Expanding Your Outdoor Living Area: The Increase in Home Value

Homeowners are always looking for ways to upgrade their homes and increase their resale value. One way to do so that’s often overlooked is through expanding your outdoor living area. In this article, we’ll highlight the benefits of creating a welcoming outdoor space and showcase the return on investment.

According to a report by the National Association of Realtors, outdoor living spaces add tremendous value to homes. In fact, an outdoor living area can provide up to a 12% return on investment. Outdoor living areas such as patios, decks, and outdoor kitchens are great ways to expand your living space while improving the overall quality of life.

Real estate expert, Michael Kelczewski, explains why outdoor living areas are so important, “Outdoor living areas bring the inside out, and they can be used all year round. They create more living space and a better quality of life. People appreciate having a place to relax, entertain, and spend time with family and friends.”

Investing in An Outdoor Living Area:

not only increases the value of a home, but it also creates an opportunity for entertainment and relaxation. Imagine enjoying a summer evening with friends gathered around a fire pit or grilling dinner on a brand-new outdoor kitchen. These are experiences that homeowners and their guests will enjoy for years to come.

One of the most popular outdoor living upgrades is adding a patio. The cost of building a patio can range from $2,000 to $5,300 depending on size and materials used. However, the return on investment can be significant. According to a report by the National Association of Home Builders, homeowners can expect to recoup nearly 70% of the cost of a new patio in resale value.

Landscape architect, Susan Cohan, explains why patios are so valuable, “Patios define outdoor living spaces and create a sense of privacy. They also create a transition between the home and the garden. Patios are a great way to extend your living space, and they can be used for dining, entertaining, or just relaxing.”

Another popular outdoor living upgrade is adding a deck. The cost of building a deck can range from $4,000 to $10,000 depending on size and materials used. Studies have shown that homeowners can expect to recoup nearly 75% of the cost of a new deck in resale value.

Home improvement professional, Bob Vila, explains why decks are so valuable, “Decks provide a place to relax, entertain, and enjoy the outdoors. They also increase the living space of a home and create a natural transition from indoors to outdoors. Decks are a great investment for any homeowner.”

Outdoor kitchens are another popular outdoor living upgrade. The cost of building an outdoor kitchen can range from $5,000 to $15,000 depending on size and materials used. According to a report by Realtor Magazine, outdoor kitchens can provide up to a 130% return on investment.

Homeowner, Jennifer Smith, shared her experience with adding an outdoor kitchen, “Our outdoor kitchen has been a game-changer for us. We love to entertain, and our outdoor kitchen allows us to do so easily. It’s also been a great investment for us. We’ve seen an increase in the value of our home since adding it.”

As you can see, investing in an outdoor living area can provide significant returns. Not only does it increase the value of your home, but it also improves the overall quality of life. Adding a patio, deck, or outdoor kitchen creates more living space and opportunities for entertainment and relaxation.

So, if you’re thinking about ways to upgrade your home, consider expanding your outdoor living area. Your investment will not only pay off in resale value, but it will also provide you with an all-around more fulfilling home experience. Don’t wait any longer, make the investment in your outdoor living area today.