pool
With people spending more time at home due to the pandemic, attitudes on-at-home pools have shifted as of recent towards favoritism. As a result, what was once a questionable addition to the home in terms of viability on the market is now a surefire way to make your home stand out.
And while it isn’t guaranteed that you will be able to recoup your entire investment when it comes time to sell, swimming pools have proven to be a major selling point, especially when competing with other homes for sale that have pools. You can also enhance this addition by constructing an outdoor shower attached to the outside of your home!