We are posting a little out of order for our Blog series. Perhaps, the current conditions have you going outside more and contemplating the idea of expanding your Outdoor Living Space. If so, which ideas will bring the best Return on Investment (ROI)? Let's take a look.
Outdoor Living Space an Expense or an Investment?
Here is a "Before" picture, contrast this with the "After" picture. Which one would you want to buy?
The "After" picture
What a difference- would you agree? Which one are you more likely to buy?
We pulled our research from respected sources to first determine if there is a Return on Investment for Outdoor Spaces
As you can see from the American Institute of Architects, 2018- Q2, demand for Outdoor Living/Patio Rooms ranks in the top spot for specialty rooms for seven consecutive years. That is good news for those of us who love to be outdoors, entertain outdoors with family and friends and enjoy a good investment.
What features of an Patio Living Space provide the highest ROI?
The overall rule is a well planned and developed Outdoor Living space will bring the most value to for an investment in your home. To get the most value from your outdoor space, seek out a professional to offer you a Virtual Design of your Outdoor Living Space and help add to the features of your outdoor space at a minimal cost. An Outdoor Room can be done in stages of completion as your budget allows.
Without further ado... May I have a drum roll- please?
Here is our count down to the four best investments for your outdoor living space.
- Patio- Patio spaces are the most sought after amenity with a potential ROI of 100% depending on the size and materials used. However, the key here is a well planned space with a budget that is in keeping with the rest of the neighborhood. A Designer that specializes in Outdoor Living Spaces to source the best materials for the budget is a win. Contact here
- Outdoor Kitchens- Most experts state that you will at least break even. However, according to Absolute Outdoor Kitchens and their research, you can expect a return of 100-200%. The validity of the study has not been verified for the purpose of this Blog.
- Wooden Deck- According to Remodeling Magazine, the average spent on a wooden deck is $11,000. and one can expect a return of around $9,000. this would be a ROI of about 82%
- Fire Pit- Great score on a home resale value is to add a fire pit. Most estimates put the ROI around 78%. A bigger return is expected if it has gas in place closing in on close to 100% ROI.
- Swimming Pool- The ROI for a swimming pool are all over the place. As you can imagine it depends on where you live. If you live along the coast, south or south west, your return is much higher. If your pool is lower maintenance with a salt water chlorinator, you can expect a higher return as well.
The best return to measure is how much joy does it bring to you, friends and family.
Want more ideas on Outdoor/Patio spaces?
We publish a monthly Newsletter- Subscribe here