Whether you’re living in your forever home or thinking about selling in the near future, it’s worthwhile to take the time and effort to make your outdoor space shine. But not all upgrades are created equal. We talked to Realtors® and landscape architects to find out five outdoor improvement projects that are worth the investment. Here’s what they had to say.
If you’re looking for the best return on investment: Consider an outdoor kitchen.
Not only are outdoor kitchens trending, they also have a return on investment of 100%. That’s according to the National Association of REALTORS® Remodeling Impact Report: Outdoor Features which looks at improvements from basic landscape maintenance to in-ground pool additions, and experts like Richardson and Hopkins.
“Outdoor entertaining spaces are quickly outpacing any other home improvement project for best return on investment,” Hopkins says. “Whether it’s to bask in their own oasis or entertain and host family and friends, it's undoubtedly a huge selling point for buyers.”
“You don't have to invest in the most luxurious outdoor kitchen appliances,” adds Richardson. “Instead, prioritize what you like.”
If you want to maximize joy: Opt for a fire pit.
An outdoor kitchen may offer the highest ROI, but according to the NAR report, a fire feature, like a fire pit, has a “joy score” of 9.7 (out of 10). If that’s not compelling enough, Boehm considers fire pits to be “a major selling point.” And Crabtree agrees. “Buyers are increasingly looking for homes with versatile outdoor areas, particularly as it relates to social gatherings and entertainment,” she says.
Crabtree adds that fire pits are especially wise investments if you live in a climate like that of Atlanta, where it’s feasible to spend time outdoors throughout the year. “Our mild winters create the perfect environment for these fireplaces to be highly functional,” she says. “It’s not too cold to enjoy being outside, yet it’s cool enough that a cozy fire adds warmth and charm and it’s practical!”
To make the most of this feature, Boehm suggests incorporating landscaping around the seating area so that it complements the rest of the yard. But if you already have a patio space, adding a fire pit can be as simple as buying a Solo stove and a few Adirondack chairs.
If you’re looking for a big win with a small spend: Add lighting.
“Outdoor lighting only enhances the beauty of the home,” says Richardson. It highlights any elements you’ve already spent money on—such as water displays, trees and more—and also adds functionality for al fresco entertaining. You don’t need to spend too much in the process, either, especially if you opt for battery- or solar-powered lights that eliminate the need for wiring.
If you’re looking for a long-term pay off: Install a sprinkler system.
Richardson makes a compelling case for installing a sprinkler system, which not only delivers a pay off when selling, but also makes upkeep of greenery much easier. “In-ground irrigation systems are costly upfront, but they can save homeowners money in the long run and also help with aesthetics and convenience,” he says.
If you want to entice future buyers with curb appeal: Go forward with a garden path.
A garden path not only makes your yard more accessible, it also adds to curb appeal and makes your landscaping feel more established, a plus for many buyers. “With interest rates higher, buyers have less funds each month to fork out on projects, so having it done and rolled into the price is something they will pay for,” Hopkins says.
Article by Sarah Lyon for Realtor.com
