When it comes to increasing the value of your home, a backyard remodel is one of the best investments you can make. Studies have shown that well-designed patios can add up to 10% of the home's value and generate an impressive return on investment (ROI) of more than 80%. This can even result in an ROI of almost 500%. Even a small patio can create more space for outdoor living, which is now an essential part of a happy home life.
The beauty of an outdoor fire pit is that it allows you to enjoy your backyard even when the weather turns cold. A study by the University of Michigan found that landscape updates can increase property values by up to 11%. If you're looking to increase your home's value in your next appraisal, then investing in your backyard is a great option. People are investing more in their backyards, and the home improvement boom is driving this trend.
The University of Michigan conducted a home value study and found that properties with gardens increased resale value by 11.3% compared to homes with poor gardens. Adding features such as a fire pit, outdoor kitchen, swimming pool, outbuildings such as gazebos and sheds, and similar larger additions often results in an ROI of between 80% and 200%. In addition to adding plants to your backyard to beautify your landscape, consider planting something else that will appeal to buyers. But when it comes to selling, is improving your backyard really one of the best ways to add value? And if so, what improvements should you prioritize? We investigated.
When homeowners begin to consider renovating their homes, the backyard is one of the last areas where time and money are allocated. Don't forget an irrigation system if you don't have the time or interest in watering yourself. This will keep your backyard in good shape. The amount of time homeowners spend in their backyards depends not only on physical comfort but also on the level of solitude and seclusion offered by neighbors.
Fortunately, there are many things you can do to improve your backyard ideas for summer entertaining and that will also have a positive impact on the exterior appeal of your home. It's worth noting that you'll rarely make a profit on landscaping a backyard, but if you do it wisely, you should get your money back by adding value to your home. You'll also have a better chance of selling your home faster and for a higher price. Sometimes, all you need is a unique and attractive garden fence to change things up and add some value to that backyard.
For a little more peace and realignment in your day, consider creating a Zen garden which will improve life while increasing the value of your home. Knowing how much value a good backyard will add is only an estimate, so it's best to consult with your realtor for their expert opinion on what will work in your area before you start planning. This allows you to add bright accents along paths or walls to create an additional ambience in your outdoor spaces. Patel adds: “Outdoor living spaces are great for entertaining guests and can add value to your home because they make it more attractive to potential buyers.”.