How Much Value Does a Nice Backyard Add?
A nice backyard is not only for good looks, but it can also add value to your property. Today, more people value a suitable and beautiful outdoor space. If you’re planning some home improvements, your yard is an excellent place to start. But first, how much value does a nice backyard add to your home?
A Beautiful Backyard Can Add Much Value
So how much value does a nice backyard add? It depends on a lot of factors. However, most backyard home improvements can have high return on investment values (ROI). Some may add as much as 70% of the total investment. Likewise, some projects might seem like excellent additions, but they won’t add as much value as the others.
With many projects to choose from, it can be challenging to choose the right ones. After all, not all can give the same returns on investments. So here are some of the common backyard home improvements, along with how much they’ll add to your home’s value.
Gardening and Landscaping – A beautiful backyard is not complete without a well-maintained garden. According to experts, a garden can add as much as 20% to your home’s value. For a £300,000 house, that’s an additional £60,000. With that said, you’ll need a carefully-planned design to make it work. You don’t need to spend thousands on flowers and plants, as simpler ones are easier to sell. The truth is, elaborate and upscale gardening and landscaping may do the opposite of what you’re trying to achieve. Go for low-maintenance gardens, as potential buyers may be discouraged by high-maintenance gardens with expensive upkeep costs. When designing the backyard, make sure that it creates a cohesive and matching look with your home. Of course, maintaining the lawn, mowing, de-weeding, and keeping it neat, is as essential as well. You can also find alternatives to grass lawns, such as concrete pavements and artificial turf.
Adding a Decking – Many people value not only a beautiful backyard but also a suitable outdoor living space. Because of this, adding a deck is one of the best ways to increase curb appeal, and add value to your home. How much does it add value to your home? It depends. A common wood deck has the lowest cost and can usually add the most value. Unfortunately, they are high-maintenance and short lived, and many people are starting to look for other options. The truth is, it’s not the best choice if you’re not going to sell the house right after the deck’s constructions. Meanwhile, composite decking boards are becoming more popular due to their longevity, low-maintenance, and durability. They might be more expensive, but they can still add 60% to 70% value of the total investment cost.
Tree Planting – Planting trees are some of the most effective ways of increasing value to your home. Maintaining them, including adding fertilizers, regular spraying, pruning, and trimming, is also necessary. Most of the time, you’ll recover 100% of your investment from the project. Most potential buyers value the beauty and aesthetics of trees. And that’s not all. Planting trees, especially tall and shady ones, can significantly lower your cooling bills. Fruit-bearing trees also give you fruits you can enjoy. There’s no reason to not add a tree to your home. When choosing a tree to plant, it’s best to stick with easy-to-maintain trees for desirability.
Outdoor Kitchens and Dining Areas- Another excellent project for your backyard is an outdoor kitchen and dining area. According to experts, you can recoup at least 70% of your total investments when building an outdoor kitchen space. However, to maximize returns, make sure to keep it simple and not overspend. You can also install a pergola complete with dining tables and chairs for at least 55% returns on your investment.
Firepits – A firepit can provide not only enjoyment, but it can also add value to your home. Adding an outdoor firepit returns as much as 67% of your investment, or more depending on its design and construction. Despite what most people think, you don’t need to spend thousands on a firepit. There are even excellent DIYs that you can try on the internet.
Swimming Pools – Swimming pools are seen as a luxury. Most people think they add value, but most of the time they don’t. They’re particularly a deal-breaker, especially for families with kids, as they can be a safety hazard. Potential buyers may also consider the long hours of upkeep and high maintenance costs. The truth is, it can only add 5% to 8% value to your home. Not much, considering how much money and time it takes to build them.
Other Things to Remember
All of these values are only estimates. The total value a project adds may change depending on many factors, such as the materials you’ll be using. For instance, using composite decking materials is more expensive, but it can still give you high returns. When improving your backyard, it’s best to plan your funding and estimate your returns. Make sure that you’re getting the most out of your budget.
When choosing which backyard addition you can add, you can consider what’s in-demand in your area. For instance, while it doesn’t add much value, a swimming pool will be worth considering on a house where surrounding neighbours all have one. Trends also change and can affect the appeal of your backyard projects. If you want to know more about the trends and sought-after additions, you may need to consult a specialist.
