With a smart strategy and your bottom line in mind, you can increase the value of your home by more than 10 percent with any one of these backyard renovations. And if you really want to boost the price of your home, keep reading to see what backyard renovation pays the biggest.
No. 1: Smart landscaping
Landscaping can be done for the least amount of money. In fact, most landscaping projects are do-it-yourself if you are handy. One study found that good landscaping can boost a home's value by more than 11 percent. Here are some smart landscaping ideas:
- Privacy hedges.
- Fruit trees.
- Stone pathways.
- Colorful winter plants.
Particularly if you live in the drought-prone Southwest, replacing natural grass or turf with stone or decomposed granite is a smart landscaping strategy. And don't forget the shade! Install a gazebo or pergola to offer a place to get out of the sun and relax.
No. 2: Indoors outdoors
The trend today is to move some of the indoors outdoors. One of the backyard improvements that offers the highest return is a backyard patio leading directly from the living room. French double doors or a grand sliding door that turns the living room and the patio into one large room will give you a great return for your money. Other indoor-outdoor ideas include:
- An outdoor kitchen.
- A backyard dining area.
- A backyard hot tub and shower.
Installing a full kitchen outside, depending on how grand you want to make it, makes your home more entertainment-ready. Buyers are willing to spend an extra $15,000 and up to $100,000 for a backyard studded out with these types of features.
No. 3: Stone patios instead of decks
Before, decks were all the rage. Today they take up too much space in your backyard. Instead, homeowners are tearing down their wood decks in exchange for flat, stone patios. Using crushed stone on your patio as well as your pathways gives your backyard a uniform, attractive feel. This improvement alone can add more than 12 percent to your home's value.
No. 4: Creative landscape lighting designs
Not only does creative landscape lighting design keep away intruders, it also enhances the overall appeal of your landscaping. Lights along stone pathways, decorative light poles around your patio and colorful lights reflecting off your backyard fountain or pool are all winning ideas for improving your home's value. Look for energy-efficient or solar-powered lighting options to save on energy costs and add more value to your home.
No. 5: Infinity edge in-ground pools
Finally, a typical in-ground swimming pool can cost as much as $75,000, but in some parts of the country buyers are loathe to take on the added expense of maintaining a pool in the winter months. However, if you live in states such as Florida or California, a home is expected to have a pool.
If you want to boost the return on your swimming pool investment, install an infinity edge pool. Whether or not you are selling your home, an infinity edge pool adds a level of sophistication and style to your backyard that few renovations can match.