It’s common knowledge that curb appeal adds resale value; a recent HomeLight survey found that buyers will pay 7% more for a home with an eye-catching exterior. And while painting the front door and replacing the mailbox are worthwhile improvements, the same attention should be paid to sprucing up the backyard.
While a complete return on investment isn’t guaranteed, a well-designed outdoor space can speed up your home sale and potentially fetch a higher price. The key is to avoid overspending and focus on improvements that add value and enjoyment, both financial and personal.
Want to spruce up your space and boost YOUR home’s appeal? Here are five backyard improvements that can add value to your property and make it the envy of the neighborhood:
1. Patios
There’s no better way to define an outdoor space than to install a patio. Whether you choose to lay down pavers or pour a concrete slab, a patio can be used for outdoor dining, lounging, or cooking. The cost recovery estimate of a new outdoor patio is 95%, according to the National Association of REALTORS®’ (NAR) 2023 Remodeling Impact Report: Outdoor Features.
2. Decks
Consider adding or replacing a deck to expand your usable outdoor space and boost your backyard’s value. According to Remodeling Magazine’s 2023 Cost vs. Value Report, a wood deck addition ($17,000) recoups 50% of its cost, while a composite deck addition
($23,500) recoups 40% of its cost.
Sam Barbieri, a top real estate agent in Chesapeake Beach, Maryland, says that today’s buyers value building materials that require little to no upkeep.
3. Outdoor kitchens
If you expect to stay in your home for a few years and enjoy outdoor entertaining, an outdoor kitchen could add significant value. According to NAR’s remodeling report, an outdoor kitchen recoups 100% of its cost when it comes time to sell. Consider adding an inset grill, a durable countertop, a prep sink, and a compact refrigerator. Don’t forget to add storage — and, if you really want to go all out, a built-in pizza oven.
4. Privacy fences
While less exciting than a high-end outdoor kitchen, a privacy fence provides several practical benefits. It can be used to define your property line, keep kids and pets safe, discourage looky-loos, and make your outdoor space more attractive.
5. Low-maintenance irrigation
If you want to save time, water, and potentially even some money on your summertime bills, installing an irrigation system can be a value-adding upgrade. According to NAR, this outdoor project boasts an 83% cost recovery. While we wouldn’t encourage you to
shell out $5,000 on a new system right before you sell, if you’re looking to add one anyway, it can be a hands-off way to keep your backyard looking lush.
And if you happen to run into someone — a friend or neighbor — who is looking for a trusted real estate agent, I hope you’ll feel comfortable giving them our names.
We're happy to return the favor. If you’re looking for a “home-related” professional, such as a contractor, give us a call at 858-675-9632. Chances are, we’ll know someone that we can recommend.
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