How Outdoor Living Spaces Increase Home Value

Photo by Jason Boyd on Pexels

By guest author, Alison Hoover

Outdoor living spaces – think patio with a fire pit or an outdoor kitchen for entertaining – are great as gathering places for family and friends, but they can increase your home value leading to a higher sale price when you sell. 

Here’s how adding or improving outdoor living spaces can pay off for you now and later:

Higher Resale Value

Homes with well-appointed outdoor living spaces tend to sell faster and at higher prices compared to similar properties lacking such amenities. Outdoor living areas, such as decks and patios, can add $20,000 to the price of a home. 

An aesthetically pleasing and functional living area will almost certainly provide a strong return on investment (ROI). 

The only exception to this is a pool, but you’re here in Florida and  it’s nearly required. Almost 30% of Tampa-area homes have an in-ground pool, something buyers here are always looking for in their house hunt.

Increased Appeal

Outdoor living spaces also add tremendous intangible value in the way buyers assess your home. Well-designed and maintained outdoor areas increase the curb appeal (well, the backyard appeal in this case) of a home, attracting potential buyers. 

When would-be buyers see themselves kicking back under the stars that helps move the conversation from the open house to the closing table. 

Here’s why: Buyers are looking at homes that suit their basic needs for bedrooms, bathrooms, and overall living space, but an outdoor kitchen or a built-in fire pit is the sort of bonus that will separate one home from the myriad others. 

Outdoor spaces designed for entertainment or for relaxation will allow buyers to envision a desirable lifestyle. 

Extended Living Space

Outdoor living areas effectively extend the usable square footage of a home, providing additional space for unwinding after work, hosting parties, and open-air dining. 

To be sure your space appeals to most buyers, consider the functionality. Built-in fans and shade are important for all-day, year-round use. Mosquito misting systems will keep away those little buggers. 

Energy Efficiency and Sustainability

Less common but equally important, outdoor living spaces can have a large impact on the eco-friendliness of your home. Native landscaping and rainwater harvesting systems, for example, help conserve water, which will appeal to environmentally conscious buyers. 

Native plants also foster healthy ecology while minimizing maintenance. 

Furthermore, a space that relies on fresh breezes and natural sunlight allows you to enjoy your home without pulling on the electric grid. Energy-efficient lighting will also help keep the electric bill down, as will awnings that reduce the need for air conditioning. 

Benefits of Outdoor Living Spaces Now and Later

A beautiful, soothing outdoor living space will do wonders for you now and maybe when you sell. So what kind of outdoor living space are you thinking of? What’s the potential payoff now and down the road? It’s important to think about your market and what buyers are looking for. Of course, if you’re planning to stay in your home for a while, it’s equally important to plan a space that suits how you live your life.

If you’re looking for a new home in and around Spring Hill, The Hardy Team can help you find the perfect place with the ideal outdoor living space (with or without a pool). If you’re looking to sell in few years but want to enjoy your home now, we can help weigh your outdoor living space options so you get a high ROI at closing.

 Alison is a world traveler who loves to spend her time writing and reading. When she’s home, you can find her playing with her pet rabbit and baking.

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