Do the renovations you make to your backyard raise the value of your home? Because of the pandemic, most of us have been forced to stay in our homes, which has meant extensive use of our outdoor spaces as extensions of our living rooms, kitchens, and dining rooms. By now, we are all aware that having a lovely garden is an appealing feature to many home buyers.
Suppose you are considering extending your house’s living space by installing a patio or deck. In that case, you can be sure that you will get a return on your investment when it comes time to sell.
In reality, of course, patios frequently have a resale value of 100%, which indicates that you may have the opportunity to make more money on the sale of your property than you invested in the remodeling. On the other hand, the installation of a do-it-yourself patio may result in significant problems, such as stones that are not level or a mosaic of materials that do not match.
Does A Patio Add Value to Your Home?
Patios are a desirable amenity for most homes, which is why including one in your property can be an asset when attempting to sell it quickly. The price of constructing a patio can range anywhere from $2,500 to $5,300 or more, depending on its size and the kinds of materials it is made of. In light of this, it is projected that well-designed patios not only add 8 to 10% to a home’s worth but also earn a return on investment of more than 80%.
Refinishing or repairing an existing patio, which costs roughly $1,400 on average, would be a preferable alternative for most homeowners. It can generate a return on investment of around 500%.
Installing an outdoor patio is typically less expensive than building a deck, yet they boast a resale value of 100%. It is reasonable to anticipate that you will get your money’s worth out of the investment.
The popularity of home renovation projects is fueling an increase in homeowners’ willingness to put money into the backyards of their properties. According to a study by the University of Michigan, the value of a home that has been landscaped is 11.3 percent more than that of an identical home that does not have decent landscaping. Furthermore, the website SmartMoney.com reports that the value of your home would increase by 12.4 percent if you have a landscaped patio.
Concrete patio resale value is the show’s real star, offering the lowest price point to install and the highest returns. However, like any major home remodeling project, you aren’t guaranteed to recoup all the money you spent on a patio at resale.
However, before you get carried away and start pouring concrete all over your backyard, you should remember that specific patios are the only ones with that much market value. The trick is to give your yard just enough of an upgrade without going so overboard that you end up losing money when it comes time to sell your home.
Because most households desire a sizable yard with an abundance of grass and several other forms of landscaping, a modest patio is typically more preferred than a large patio. Concrete, brick, tile, hardwood, or flagstones are some of the materials that can be used to construct patios. However, the least expensive choice (concrete) is the one that will result in the greatest increase in resale value, coming in at an impressive $5 per square foot. Enhancements such as outside lighting and pergolas can add value to your property and make it more enjoyable to live in while you are still the owner.
Does a Covered Patio Add Value?
Your backyard can benefit from shade and privacy when you install a covered patio. Even when there is bad weather, it is an excellent spot to get some fresh air and a beautiful area to have a barbecue in the summer. The most important consideration, though, is whether or not a covered patio increases the value of your home.
The correct response is “yes” Your home’s worth will unquestionably increase if you install a patio cover. However, as is the case with any improvement, it is essential to keep in mind that the most luxurious and costly upgrades generally won’t increase the value substantially more than the upgrades that fall in the middle of the price range. Stick to materials and finishes of a mid-level quality if you want to get your money’s worth out of your investment.
Despite this, if you are concerned about the market value of your home, you can design the covered patio of your dreams. You still have years ahead of you to enjoy it, and if money is not an issue, then the benefits most surely exceed the downsides. However, if money is an issue, the rewards may not outweigh the drawbacks.
Read More: 8 Cheap Patio Flooring Ideas to Choose From
The time you keep the patio before selling it is another factor impacting the return on investment. Because of this, routine upkeep is a significant component of patio construction, which is especially important to consider if you intend to keep the patio for several years before selling your home. On the other hand, patios require only a basic cleaning once a year and, depending on the material, re-staining once every 2 to 4 years. Luckily, patios are relatively simple to maintain. Your return on investment (ROI) will likely be greater if you keep it better.
Repairs should be made as soon as possible to any fissures, cracks, or other problems with the filtration system in order to prevent potential buyers from walking away over minor concerns.
