Outdoor Living Spaces
The extent of most of our “outdoor living spaces” is a grill on the patio and some sun bleached furniture from the big box home improvement store. An outdoor living space is not only a great feature to enjoy and entertain in your home, but it will attract buyers like mosquitos on a summer cookout. A National Association of Realtors survey show 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.
The big ticket space include outdoor kitchens, with all the bells and whistles ranging from a simple grill to a cook station with sink, refrigerator, granite counter tops and storage space.
To Get The Real Value —
Building your outdoor living space can be costly, but it may not add value to your home if it’s not done correctly. Here are some pointers to get the best return on your investment.
Conformity In The Neighborhood
Sure you can put in a huge fire pit, ceramic pizza oven, high end appliances and a water feature that rivals a small tropical island. You have to keep your neighborhood in mind. If you put $20K in you outside space and you want to add $20K to your home value, will it fit with the comps in the neighborhood. If not, you won’t realize a $20K increase in your value. You can be on the high end of the comps, but not exorbitant. Stick with the functional use of our space.
Don’t forget the Fence —
Not only does a nice fence add to the overall look of your project, but it will give you a bit more privacy during those entertaining evenings with family and friends.
The housing market is pretty good right now and homeowners are finding that these outdoor spaces grab buyers attention. Buyer are willing to pay more with a well done outdoor living space.
If you would like advice about selling or buying your home. I would love the opportunity to help you by saving you time and money. Contact me today.