Silver linings can be found anywhere, even in circumstances like our current ones. Seeing more families spending time, together, outdoors is one of the byproducts of our stay-at-home orders that put a smile on our faces. We build homes for families with the hope that good memories will take place within and outside of the foundation we lay and the walls we raise. With the increase in time outdoors, many homeowners are looking to find a spot or two for improvement. As long as you are improving these features, it can be helpful to think about the return investment and to find ways to boost your home value with the renovations.
Patio/Porch/Deck
There is a reason many house listings feature pictures of a patio or porch, a space for a table, chairs, a fire pit, or toys is high on the wish list for many homeowners. A patio is a great way to really explore your aesthetics and wishes. Some homeowners opt for concrete which can be stained or stamped to look very different from your driveway or sidewalk. Other homeowners prefer lumber, whether manufactured poly lumber or actual wood. Still others may go for a slate or similar material. From there, coverings, additional features like lighting or cook areas, and size are all considerations. According to Spacewise, the ROI of a patio is 100% for a new space and can approach 500% if an existing patio merely needs repair.
Fire Pit
The term fire pit is somewhat misleading, with most not being dug down into the earth, but rather a designated fireproof space with a structure and surrounding retaining wall built. While you can easily visit a store or order a small fire pit online, the option to build in some sort of fire pit with or without natural gas running to the space is very appealing. There are some considerations, including adding seating space around the firepit and making sure there are no surrounding structures that could be in harms way. The results will vary, but many will see almost 80% of their money returned according to Spacewise, with potential evenings of enjoyment built into the space, too.
Swimming Pool
Especially in Texas, the draw of a pool is considerable. Being able to jump in and out to cool down on warm days without packing up gear to visit a nearby location sounds great for many homeowners. The return on this investment is considerably less. In fact, once upkeep is factored in, the homeowner’s personal enjoyment of this space should be the sole factor in whether to install one or not. Another factor that may impact the decision is in regards to professional help. This is a project a professional will have to do and many rely on professional help for at least some upkeep during the life of the pool as well.
Outdoor Covering
Shading your outdoor patio, porch or deck is a great way to add more usefulness to your space. By blocking some of the sun and allowing features like a fan or lights to be included in the build, you will find yourself moving outdoors more frequently and staying out for longer periods of time. This addition should be considered a personal preference, however, with Spacewise arguing that there is a 50% rate of return, with a larger potential return on a pergola style kit. If you decide to build one, their reminder is to consider space, using “a covering that is tall and wide enough so everyone can move around outside.”
Regardless of the return yield of your investment, any improvements need to be ones that make sense for your home and make you happy. If you are looking to jump in yourself, these are merely a jumping off point. If you are looking for a touch of help and the expertise and care we can provide, please contact us today. Our team can help create the perfect space for you, indoors or out.