INVESTING IN YOUR OUTDOOR SPACE
Category Home owners tips
Although kitchen and bathroom renovations still top the list as the upgrades that add the most value to a home, a growing number of homeowners are now looking to improve their outdoor living areas.
In spring and summer, South African families spend a great deal of time outdoors. An outdoor home improvement project will assist in maximising the enjoyment of the property’s outdoor spaces and add to the appeal of the home when it comes time to sell.
There are several reasons why investing in the outdoor living area of your home could pay off in the long run:
Increased value and buyer appeal
To a large extent, you will be able to recoup a significant portion of the money spent on renovating and upgrading your home, as long as you do not overcapitalise and spend above the ceiling price of the neighbourhood.
An outdoor addition such as a deck or swimming pool will increase the value of a home, and depending on the circumstances, between 65% and 90% of the cost could be recouped at sale. Apart from adding value to the property, an outdoor improvement will also add to the home’s overall buyer appeal, which might be the determining factor that pushes the deal in your favour.
Enjoyment and entertaining
Increasing the property’s value is a massive benefit to any home improvement. However, this only materialises when the property is sold. The immediate benefit is that once the project is complete, the home’s occupants will be able to use and enjoy the improved outdoor space. An outdoor area designed around your specific needs and preferences can optimise the space and act as an extension of the livable areas of the home.
Space to relax and de-stress
According to medical research spending time outdoors can help with alleviating stress, as well as improving one’s mood. A pleasant and accessible outdoor area can bring all the benefits of spending time in nature into the comfort of your home.
Potentially saving money and water
Adding functional outdoor features such as a low-maintenance deck or patio will reduce areas of lawn, saving water and lowering utility costs. Having an outdoor recreational area means that the family is likely to spend more time at home, which will also reduce entertainment costs.
Investing in your outdoor living spaces will not add to the home’s value financially, but it will also create a space for the whole family to relax and reconnect at the end of a hard day.
Author: RE/MAX SA