How Can a Patio Add Value to Your Home?
A lot relies on the location of the house, the patio type, and buyer demand in the local market.
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Are you looking for new ideas and ways to add value to your house? You already have some great ideas, such as adding a pool or landscaping your garden, or repainting the whole house. While those additions and renovations can certainly improve the resale value of your home, have you considered adding a patio to your house?
A patio can add immense value to your home with its looks and functionality. It is like designing an outdoor living space that is complete with a seating area, kitchen, and fire pit. It is no wonder to see patios as one of the most sought-after amenities as they make a valuable addition to real estate value and easily raise the home's value by 8–10%.
Here are some compelling reasons to consider patios.
- Due to the growing trend of flexible and remote work, patios are considered attractive to buyers. Real estate surveys show that the patio is one of the most-prioritized features for homebuyers. As house sales have been moving slowly in recent months, you need to ensure that you are doing all you can to make your property competitive and attractive.
- A great-looking and well-designed patio can add that "wow" factor to any property and is a huge positive in the real estate market. It is much quicker and easier to sell a house with a patio. Place a green modern teak lounge chair and other accessories to make the patio more attractive.
- Even if your house doesn’t have a patio, you can invest in one and expect a 109% return on investment. Adding a patio is a great start, as it improves house looks and prices. As a result, you will not only find more buyers for your home, but you will also be able to get the price you want.
- An addition to usable outdoor living space is indeed one of those smart construction decisions, and a well-kept patio can help you recoup more money. You can enjoy the patio during your stay in your house and recoup all the money when you sell the house.
- A unique or attractive patio can indeed get more money for the homeowner, particularly if they are low maintenance. Compared to a bedroom, which recovers about 78% of the value, a patio recovers around 85% of the cost of installation.
- Just keep in mind to keep the size and design of the patio well in proportion with the rest of your house. The patio should look like an extension of the house and not look too ambitious. So, plan and design the patio according to your needs and the size of your house.
In a nutshell, the final value and competitiveness of a property will indeed rise if it has a patio. Needless to say, a lot relies on the location of the house, the patio type, and buyer demand in the local market. Nevertheless, making a beautiful patio is certainly a worthwhile investment and will attract more buyers. Homeowners love the idea of relaxing outdoors with their friends and family and always have extra room to enjoy.
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