These outdoor upgrades will benefit both your backyard and your bank account
Hardscaping is a great way to increase the value and enjoyment of your home.
Adding a fire pit will give you about 67%–80% ROI.
Decks and patios increase your living space.
A new deck can cost between $5,000 and $10,000 to build and net you an ROI of over 70%.
Hardscaping can be a good way to add value to your home, both in the way you enjoy your outdoor spaces and in the equity it adds to your property. However, not all hardscape projects are created equal. Some of these designs will definitely get you more bang for your…brick. Before you break ground, check out this list of hardscape projects that will net you the biggest return on your investment (ROI).
Hardscaping is any outdoor landscaping feature that is both hard and moveable. It encompasses several different elements of your yard—including pavers, retaining walls, and even wood arbors—but for the purpose of this article we’re going to stick to stone-based projects.
Adding a patio or deck to your property not only makes your yard look nice, but it increases the liveable spaces around your home. Think about it this way: A brick paver patio can instantly become a dining room when you add a table and some chairs or an extension of your living room with some cozy outdoor furniture and a fire pit. This makes your home more appealing to potential buyers, which raises the value.
You can expect to get 20% to 30% of your investment back when you choose the right hardscaping project. For example, say you’re going to add a $10,000 paver patio to your backyard. You can expect that patio to increase your home’s value by $2,000 to $3,000 when it comes time to sell or refinance. Considering hardscaping projects costs run anywhere from $300 to $30,000, you could be looking at a wide range of values.
Here are five hardscape features that you can enjoy while they add value to your home.
Adding decking or a patio right off of one of the exits of your home can really allow your interior living spaces to flow into the great outdoors. Homeowners can expect around a 72% ROI when they add a deck onto their property and more than 80% for a patio. Decks can cost between $5,000 and $10,000, so you could be looking at between $3,575 and $7,150 in equity. Obtaining an estimate from multiple hardscape contractors near you can help you compare materials, services, and designs before moving forward.
There are few things as great as grilling up dinner while standing out in the fresh air. An outdoor kitchen lets you cook a delicious dinner outdoors while still having all of those great indoor amenities. You’ll pay a pretty penny to get your master (outdoor) chef station set up—between $22,000 and $100,000 on average—but with an estimated ROI of 55%, you’ll be laughing all the way to the bank. Or at least, all the way back to the supermarket so you can buy more burgers.
It can be hard to enjoy your outdoor spaces if you have to limit your use to daylight hours, which is why outdoor lighting has several benefits. You might have to spend between $2,000 and $4,500 to do it right (and to do it right you’ll need a qualified local electrician to help you out), but you’ll see about half of that back someday.
A good fence can do two things: Keep kids and pets in while keeping unwelcome visitors out. It offers your home an added layer of protection while also giving your family a little bit more freedom to move around your yard. That’s why they are such great investments. You’ll be looking at between 50% and 70% ROI for your fence, depending on the materials you use. On average, the cost to install a fence runs between $1,500 and $8,000.
Being able to step outside after a long day and relax around a fire pit may sound like it would be worth its weight in gold, but it’s actually worth a bit more than that. Fire pits yield around 67% to 80% ROI based on the average cost to add a fire pit to your yard, which is between $300 to $1,400.
