Outdoor improvements have been shown to increase the value and popularity of a home on the open market. Even if you aren’t looking to sell anytime soon, adding to your home value while building a modern backyard you love is a win-win.
In a recent University of Michigan study, landscape updates were shown to boost property values up to 11 percent more than the same home without good landscaping.
Building An Outdoor Dining Area
ESTIMATED RETURN: 71%
An outdoor kitchen and dining area is a relatively expensive backyard project. However, its estimated ROI could be of great value to your home. If you’re in an area where eating outside is easily accessible and you love to dine al fresco, you’ll love having an outdoor kitchen. But don’t let colder climates hold you back — add a fire pit!
Installing A Fire Pit
ESTIMATED RETURN: 67%
Putting in a gas fire pit and patio area isn’t too expensive and is well worth the upfront costs. Fire pits are synonymous with summer nights.
Everyone loves spending time with friends and family out by the fire, watching the stars, and listening to the crickets chirp. This backyard upgrade is great for you in the present, as well as when you decide to sell.
Putting In A Patio
ESTIMATED RETURN: 67%
Patios are similar to decks both in function and return on investment. While patios are usually less expensive than a deck, a deck gets a higher return.
Comments