With summer quickly approaching, you may be thinking about sprucing up some of the outdoor features of your home. Outdoor renovations can be a great way to add value to your home- not to mention increase family time outside and create new spaces for hanging out and interacting with family and friends. Knowing which renovations will give you the highest return on investment can be a great start when you are deciding which outdoor renovations to make. Take a look at these 5 tips and outdoor renovations with the highest value:
Adding an outdoor kitchen sees an average return on investment of 150% according to inman.com. This varies though based on the climate of where you live. To increase the value, using more durable materials that can sustain tough weather can help you get the most out of your investment. Outdoor kitchens are great for family dinners, hosting barbeques or just relaxing on warm summer nights. Fire pits are also popular with homeowners these days, and can give you as much as a 150% ROI. Plus, a portable fire pit is less expensive, and will give you a greater ROI.
Adding a professional deck to your home will give you a 73% ROI according to Sundaybell.com, and it could be more depending on how high quality your deck is. It will also provide you with you space to host guests and can add some extra space to your home. Decks can also be relatively inexpensive compared to other home renovations, averaging at just $20 to 35 per square foot. Plus, they don’t take long to build and the entire project could take less than a month to complete.
Adding to your home’s landscape can add as much as 28% to the value of the home, and reduce the time your home spends on the market by 10-15%. It’s a great way to make a great first impression to guests and neighbors and not to mention you’ll get to enjoy some of the perks too! Plus, you can save some money on your heating and air conditioning bill depending on what you plant. Planting windbreaks and shade tress can cut heating needs by 15% and air conditioning needs by as much as 75% according to Williams Ski and Patio.
Be careful of pools
Although they may seem like a lot of fun, many buyers will be turned off by pools and will see them as a hassle, so keep that in mind when considering adding a pool. For as expensive as they are, they only increase your homes value by 7%. Simply put, if you are looking for outdoor renovations to increase your homes value, you can get more bang for your buck by pursuing renovations and additions other than a pool.
Cost Effective Renovations
If you don’t have a huge budget to devote to outdoor home renovations, there are still many little tweaks that you can make that can add value to your home. Consider adding a pot of flowers during the winter months by your homes entrance or pressure wash your backyard furniture to make it look clean and give it a fresh pop. You can also make your drive way look nicer by ensuring that any damaged is repaired with a top coat of sealant.