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Outdoor Upgrades That Add Value to Your Home

Key Takeaways

  • There’s no need to “keep up with the Joneses,” but you want your home to fit in with your neighborhood.
  • The way a house presents itself and how it makes people feel is factored into its value.
  • The right upgrades will depend on the local climate, your neighborhood and the housing market.

Outdoor living spaces not only make your yard more enjoyable, they also attract buyers when you’re ready to sell. Monetarily, not every upgrade is worth it, but you have to take into account what you really want out of your yard.

Let’s face it; first impressions are everything when you’re shopping for a home. According to real estate broker Lynda Le, “sometimes buyers decide on a house based on the curb appeal, or lack of.”  The way a house presents itself and how it makes people feel factor into its value.

Learn more tips from broker Lynda Le, and which outdoor updates will provide you with the best return on your investment (ROI).

Lighting

Photo credit: @ladyslittleloves / Instagram

Outdoor lighting serves many purposes. While it adds beauty to the space, it also provides a sense of security. Well-placed lighting near lounging or outdoor cooking areas enables their use after dark and also serves as a deterrent for potential thieves. The best part of outdoor lighting is that it’s a relatively inexpensive upgrade.

Deck / Patio

Photo credit @ispydiy / instagram

A nice patio, deck or porch is a relatively inexpensive way to extend your home’s living space. However, there are many configurations to choose from. For example, would you like stone, cement or wood? Roof or sun and stars? Would you like it in the front, back or side yard? The right choice for you will depend on your local climate, your neighborhood and the housing market. For instance, if most of the houses on your street have front porches, it may be a good idea to add one. There’s no need to “keep up with the Joneses,” but you want your home to fit in with your neighborhood.

Fire pits

Photo credit: @Goreno.inc

Fire pits add an instant boost to any deck or outdoor living area. Sitting around a fire with family and friends is a great way to make memories. Fire pits can be gas or wood burning, portable or stationary. You can build a very basic fire pit for about $100, but the cost can go dramatically up from there. Most buyers won’t have a fire pit on their “must-have” list, but it can be an added selling point if it’s done right.

Fencing

Photo credit: Reggaefencepro / instagram

Fencing can add definition and privacy to your outdoor space. If gardening is your thing, you may want to consider a living fence — a boundary made up of bushes or small trees. Man-made fencing can also add character and functionality to your property — and it’s a great way to keep pets or small children from wandering away.

What to remember

Upgrading your outdoor area can get pricey, so it is important to balance your wants as a homeowner with what is desirable in the housing market. For example, if you put $50,000 into an outdoor kitchen in Minnesota, then you may not get a return on your investment when you sell the home. Lynda Lee summed it up nicely when she said, “those thoughtful enhancements that are functional and clean simply appeal to more people.”

More information

We are committed to helping you reach your potential by providing personalized solutions. Our dedicated colleagues can help you find the right product to help you reach your goals. To learn more about home equity, please call 1-888-333-1206, visit us here, or Ask a Citizen at your nearest Citizens Bank branch.

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