We all know an outdoor living space adds to the quality and health of your life. However, is an outdoor living space an actual Investment or an Expense in home improvement?
Let's take a look in this article by looking at valid studies that include the American Institute of Architects and 2024 Outdoor Living Report.
We pulled our research from respected sources such as the 'American Institute of Architects' and the 2024 Outdoor Living Report to determine- Is there is a Return on Investment (ROI) for Outdoor Living Spaces? And, if such a ROI exist, which features for outdoor living are the best to incorporate in your outdoor living space?
Definitions- For the purpose of this article, a home improvement ROI or investment, refers to the measure of financial return or profitability resulting from a home improvement project. It indicates the amount of value or gain generated from the investment made in improving or renovating a property. An expense is defined as a financial burden or outlay and does not provide the homeowner an increase in value for their property.
American Institute of Architects- Report on Outdoor Living Spaces
As you can see from the American Institute of Architects 2023- Q2, demand for Outdoor Living Space ranks in one of the top spots 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.
2024 Outdoor Living Report
Below is a brief synopsis of the 2024 Outdoor Living Report and defines what are the current trends and features for an outdoor living space that will bring the highest ROI for a homeowner. To view the entirety of the 2024 Outdoor Living Report, please follow the highlighted link.
Top 5 Trending Outdoor Living Features
Which items/features will homeowners most likely buy/install in 2024 when asked by industry experts.
Outdoor Kitchens- 73% state outdoor kitchens. The demand for outdoor kitchens has been steadily trending for a few years now with no sign of slowing down. According to a report on outdoor kitchens by the National Kitchen & Bath Association (NKBA), “the demand is only increasing for this high-growth category.”. What is the most requested outdoor kitchen appliance? 11% report that a pizza oven is the most sought after outdoor kitchen appliance.
Fire pit/ fire feature- 58% report this as a sought after feature. They are standout features that are great for cooler evenings to create warmth and a cozy atmosphere. The demand for this feature can vary according to your geographical area. An example would be a coastal area wherein coastal outdoor fans that seriously cool and push air through an outdoor room would be highly coveted as well.
Pocket and sliding doors- 64% report this as a desirable feature. It plays a huge role in the top outdoor living trend of indoor-outdoor coherent design by being able to remove the physical barrier between the two spaces.
Outdoor Work from Home Space- 16% of experts believe this is one of the most wanted features this year. With remote working remaining a key part of people’s daily lives, it makes sense that some are beginning to create a space to work from outdoors.
Swimming Pool- 31% more people are looking to incorporate, update, or improve their swimming pool.
Seven Biggest Outdoor Living Trends in 2024
Indoor-Outdoor Coherence- The lines between indoor and outdoor are becoming more blurred with a huge majority of 78.3% of experts surveyed voted for indoor-outdoor coherence in design as the top outdoor living trend this year. This is supported by the demand for features such as: outdoor work-from-home-space and sliding/pocket doors.
Multi-functional Spaces- The backyard serves more than any one purpose. 48% of experts agree that it has to be flexible for various gatherings and activities all year round. This trend is supported by the increase in demand for outdoor kitchens, fire features and comfort demands for the outdoor space.
Easy Maintenance and Long Lasting Furniture- Whether it is during winter or summer, homeowners want furniture that is going to withstand the elements. In fact, 35% of pros believe low-maintenance and long-lasting furniture is the most popular outdoor living trend in 2024. A quick note about long-lasting outdoor furniture- outdoor furniture needs to be selected specifically for the climate it will be in. At Riviera Outdoor Decor, we specialize in coastal outdoor furniture, marine grade outdoor kitchens and accessories. For more information, contact us at: Riviera Outdoor Decor
Plants and Greenery- Outdoor Living Report of 2024, states 30% of experts say that adding more plants and greenery is one of the biggest trends.
Sustainability- In 2024, outdoor living trends continue to evolve, reflecting a growing desire for connection with nature, sustainable practices, and multifunctional spaces
Interior Design Elements- Once again the lines between interior spaces and outdoor spaces are being blurred with items such as luxurious sofas and rugs that are making their way onto patios, along with traditional interior decorative textiles like cushions and blankets according to 20% of the experts.
Zen style- 13% of professionals say it is set to be one of the most popular. People seek peace and tranquility in their homes, and while nature-inspired interior design remains on-trend, nothing beats the real thing.
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