Outdoor Living Spaces Increase Home Values

Whether you are living in your home or if you plan on selling it, an outdoor living area increases your home’s value. Real estate investor Scott Yancey estimates that homes with outdoor living areas increase home values by 5 to 15 percent.

Middle-income homeowners improve their outdoor living areas by building decks and patios. These structural elements are typically centered around hot tubs or fire pits. Homeowners with a green thumb, or those interested in sustainable lifestyles, can incorporate raised beds and edible garden boxes into their outdoor space. These garden elements require more care and attention than hardscape options, but gardens moderate temperatures during hot summer weather. Rain barrels and water features are other options as well.

The allure of outdoor living increases in the warmer weather, but outdoor heaters can make outdoor living practical throughout the year.

Yancey offers advice on improving outdoor living areas, and increasing home value, through affordable composite decking, lighting, hardscaping and plant boxes. Though Yancey gives some great practical tips on sprucing up outdoor living spaces, it’s worth noting what the rich and famous expect from their outdoor living spaces.

According to Forbes, luxurious homes include features like saltwater pools, outdoor kitchens and docks. Urban luxury homes boast amenities like terraces with built-in pools.

For homeowners at the upper end of the income spectrum, outdoor living spaces increases home value. For average income people, outdoor living spaces bring value to the property but also create value when it comes to quality of life.

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