4 Backyard Renovation Ideas to Increase Property Value
When it comes to a backyard renovation, many homeowners tend to use a small budget. That is understandable, especially if you have already spent big bucks on the overhaul of the rest of your home. However, it is worth noting that some backyard changes also add significantly to the overall value of your property. This makes them a sound investment.
Here is a look at some backyard renovations that will add to your home’s value and bring sound dividends when you decide to sell the place.
1. A Backyard Renovation for Decks
If you want your backyard renovation to increase home value, these renovations must be visible. This means going big with your backyard projects. One of the best ways to achieve this is to invest in a deck. An outdoor deck looks amazing, offers a great place to hangout outdoors, and serves as an eye-candy for potential buyers at the same time. In fact, it also improves the odds of selling your home quickly when you need to.
2. Landscaping Projects
Humans are predisposed to liking spaces with greenery. This is simply because a well-done green spot creates a genuine sense of tranquility in us. This is why you must include landscaping in your next backyard renovation. You can use a variety of plants, vines, trees, shrubs and other elements to create a perfectly landscaped corner in your backyard. The right way to approach this is to creatively use the available space and go with a landscape model that you can easily maintain.
3. Fence Additions
As with a deck and a landscaped corner, a fence is a backyard feature that is very visible. It also serves a very practical purpose of adding to the privacy and security of your property. Potential buyers may actually prefer a home with a backyard fence than one without. When it comes to a fence, you have virtually endless options. Wood fences are great in that they are both sturdy and aesthetically pleasing. You can create a fence on your own with some solid DIY skills or hire a professional interior and exterior renovation company to do the job for you.
4. Water Features
A water feature such as a fountain, a pool or a spring adds a luxurious touch to your backyard. When mulling a backyard renovation, you can easily add one to increase property value. You can even take a DIY approach by implementing one of these stunning DIY-friendly backyard water features.
Any well-planned backyard renovation, especially one incorporating the elements above, can be a good investment for your money. It will touch up your backyard to make it your favorite spot while also making sure you get your money back and then some when the time comes to sell your home.
If you’re thinking about adding a deck to your property, your planning should take into account ROI variables. Materials, size, access, and the “wow factor” all contribute to a prospective buyer’s perception of the value added by a deck to the property. It’s worth becoming familiar with deck construction in the comparable properties in your area so you can position yours where you want to be value-wise. Another value relationship to consider is that between your deck budget and the overall value of the property. It doesn’t make ROI dollars and sense to build something too grand for the size and likely resale price of the home. One rule of thumb used by contractors and architects is that a deck should be no larger than the home’s biggest interior space.
Keep in mind, too, that adding value to your home gets the attention of the assessor and the underwriter, so your property taxes and insurance premiums are like to be increased. Like anything else built by human beings, a deck will inevitably require some maintenance and/or repair as time goes by. Good choices of materials, with expert design and construction, are the ticket to keeping those costs down and your enjoyment and ROI up.