No two spaces are exactly alike. Having a custom designed outdoor addition for your home to enhance your family’s overall well-being will also offer a place to entertain guests. Looking beyond the health benefits, an outdoor living area is a benefit to your home’s bottom line.
Spaces for enjoying time outside everyday is at the top of home owner's wish list. Subsequently, outdoor living areas are a top priority for professionals in residential design. In another Cost verses Value report 11 out of 12 projects that had the greatest return on investment (ROI) were exterior home improvements. An outdoor living space averages 70 to 80% return, one of the biggest returns for the dollar to increase the value of a home. Creating year-round usable outdoor living spaces remained a top priority.
In a recent survey of New Home Trends in collaboration with industry professionals across the nation, including more than 300 pro architects, along with interior designers, realtors, and landscapers responded with their experiences, opinions, and predicted trends for the next three to five years. Outdoor entertaining and natural outdoor living spaces ranked in the top 10 list. Among those surveyed, 93% of those surveyed agreed that an outdoor space made a home stand out over another for resale, and 65% said it added between ten and thirty percent value to a home.
However, there are many other factors that came into play when considering cost verses value. Take for an example, an outdoor kitchen. In warmer climates such as in the southwest would have a higher ROI when comparing it to regions that experience colder climates.
It may be of interest to some, as it has also been our experience, of all the outdoor advantages, creating year-round usable space is at the top of the list.
There are several ways to increase your home’s value: