4 Outdoor Renovations with Great ROI


ROI

Whether you are considering selling your home or simply trying to increase its value for later on down the road, it is important to make renovations that will benefit you and increase the value of your home. Not all adjustments cost a lot of money, but there are various fixes that can make a huge impact on the presentation of your home to potential buyers.

An outdoor living area is a great addition to any home you live in, but your outdoor space can also be a huge help when trying to attract home buyers. According to Realtor.com, 51 percent of buyers surveyed said that outdoor living space was the most attractive quality in a home.

Here are four outdoor renovations that can help you have the best return on investment (ROI) possible for your home.

1. Build a deck or patio

While building a deck or patio may seem like a big financial commitment, the amount of outdoor space it creates makes it well worth the cost. Decks and patios  are versatile and can be used for outdoor dining, grilling or simply as a space to spend quality time. When buying a home, a large majority of people want a patio, deck or terrace included.

2. Add an outdoor fireplace

Outdoor fireplaces can be enjoyed by both adults and children, especially during the fall and winter months when it is chilly outside. Whether it is being used for making s’mores or having people over for a bonfire, fireplaces add value to your home. Fireplaces are one of the most popular outdoor design element for 2016. On top of being highly desired, fireplaces are fairly inexpensive additions and easy outdoor renovations with great ROI.

3. Don’t overlook landscaping

Landscaping can be easily overlooked, but is an extremely important element of your outdoor space that should receive annual maintenance. Planting trees can help block the sun from your home, which is a good way to lower energy bills. If done well, landscaping can add up to 28 percent to the value of your home.

4. Invest in an outdoor kitchen

Investing in an outdoor kitchen can bring your home a very high return on the initial investment. Outdoor kitchens are becoming a very popular addition that people are considering when buying a home. There are a lot of factors that go into creating an outdoor kitchen, such as size, location and what materials to use. Combining a deck or patio with an outdoor kitchen is also an option to consider. If you can budget for it, an outdoor kitchen can be a great investment opportunity for your home.

When it comes to your outdoor living space, making the right decisions for additions and renovations to your home can greatly impact your return on investment.

When it comes to your outdoor living space, it is important to find the additions, renovations, and changes that are right for you. If you would like to brainstorm and work with experienced realtors in Knoxville, contact Woody Creek Realty today.

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