Spring and Summer Yard Updates That Can Boost Your Home’s Value
These outdoor upgrades are known for their strong return on investment.
Well-chosen updates can turn your yard into a sanctuary, especially during beautiful weather. But the benefits don’t stop there. Outdoor features may also add value in the eyes of prospective buyers. Here are four updates that often produce a strong return on investment (ROI).
Adding a deck or patio
A deck can turn your yard into the ultimate hangout spot. According to Remodeling Magazine, the average cost of a 16-by-20-foot wooden deck is about $11,000 in Wisconsin, and its resale value is about $9,000. This makes the ROI about 82%. Even a simple patio helps would-be buyers imagine themselves entertaining in the yard, increasing the odds of a sale.
Installing a fire pit
Your backyard can feel cozier than ever with this addition. Installing one that complements the design of your patio or deck is a smart choice, as is choosing a gas burner. The National Association of Landscape Professionals (NALP) estimates that a fire pit costs about $4,500 to build, $3,500 of which will likely return to the homeowner when the property is sold.
Building an outdoor kitchen
Outdoor kitchens have the highest return on investment in warm parts of the country, but Midwestern homeowners shouldn’t rule them out. According to Zillow study, homes with this feature sold for 25% more than expected. If you decide to go for it, consider placing your outdoor kitchen the backyard and incorporating features such as a sink, a grill, ample counter space that’s easy to clean and stainless-steel cabinetry. An ice chest or fridge is a nice touch as well.
Planting or removing trees
Not ready to build something new? Make the most of your yard’s natural beauty by removing trees that have seen better days, pruning and healthy specimens and adding fresh stock to spots that look sparse or need shade. According to the Council of Tree and Landscape Appraisers, just one mature tree flourishing in your yard can add between $1,000 and $10,000 to your home’s value.
Paying for Renovations
Here are three strategies for funding home and yard projects:
Learn more about home renovations and maintenance: