When it comes to renovating your home, choosing your projects carefully is key — at least if you want to ensure those projects are worth it.
While some upgrades may add to your home’s aesthetic or come with extra convenience or comfort, the truth is not all renovations are created equally — especially when it comes time to sell.
Want to make sure you get the most from your summer reno projects? Want a high ROI and returns on your investment when you list the home down the line? Here are the backyard items to tackle first:
- Add a wood deck. According to Realtor.com wood decks add about $9,000 to a home’s sale price. They’re also fairly low cost, too, requiring an investment of just under $11,000 to complete. Be sure to choose your wood and stain carefully, though, and keep in mind the weather and climate in your area. You may need to treat the wood to ensure it holds up to difficult or extreme conditions.
- Add a patio. If you don’t have one already, a patio can be a great way to up your home’s value when it comes time to sell. Realtor.com shows they add about $26,000 to the sales price. Though you could DIY this one, consider using a pro instead to really up the visual impact and added value.
- Add an outdoor dining or entertainment area. Make your yard the hub of neighborhood entertainment with a grill, pizza oven, or bar area. Fire pits can help you take your patio from day to night and add even more usefulness year-round.
- Install shade. Whether it’s via a simple, affordable awning or a full-scale wood pergola, some sort of shade is ideal if you’ve got a patio — particularly if you’re using it for entertaining, cooking, or dining. If you’re in a hot or particularly sunny climate, it’s non-negotiable — for safety’s sake.
- Low-maintenance landscaping. Consider professional landscaping using low-maintenance shrubs, perennials, and stone pathways. The less mowing, weeding, and watering future owners have to do, the more attractive the home will look from the get-go.
Pools can add value, but typically only underground ones in warmer climates. Be careful if you’re considering adding a hot tub or Jacuzzi to your backyard area. Many times, they actually detract from the overall look of the home or even devalue it.
Next week, we’re talking about the best renovations for your kitchen, so check back soon. Have questions in the meantime? Want to get pre-approved for your cashout refinance to cover your reno projects? Contact an Embrace loan officer today.