Outdoor Living Spaces That Boost Your Home’s Value

It’s no secret that the current housing market is difficult to sell your home in. That said, it makes sense to reverse-engineer the real estate market to make it work for you–if you have a list of requirements when buying a home, use that list to make improvements to your home before selling it. COVID-19 has changed the market by introducing the idea of outdoor living. Now, seamless outdoor living spaces are high on the list of priorities for homeowners and homebuyers alike. Three outdoor living spaces will increase your home value: kitchens, patios, and fire pits. Let’s dive into how they boost home value and how you can design them to maximize their appeal. Outdoor Living Spaces with Outdoor Kitchens Outdoor kitchen designs haven’t been popular as long as patios or fire pits have, but that doesn’t make them any less effective. It’s been reported that outdoor kitchens can increase your home’s value by as much as 30%, and others say that you can expect a return on investment of 100-200% when you resell your home. That said, the priority with an outdoor kitchen is to make it a luxury experience. The current emphases in the landscaping and outdoor living markets are on sustainability, functionality, and natural design elements. To design an outdoor kitchen that will increase your home’s value, use environmentally friendly materials like pavers, natural stone, reclaimed or recycled materials, and energy-efficient appliances like solar lighting and low-flow faucets. Outdoor living spaces are all about being as functional as possible. This could mean growing edible gardens within outdoor kitchens, installing built-in storage, and integrating seating areas, a bar, or a pizza oven. Design aspects like neutral or natural colors, modern or modular designs, and organic designs, colors, and materials are also popular and will increase your home value. Smart Technology in Outdoor Living Spaces Integrating smart technology in your landscaping wherever you can will make the outdoor living experience more automated, autonomous, and luxurious. Many smart appliances, such as landscape lighting, music, and heat/AC, can be controlled by a smartphone app or voice control technology like Alexa or Google Home. When designing an outdoor environment from scratch, it pays off to make it as “smart” as possible–literally. Outdoor Living Spaces with Patios Patios have long been a popular outdoor living space design element and are only increasing in popularity. It’s estimated that a patio can increase your home’s value by 8-10% and earn an ROI of over 80%. If you already have a patio, refinishing or repairing it can provide an ROI of nearly 500%. Patios increase your home value by providing an aesthetic boost and increasing the functionality of your outdoor living space. To make your patio as valuable as it can be, here are some things to do: make sure it’s in prime condition, note that larger, well-designed patios are more valuable, use higher-quality materials that last longer and hold their value better, and consider sprucing it up with an outdoor kitchen, outdoor lighting, or surrounding landscaping. Current patio trends don’t differ much from outdoor kitchen trends. There’s still an emphasis on modular and modern design choices, natural and organic materials and color palettes, and sustainable materials and appliances. Elevated dining experiences and paver materials are also priorities. That said, many homeowners also prefer the addition of a pergola, awnings, or other structure that provides partial coverage, as the semi-enclosed feel makes for a more seamless transition between indoor and outdoor living spaces. Outdoor Living Spaces with Fire Pits According to the National Association of Home Realtors and National Association of Landscape Professionals, fire pits recoup about 56% ROI. However, other studies have shown ROIs as high as 67% (2018) and 500% (2021) for a fire pit installation. Regardless, it’s likely that a new homeowner will install a fire pit after moving in, as they’ve been a popular feature for a long time. Fire pits contribute to more attractive, multi-functional outdoor living spaces. For most homebuyers, a larger, permanent fire pit is more valuable than a small, portable one. Gas-fired pits, landscape lighting integrations, and built-in seating will give your fire pit space an edge when selling your home. Current fire pit trends are not far off from other outdoor living space trends. Sustainable materials like recycled glass, reclaimed wood, and eco-friendly concrete are popular, as is the convenience of a gas-fired pit. Natural stone finishes, neutral colors, and integrated seating are hugely popular, as are large, rectangular pits. It’s common now to see fire pits and seating built directly into a patio, as this increases the space's functionality. Conclusion Outdoor living spaces are a comfortable, multi-functional way to entertain guests, enjoy nature, and build a beautiful property. Many outdoor living space features increase your home’s value and ROI, making the selling process much easier. Assess your space today to see which outdoor living features best suit your property.