Have you always dreamed of having a pizza oven outdoors? Such a fun addition to your outdoor living space but don’t expect it to necessarily bring in more dollars when you decide to sell. While backyard retreats are definitely on home buyers minds these days, there are certain upgrades which don’t often translate to a higher market value for your home.
Swimming pools and pool houses are a good example. As much fun as they are for some people, pools can be a hassle and too costly to maintain for others. Many potential homebuyers also view pools as dangerous if they have small children or grandchildren. And a pool house, unless it’s a structure that can be used for others things, can seem like just another space to furnish and clean.
Extensive gardens and landscaping are something else you might want to avoid if you’re thinking about selling. You might like to putter in the garden or spend hours or money keeping a fabulous landscape pristine but this could be someone else’s nightmare. However, attractive, low-maintenance landscaping definitely enhances curb appeal and helps resale.
On the flip side, there are certain features and renovations that can pay off big time when you decide it’s time to sell. Here, in my opinion, are the top three.
As with all things resale related, moderation is key. If you spend $200,000 on a gorgeous outdoor kitchen that rivals an interior gourmet kitchen, don’t expect to get your money back. But if you love cooking outside and plan to stay in your house a long time, by all means create that alfresco gourmet kitchen with all the bells and whistles, such as a pizza oven and smoker. You’ll enjoy it and that’s what matters most. If, however, you plan to move within five years, I’d suggest installing a more modest outdoor kitchen, which you can still enjoy and which will definitely help sell your house.
According to Absolute Outdoor Kitchens, homes with outdoor kitchens can potentially see an ROI ranging between 100% and 200%. Keep in mind that higher returns are more likely for homes in the Southwest and Southeast compared to those in the Midwest, Northwest, or Northeast.
Here are a few outdoor kitchens to inspire you!
DID YOU KNOW? Houses with an outdoor kitchen mentioned in the listing description sold for 4.5 percent more than similar homes. (Zillow)
The beauty of a pergola, besides how pretty they are, is the fact that they allow you to enjoy the outdoors without having the sun in your eyes. You can even install a retractable shade on the pergola to protect you from a light summer rain. And those pergolas with wisteria dancing all over them? How beautiful is that? Wisteria grows like a weed creating a stunning canopy for a pergola in no time at all. Here are a variety of pergolas that inspired me. Would one of these work for you?
DID YOU KNOW? Spaces with pergolas have been shown to sell for 2 percent more and an average of 8 days faster than expected. (Zillow)
What’s more fun than gathering around the fire pit? S’mores anyone? Not an expensive upgrade (premade above ground options can ring in as low as $300), a fire pit is an easy way to amp up the fun quotient on your outdoor living space. Here are a few fire pit designs that are anything but ordinary.
DID YOU KNOW? Properties with fire pits sold for 2.8 percent more than comparable listings. (Zillow)
No matter if you’re looking for resale value or you just want to enjoy your home for years to come, there are so many ways to upgrade your outdoor living area. As a person who enjoys summer more than any other season, I really appreciate a home that extends to the great outdoors. The backyard is such a great place to start, especially if you’re looking to add resale value.
Finance Buzz surveyed 1,500 adults in the U.S. about their home-buying plans post-pandemic and 27 percent of respondents said their main motivation for moving would be to find a place with more outdoor space. Enough said.
Until next week,
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