Backyard Upgrades That Will Boost Your Home’s Value
Are you considering a big upgrade to your backyard? If so, one thing many homeowners like to know is what features may give the best return on investment. This involves weighing the cost versus the value added in conjunction with the value your family will get from the feature while still living in the home. Here are some popular backyard features that can bring both great entertainment and value.
Put In a PoolPools are sometimes seen as a lackluster investment because they can drive off potential buyers concerned about costs or safety. However, a well-maintained pool can actually add quite a bit of value to a home for the right buyer. This can include up to a 25 percent return on the initial investment. Pools are especially great with kids and in warm weather. Just make sure to account for safety. Property owners have a responsibility to create barriers around their pool to prevent children from wandering into it without adult supervision. Pools are a great source of fun and entertainment for the whole family and can help you at the negotiating table if you sell.
Build a DeckDecks have long been a staple of backyards and are a great addition that will let you maximize your usable outdoor space. Decks generally come in either standard wood or composite versions. The latter is more expensive but is longer-lasting and requires less maintenance. A wooden deck can generally recoup up to 90 percent of its value if kept up, while composites can get up to 75 percent. Decks give an excellent means of egress from the home to the yard and can be used for anything from personal relaxation to hosting a party. Just be careful not to go overboard on additions like gazebos, lighting, and sound systems, as these can rapidly increase cost but reduce your returns.
Create an Outdoor KitchenOutdoor kitchens have become increasingly seen as a desirable addition to a home. As with any project, be careful to keep costs controlled to maximize your eventual return. Just as an indoor kitchen often serves as the hub of a home, an outdoor kitchen with grilling platform, refrigerator and prep or counter space can be the hub of your backyard and increase your time spent enjoying the great outdoors.
Homeowners are increasingly looking to utilize their yards and spend more time outside. This has led to an increase in the value provided by outdoor additions, such as decks, kitchens and pools. As long as costs are properly accounted for, these features can add significant value and bring a solid return on the investment in addition to providing your family with plenty of fun in the sun.
If you’re thinking of upgrading your home, contact us for a remodeling estimate!