Outdoor living has been gaining popularity over the years, and the trend shows no sign of slowing down. Homeowners are investing more time and resources into creating the perfect outdoor oasis. The focus has shifted from basic patios and decks to more elaborate, covered outdoor living spaces. These spaces not only enhance lifestyle but can have a significant impact on property value. In this article, we help you understand the impact of covered outdoor living spaces on property value by showcasing different structures, amenities, and materials.
Impact on Home Value
Covered outdoor living spaces can have a profound impact on a property’s value. They provide additional usable space that can function as an extension of the indoor living area. This additional square footage – when done correctly – can add significant value. A well-designed and built covered outdoor living space can yield a return on investment (ROI) of 60-80%, according to some real estate and landscaping professionals.
Structures and Their Impact
The type of structure you choose for your covered outdoor living space can play a significant role in how much value is added to your property. Pergolas, cabanas, and verandas are popular choices, each offering different levels of coverage, privacy, and aesthetic appeal. When these structures are designed and built using high-quality materials that complement the existing architecture of the home, they can significantly increase property value.
Amenities: Luxury at Your Doorstep
Inclusion of luxurious amenities can turn your covered outdoor space into a veritable outdoor living room. Amenities such as outdoor kitchens, fireplaces, built-in seating, and state-of-the-art sound systems not only make the space more enjoyable to use but also make it more attractive to potential buyers, increasing its market value.
Material Choices: Durability and Aesthetics
The materials used in constructing your covered outdoor living space can also influence its added value. High-quality, durable materials that are low maintenance and withstand the elements can increase the lifespan of your outdoor space, adding to the overall value of your property. The aesthetic appeal of these materials, their harmony with your home’s existing design, and their perceived value in the real estate market can all impact the value added to your home.
Investing in a covered outdoor living space can significantly increase the value of your property, while providing an enjoyable space for relaxation and entertainment. By selecting the right structure, incorporating luxurious amenities, and using high-quality materials, homeowners can ensure that they receive a substantial return on their investment. Not to mention, they get to enjoy their own personal oasis in the meantime.
Are you considering adding a covered outdoor living space to your property? Contact the experts at BPI Outdoor Living. Our team of landscape architects and skilled artisans can guide you through the process, from design to construction, to create a space that adds value and beauty to your home.