Does An Outdoor Patio Add Value To Your Home?
Lifestyle

Does an outdoor patio add value to your home?

Contrary to popular belief, adding many renovations to your home won’t give you the added resale value of your home. In most cases, implementing a renovation for pools, sunrooms, or even more bathrooms might have the underwhelming effect of making your home more valuable than you may have been led to believe.

In this article, we will be discussing the value that adding a pool deck or outside patio furniture adds to your home. For quite a few renovations, the resale value will actually decrease. This can be specifically due to what a future homeowner wants and is willing to pay for their new home. It is important to hone in on the numbers if you’re considering any kind of home renovation for added resale, and this includes your outdoor patio.

Let’s delve into the numbers of how exactly adding an outdoor patio can affect your home’s resale value.

How Much Resale Value Does Adding a Deck to Your Home Give You?

To quickly address the topic. Implementing an outdoor patio with good-quality outdoor patio furniture can and will raise your home’s resale value. In fact, adding an outdoor patio to your home will be beneficial given that your outdoor patio furniture is up to standard and makes a good addition to the living space as a whole. Having an outdoor patio raises the resale value of your home by a minimum of 76%, and when compared to other types of renovations, the outdoor patio is the most effective home renovation at keeping this metric high.

If you can renovate an outdoor patio for around ten thousand dollars ($10,000), then your resale value will increase of seven thousand and six hundred dollars ($7,600)
The only deciding factors that can determine an outdoor patio’s resale value are factors like the climate. If the climate is typically too cold to host or enjoy the weather outside, an outdoor patio will not do much for your home’s resale value.

The exact amount of added resale value of outdoor patio furniture is derived from the owner’s choice of outdoor patio furniture to furnish the living space with. The higher the quality of the outdoor patio furniture, the higher the resale value of your home. Outdoor patio furniture that is typically made of wooden materials typically has the highest rates of added resale value to your home since the demand for the aesthetic in the market is higher than most other alternative materials.

What value does an outdoor patio add to your home?

Generally, on the market, it is expected for a homeowner to see a return on their investment of 100% when adding an outdoor patio to their space. Building and furnishing your outdoor patio requires less investment than making an entire deck from scratch. With such great returns on investments when making an outdoor patio, it is no wonder that many homeowners look to this renovation specifically.

By keeping your outdoor patio renovation simple and effective without the introduction of costly or unnecessary implementations, you’ll be sure to not lose out when it comes time to sell. Keep your designs simple and effective, and be sure not to clutter up the area of the patio with expensive toys or gadgets.

The demand for ample amounts of room and space in the backyard is more important in the market than a big outdoor patio. Keeping your outdoor patio in line with market demands will also aid you in being able to get back your investment with this renovation. Keep the investment costs low by opting for concrete landscaping. Other landscaping material alternatives include brick, tile, hardwood, and flagstones. Also, be on the lookout for any possible outdoor lighting opportunities, as this maximizes outdoor patio use and efficiency.

What’s the Resale Value of Covered Patios?

Covered patios are a very versatile renovation for a home. They offer opportunities for BBQ’s, summer get-togethers, and endless amounts of fun. Covered patios even have the benefit of keeping the party going in rainy weather. However, having a covered patio adds resale value to your property. These are the details you’re after.

Simply put, absolutely. Covered patios can and will add resale value to your property for a variety of reasons. The most important thing is that it is in very high demand for those seeking to purchase a home. It’s a great way to make sure you get back your investments and spike up that sale cost that much more on your home. In making sure that your investment is fully returned, like with the uncovered outdoor patios, don’t look at spending too much on unnecessary utilities or attachments. Stick to the lower-cost, quality alternatives that are affordable and still carry that “umph” in design.

If you are not quite as concerned about seeing the return on your investment in your outdoor covered patio furniture, then it would be best to go all out with your design, as this is one home renovation that sticks around for years for you to enjoy.

Deck Vs. Outdoor Patio What’s Easier?

When debating whether to add a deck or any kind or outdoor patio to your home for resale value, an outdoor patio wins the cake in terms of the bang for your buck in these two investments. However, the difference is considerably small enough for you to choose which renovation you would prefer; it would be up to your preference. If the bottom line isn’t so much of a worry for you, then we should take a look at another fact in the industry: which is easier to put together, a deck or an outdoor patio?

Outdoor patios are easier to build than a deck for your home’s outdoor living space. It essentially boils down to some minute landscaping work. For instance, once you lay down the concrete in the specific surface area of your backyard and let it dry, you’re essentially ready to start furnishing the area with outdoor patio furniture. While installing an outdoor patio will require some prep work on the homeowner’s side, there are far fewer aspects to worry about compared to renovating or installing a deck for your home. In this regard, an outdoor patio is the cheaper alternative, along with a higher guarantee for resale value.

On the other hand, a deck will require a bit more extensive planning and preparation for its installation. Decks can be manufactured to fit on whatever terrain permits a stable foundation. This can be sloped or flat ground. Decks are typically built with a support system, allowing them to hold up in harsh weather conditions. They are stable and make for a great setting and view.

Deck Sizes & Permits

Another consideration when building a deck is whether or not you’ll need a permit. A permit is required if your deck will be attached to the house or is 30 inches above grade. However, a few types of decks don’t require a permit. A permit isn’t necessary for those that are freestanding, less than 30 inches above grade, or smaller than 200 square feet. Essentially, a deck can be 199 square feet before requiring a permit.

Before you go ahead and install a deck in your home, there is one factor you will need to be aware of when considering its size. Decks larger than or equal to 200 square feet will require the homeowner to obtain a permit. Moreover, any deck that is 30 inches above grade or attached to the home will require a permit. On the other hand, if the deck is referred to as “freestanding” or less than 30 inches above grade, then the permit is unnecessary for the homeowner to obtain for installation. To find out whether or not these basic requirements apply to your home and future deck installation, you can research deck permit requirements for your area. The necessity for deck permits can vary by state.

Deck Permits and Taxes What You Should Know

While it is true that either an outdoor patio or deck will increase the resale value of your home, the topic of whether or not your deck will increase your taxes may vary.
Typically, any renovation that can be done to a house, let alone a renovation that increases the resale value, will undoubtedly increase the homeowner’s taxes. To be sure whether or not your renovation fits in this category, it would be recommended to reach out to the proper specialists that can break down the numbers for you. The rates can vary city by city.

Generally speaking, the increase in taxes will not be a significant takeaway from the resale value you accumulate come selling day, so its not enough of a barrier to dissuade many homeowners from renovating. However, it is recommended to be transparent with the numbers, yet these are investments that last a long time and provide you and your family and friends with many great memories, so more often than not, they are greatly worth the time and effort.

What Provides More Value to a Home: Outdoor Patio or Deck?

Either one of these two options is a great candidate for the list of renovations you can use to renovate your home. Both a deck and an outdoor patio will increase the resale value of your home considerably. The most profitable in this case would be the outdoor patio along with the quality outdoor patio furniture. The resale value return on these investments for most homeowners is 100%, so the money automatically comes back and then some, depending on the condition of the home.

Paired with the easier installation, an outdoor patio saves money and gives money back to the homeowner for keeping things tidy. The most profitable outdoor patio is one with concrete landscaping, which is one of the cheaper alternatives yet boasts impressive quality while keeping the resale value high.

On another less financially inclined note,. When deciding between either of these great renovations to add to your home, the mark any homeowner should be shooting for is the ability to break even on their investments, and either of these renovations can and will allow you to do that. Decide by what attracts you the most between a deck or an outside patio; both are fun projects and provide similar experiences at the end of the day.

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