How Can a Patio Improve My Home’s Curb Appeal and Resale Potential?
Homeowners looking to boost property value often think of kitchens or bathrooms, but there’s another space that can make a huge difference – your patio.
Patio remodeling has become one of the most profitable areas of home improvement in recent years, particularly for homeowners seeking to increase their home value. Here at Tiger Patio, we transform outdoor spaces to improve your lifestyle and get the most ROI on remodeling. Here’s how a patio remodel done right can increase your home’s value.
The Growing Demand for Outdoor Living Spaces Like a Patio
Creating outdoor living spaces is now a huge real estate and home improvement trend. As more people stay home from work and school, there’s increased interest in the need for outdoor spaces that are functional and visually appealing. A beautiful patio can change a home, especially for barbeques, family gatherings or winding down after a long work day.
In fact, studies indicate that many prospective buyers now see outdoor space as a continuation of indoor living space. Buyers are not just interested in a place to live, but rather in homes for entertaining, relaxing and for outdoor enjoyment.
Remodeling your patio can increase your home’s appeal when it comes time to sell, giving your property a competitive advantage in our current market. A good outdoor area can even distinguish your property from the competition, allowing it to be sold more quickly and at a higher price.
The Financial Benefits of Patio Remodeling
Boost in Property Value
The most apparent of all advantages to a patio remodel is the direct boost to property value. A nice, well-kept patio can greatly increase the market selling price of your property. Patios add curb appeal and desirability because buyers tend to think of outdoor space as a priority.
Since the patio is generally considered an outdoor room, it’s like adding square footage to your house and most buyers will see it that way.
This “extra space” can heavily impact the value of a home. As of recent statistics, houses that include properly designed outdoor living spaces such as patios sell for 10-15% more than houses without them.
Higher ROI on Remodeling
Not every upgrade has the same home improvement ROI but. Nonetheless, outdoor living spaces have been found to generally offer a good return on investment ROI as well as other renovations. Depending on the size of your project, patio remodels average a return on investment of as much as 80%.
Which means, you are not only enhancing your life but you’re also being financially savvy.
Patios that incorporate premium materials and features such as built-in seating, outdoor kitchens and fire pits often have the highest return. These luxury outdoor amenities make a home sell for a higher price. In the current market, outdoor space is no longer an amenity but a feature.
Increased Curb Appeal
Your patio contributes significantly to the curb appeal of your home. Your patio is an important part of your home’s curb appeal because first impressions count. Beautiful patios give soul and character to your exterior spaces and make your home more attractive from the outside. If you intend to sell your home down the line this is important because a home with an attractive outdoor space will entice more eager buyers.
A well-done patio also contributes to the beauty of the house because it is the transition space between the interior and the exterior; it is the threshold that invites you in. Even if you have no intention of selling, the pleasure derived from your homes aesthetic upgrade can make the cost well worth it. And if you keep the space over the years it will still be pretty when it is time to sell.
Patio Investment for Long-Term Enjoyment
Some do-it-yourself projects are not financial investments. A patio renovation offers the ideal intersection of an improved quality of life with a home value increase. Picture yourself having an outdoor fire pit, or outdoor kitchen for entertaining, or simply a nice outdoor space to hang out in… These enhancements help with future resale appeal, but more importantly they will provide you and your family with years of enjoyment!
Remodeling your patio is an investment in your home and in your life. This functional space can also be the focal point of your social life when you want to invite friends over for parties or dinner, or simply to kick back and have a nice time outdoors under the stars. And when it comes time to sell, new buyers will see the potential for that space to be theirs as well.
Alignment with Real Estate Trends
In the real estate market, outdoor living has become a greater focus in recent years. Today’s potential buyers are also more concerned about uses of the space around the house. Be it for gardening, a secluded retreat, or an outdoor dining room, a well-planned patio does all that and more.
And as homeowners continue to see the value in functional outdoor space, patio remodeling is a trend that is here to stay in many houses. Being able to keep a pulse on these sorts of trends enables homeowners to ensure their property will attract a wide market when the time comes to sell it, which makes it a safe long-term investment.
