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An outdoor living space is not only a great feature to enjoy while you live in your home, it will also attract buyers when you’re ready to sell. A National Association of Realtors survey shows more than half of surveyed buyers would pay a premium for a home with an outdoor living space.
According to a recent article in REALTORMag, these outdoor living spaces go beyond the traditional patio or deck and function more like indoor rooms with more comfortable and durable furnishings, fire pits, curtains, even televisions and audio systems. Screened porches are also increasingly popular since they can be used nearly year-round.
Outdoor kitchens are also big hits, with amenities ranging from a simple grill to a cook’s station with sink, refrigerator, countertops and storage space.
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Go for Real Value
Creating or upgrading your outdoor living space can be a pricey project, and it may not add real value to your home if it’s not done correctly. Here are a few points to keep in mind as you plan your space:
Fit your neighborhood. As with any home renovation, you have to keep your neighborhood in mind. If yours is the only home with high-end features like a pizza oven, outdoor fireplace or professional landscaping, you probably won’t get much return for your investment. Stick with functional items you’ll actually use.
Too much patio or not enough? Don’t make your new space so large that it takes over your yard. On the other hand, a large yard with a tiny patio won’t feel right either. Keep your plans proportional.
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Privacy’s a priority. No matter how nice you make your outdoor space, you’ll never use it if you feel like your neighbors are watching your every move. Your renovation should include a budget for nice fencing for your yard. Bonus? The fencing itself will add value to your home.
Great Advice for Home Buyers or Sellers
As the housing market has picked up steam in the last few months, homeowners are finding that these new spaces grab buyers’ attention. And as we mentioned above, buyers are willing to pay more for a home with a well-done outdoor living area.
If you’d like advice about selling or buying your home, one of Dave’s real estate Endorsed Local Providers can help. Our ELPs are experts in your area, dedicated to helping you save time and money. Find your ELP today!