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Using Outdoor Living Spaces to Increase Home Value

Outdoor Living Space

When you’re looking for ways to increase the value of your home, most folks tend to focus on the inside with things like a new bathroom or kitchen remodel. While these do improve the value of your home, the upfront expense and interruption to daily life can be overwhelming.

Any easier and much less invasive way to improve your home’s value is to focus on creating an outdoor living space. Below you’ll find some 3 additions to an outdoor living space that provide a better return for homeowners.

Patio
A new patio or even a refinishing or repairing an existing patio can increase your ROI by 100-500%.

Potential buyers consider a patio as a bonus living area that will not be taxed heavily, doesn’t need to be heated or cooled and is easy to manage all year long with all of its associated benefits. Having a patio means your living space transcends the walls of your home. On a nice day, an outdoor sitting area is steps from your door. You can invest in some practical patio furniture or set up lounge chairs and take a break from your busy schedule without going too far.

Outdoor Kitchen
An outdoor kitchen can potentially see an ROI ranging between 100% and 200%.

Depending on how much you want the space to reflect an indoor cooking space, and your budget, you could gain quite a bit with an outdoor kitchen. The basic components of a good outdoor kitchen are cooking area, counter space, storage areas for utensils, glasses, and plates (as well as a place to wash them), and a seating area to enjoy your freshly cooked food. These components can be as basic or elaborate as you like, but as long as they are built to stand up to the elements, you’re good to go.

Fire Pit
Most estimates see homeowners recouping 78% of the costs associated with building a fire pit, especially one that has natural gas running to it.

Purchasing a fire pit for your home is a smart investment that will pay off in more ways than just one. It can turn an otherwise dull and generic patio into a functional and entertaining outdoor living area, allowing you and your family to enjoy this extension of your home.

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