There are plenty of home renovations you can make that will increase the value of your home, but how many of them do you actually get to enjoy? With an outdoor living area, you not only get a space that allows you to take your indoor activities outdoors and enjoy beautiful landscaping and lifestyle features, but you also can increase the overall value of your home.
According to a survey completed just a couple years ago, requests for outdoor living spaces from homebuyers have continued to increase over the past six years.
At Compass Outdoor Design, our experienced patio contractors are ready to help you design and build a beautiful outdoor living space in Dallas and the surrounding area. With the right additions, you can transform your backyard and add value to your home at the same time! I this blog, our patio contractors share some of the additions that offer better returns for homeowners!
Patios and decks are a highly sought-after amenity for most homes, making them a valuable addition to your home, especially if you plan on selling in the future. The cost of patio installation can sometimes be over $6,000, depending on the size and materials used. With that said, however, experts estimate that patios can recover the costs to build and typically bring homeowners a complete return on investment, and then some.
If you already have a patio, consider refinishing or remodeling the area. While it may seem like just another home improvement project, it can bring a pretty significant ROI.
Backyard barbecues and gatherings will be the talk of the neighborhood when you have more than a grill, but an entire outdoor kitchen. Outdoor kitchens allow you to easily mingle with guests while preparing and cooking meals, completely eliminating the need to run back and forth inside for a sink, refrigerator, or utensils. Whether it is an extension of your patio space or a stand-alone space, outdoor kitchens are virtually guaranteed to help you enjoy more outdoor living time. It is estimated that homeowners with kitchens in their outdoor living areas will break even on the investment when selling their homes. Make sure to incorporate counter space, major appliances, and a dining area to create the ultimate outdoor kitchen.
Adding an outdoor fireplace or fire pit is an easy way to add value to your home, particularly if you choose to go with one that is gas-operated. Adding a fire element into your outdoor living area provides an elegant focal point that visually transforms the space, creating a warm, comforting, and relaxing atmosphere. Outdoor fireplaces not only bring year-round enjoyment of your patio, but it is also a feature that will wow prospective buyers when you choose to put your home on the market. It is estimated that homeowners who opt for outdoor fireplace installation recoup almost 80 percent of the associated costs.
PERGOLA OR COVERED PATIO
Adding a covering to your backyard space with a pergola or an extended roof can certainly boost the resale value of your home. Both a pergola and covered patio bring various benefits to your backyard. Not only do they add shade to your outdoor space, but they also provide protection from the elements, making your outdoor living space more usable year-round. While it may not be the most dramatic addition, for the right potential buyer, it could be just the thing to take your home from great to sold. Plus, you’ll enjoy the shade and benefits it will provide until that time comes.
Swimming pool installation can be a great addition to your outdoor living space! However, they can be fairly expensive. In addition to the $20,000+ it will cost to install, swimming pools are going to require regular maintenance throughout the year. When it comes to return on investments, swimming pools may not be as valuable as some of the options listed above. While some potential buyers look for homes with swimming pools, others will cross homes with pools off their lists when they learn about the associated costs. To get the best ROI from a swimming pool, consider adding lighting and other decorative features and always keep up with maintenance and repairs to better ensure future potential buyers don’t back out because of minor problems.
These are just a few of the many additions to your outdoor living area that can increase the value of your home. Keep in mind, there are other factors that come into play with the return on investment you receive from an outdoor living space. One of the biggest factors is where you live. Luckily, homeowners in Texas can see better value since outdoor living spaces can for the most part be enjoyed year-round in the southern regions. Also, it is important to take the current value of your home, as it will help you get an idea of how much potential there is for value. Lastly, don’t forget about your HOA and city ordinances. Depending on your neighborhood or suburb, you may not be able to build certain structures or add specific features to your home without permits and explicit permissions.
Add Value To Your Home With A Dallas Outdoor Living Area
Outdoor living spaces certainly add some value to your home, plus you will get to enjoy it until the time comes that you are ready to sell. If you want an outdoor living space in Dallas, contact the team at Compass Outdoor Design! We can help you design and build an outdoor living area that will increase your enjoyment of the outdoors all while adding to the overall value of your home.