How to Upgrade Your Existing Patio
1. Power Wash Your Patio
The first thing you should do is give it a thorough power wash to remove all of the dirt and grime. Because you are working with solid stones or concrete in this area, it will be difficult to cause too much harm.
You will require a power washer nozzle with a zero-degree angle to remove tough stains and sealant from concrete. You may save the expense of purchasing a pressure washer for a single cleaning by renting one from Home Depot. The 3500-4000 PSI Pressure Washer is the model that is recommended for heavy-duty operations such as washing a patio with a wide surface area.
2. Reseal Your Concrete or Pavers
After your patio has been power washed and allowed to completely dry, it needs to have a new coat of sealant applied. The sealant fills the holes in concrete and prevents the material from collecting water and salts by obstructing the pores. Around every three years, you should apply a new coat of sealant to your patio to prevent it from becoming discolored, cracking, and crumbling.
A concrete sealant may be purchased at any store that specializes in home improvements.
3. Wipe Down All Your Outdoor Furniture
A piece of furniture with mold, spider webs, stains, and filth all over it will only help turn off potential purchasers. Suppose you intend to leave the furniture out for showings. In that case, you should first give it a thorough cleaning using the product recommended for the specific material. This handy information is provided by Better Homes and Gardens, a reputable home improvement business that has been around since 1922. It details which remedies are safe to use on various types of things.
4. Include Some Plants
Amp up your outdoor living space with a little bit of greenery.
You don’t have to grow an entire jungle if that’s not the appearance you’re looking for, but adding a few plants here and there to your outdoor space may help make it cozier and more pleasant to spend time in.
The cultivation of a beautiful landscape should always include careful attention to the planting and maintenance of trees. Homeowners might anticipate recovering the real money spent on tree care through increased property value. On the other hand, fruit trees tend to be the least productive when it comes to adding value to a property. Yes, they give off a pleasant aroma when they bloom, and you are welcome to eat the fruits they produce.
However, it may be several years before particular trees provide fruit. And when they do, the rotting fruit falls to the ground and attracts flies and other insects like a magnet. In addition, fruit trees demand more maintenance and trimming than, for example, a native white pine. Before you have any trees planted on your property, you need to make sure you know the obligations that come with them.
Include some plants that repel insects on your patio and in the area surrounding it if you like the airiness and spaciousness of your patio but despise the insects that may congregate there. One of the strategies to keep bugs away from your patio and increase the amount of time you spend outside is to use this method.
5. Add Some Outdoor Lighting and Amenities
You can boost your chances of selling your home for a higher price and (in some situations) in a shorter amount of time by enhancing it with additions such as outdoor living spaces including patios and decks, fire pits, and outdoor kitchens, and even swimming pools, for example.
The installation of an in-ground pool can range anywhere from $30,000 to more than $100,000. A swimming pool that is lined with gunite is the default option since it is long-lasting and may be fashioned into virtually any design. Gunite pools are constructed using a rebar framework with a concrete and sand mixture sprayed over the top.
In a typical swimming pool, each of the pool’s walls is elevated above the water level, which keeps the water confined to the swimming area of the collection. One or more of the pool’s walls are constructed to have the same height as the water level in an infinity pool so that the walls cannot be seen from within the collection.
To maximize the use you get out of your backyard swimming pool, one more suggestion is to install underwater lighting. This hack will make swimming at night more fun.
Wood decks, for instance, provide the best value for their pricing because of their low cost and a high degree of demand in the home market.
Suppose you’re most concerned about return on investment. In that case, you should put your money into a shared patio area rather than all the upscale additions.
Enhancements such as outside lighting and pergolas can add value to your property and make it more enjoyable to live in while you are still the owner. Alternately, you might conjure up the illusion of a meal-eaten brunch by setting the scene with a traditional patio table and chairs, which you could adorn with a simple vase filled with fresh flowers, as well as outdoor-appropriate place settings and wine glasses.
Get in Touch with Paragon Remodeling to Learn More About How a Patio Adds Value to a Home
Get more information about the advantages of outdoor patios and how they can increase your house’s value by contacting us immediately. We would be delighted to discuss the possibilities with you and assist you as you get started on this fascinating venture.