Does Outdoor Living Space Add Value?

Recently, the American homeowner has focused on outdoor living space for several years in a row now with many going to great lengths to design and outfit their backyards, patios, and gardens at more like lavish home extensions. Outdoor living offers a healthy mix of relaxation, entertainment and all the joys that nature has to offer.

Allowing homeowners to have more outdoor living spaces beneficial in multiple ways, many of them might wonder if such an investment could increase the value of their property. Home renovations are controversial since homeowners stay in their homes longer and the real estate market is competitive.

The article will discuss beautiful outdoor design ideas to boost your quality of life and property value. You can make confident outdoor upgrade decisions when you grasp the existing standard, local pressure points, and benefits of moving outside.

The Popularity of Outdoor Living Spaces in the USA

The American dream home often includes an outdoor living space. From a comfortable patio with an outdoor kitchen to private gardens, they all seem to bring the outdoors seamlessly inside.

• Recent Trends

The outdoor living trend has exploded with the demand for environments that are both adaptable and useable. The earliest patios and decks were simply wooden platforms added to the outside of your home, but today you can choose some pretty sophisticated designs with seating, fire pits included in the deck itself or even an outdoor sound system. With homeowners craving to entertain in the great outdoors, ensuite kitchens with outdoor grills, sinks and storage are quickly gaining ground.

• COVID-19 controversy

COVID-19’s focus on interiors and social isolation has made outside life at home private. A means to enjoy nature and fresh air without leaving the house became more important than any other garden upgrade. The worth of enhanced home improvement increased as a result of outside remodelling.

• Statistics

Most current information reveals that outside living area financial investments have risen greater than 20% during the last three years. More homeowners are becoming open to the idea of spending on other amenities including outdoor lighting and heating, as well as landscaping for their dreamy backyard haven.

Types of Outdoor Living Spaces That Add Value

However, not all outdoor living spaces provide the same value added. Let’s see the most important types:

     1. Patios and Decks

Pros: Patios and decks are among the most popular outdoor projects. Dining porches, and living and lounging spaces that facilitate socializing are complete selling points for buyers.

ROI: You can expect a cost-to-value ratio of 60-80% when you add the deck or patio if materials is taken into consideration and design aesthetics are regarded.

     2. Outdoor Kitchens and Dining Areas

Pros: Boosts Your Home’s Entertainment FactorOutdoor kitchens transform your home into the perfect spot for hosting. BBQs, family gatherings or parties of any sort can be hosted in these spaces making your property far more appealing to buyers.

Homes with outdoor kitchens can see a 30% value-add

    3. Fire Pits and Outdoor Fireplaces

Fire Pits & Outdoor Fireplaces: A warm and cozy ambience will make the outdoor area usable longer throughout those chilly months of the year.

Return on Investment (ROI): On average, you’ll get back 50-70% iterais also meaningful to draw the attention of our beloved customer segment.

    4. Landscaping and Gardens

Restoring your home’s gardens and landscaping might increase its resale value by 5-15%.
Professional landscaping can boost the visible attraction of your house, which in flip draws more consumers.

    5. Pools and Hot Tubs

Conclusion: Adding a pool and hot tub are luxury additions that will make your outdoor living space experiences more enjoyable, without increasing the overall value. But the way they do that is region-specific.

Cold regions have a lower ROI, while warmer climates with great weather demand pool, increasing property value by 7% to 12.5% in Florida.

What Are the Financial Benefits of Adding an Outdoor Living Space?

The financial benefits of an outdoor living area can be wide-ranging, starting from the most basic — if you ever sell your house. It may help increase its value and attract potential buyers — to more complex such as potentially being able to deduct certain expenses on your tax return.

• Increase in Property Value

Outdoor lifestyle bonus: These social areas can increase the value of a property by an average of 8-12%, which makes them very tempting for sellers.

• Cost vs. ROI

Outdoor Costs: Outdoor project costs generally range from. The price difference can be a few thousand dollars for just the basics, to well over $20k if you want everything.

However, the return on investment in these cases usually justifies the cost.

• Tax Benefits

Potential Deductions: Some outdoor improvements, like water-efficient landscaping or solar lighting, for example, may be eligible for a tax deduction/credit as well.

Top 5 Tips for Raise the Value of Your Outdoor Living Space

Let’s take a look at the top ways to make your outside area more valuable.

   1. Start with a Plan

Design & planning — Design and planning, is the prime important stage. Hiring a professional designer to plan and install an outdoor living space that works functionally with the architecture of your home.

    2. Quality Materials

Focus on Longevity: High-quality, weatherproof materials will keep your outdoor space in prime condition for years to come.

   3. Consider Maintenance

Low-Upkeep Results- Opt for options that can assist appeal to patrons who don’t need or do not have the time, vitality, or talent required to take care of gardens and trees.

   4. Sustainability Matters

Green Features: Add solar lights, rainwater harvesting and drought-tolerant planting to raise the value of your outdoor environment.

  5. Adding Functional Features

A beautiful yard is the dream of a lot of people but having a space that you can enjoy throughout the year is even more important. That is why it’s crucial to add things like cozy seats, outdoor heating for the winter, and general illumination for the outdoors.

With Blessing Landscapes, your garden can have all the practical features you desire without compromising its aesthetic appeal.

Wrap Up:

Installing an outdoor living space can do wonders for the value of your home in addition to upgrading the level at which you live. Just put your calculations hat on, and think through the kind of outdoor space you want to enjoy regularly (split over 3 bedrooms or two living areas). Whether you are about to sell your home or just want a more beautiful and efficient exterior area, setting up outdoor living spaces is the way to go.

Ready to Transform Your Outdoor Space? For more tips on adding value to your home, consult a nearby real estate expert or contractor today.