RIFO Home Improvement - Bigger Projects for this Summer

Last week, we discussed the benefits of a well-done landscaping job for your property and how, according to research, it can boost the value of your home. Consider that to be the basic upgrade for your home’s yard. Once you have your garden and lawn spruced up, you will be able to add other outdoor features to maximize property value and your enjoyment of its space even further. We have discussed pool installations and how they can increase property values in previous posts. Next week we will take a deeper “dive” into the subject by discussing the new innovations in pool designs and uses so we will skip over that today and focus on some other, larger-scale outdoor features that are perhaps less obvious. Last week we focused more on the landscape ideas that mostly pertained to plants, nature, and very small projects (such as lighting) that will add some more value to your home. This week we will focus on larger projects that will be the cherry on top once your base has been founded.

The first project that can be taken on is building a patio area. This can be up to your own vision and can range from a simple space for benches or chairs, to a proper well-appointed deck, patio, or gazebo. Decks or patios will be the foundation for further furnishing, such as a family dining area and barbecue. Whether tile patios or wooden decks are better for you all depends on preference and aesthetic desires. Generally speaking, according to Sunshine and Play, a deck will add a bit more to property value. They state that decks average 65-85% ROI and patios average 40-65%, showing that both are significant. They also remind us of course that there are factors besides simply the choice between a patio or deck that contribute to value, such as maintenance cost, installation, size, quality, materials, aesthetics, and more. Aesthetics does matter; it should blend in nicely with the general style of your home or else it will stick out like a sore thumb. In addition, while decks do offer more value in the long run, they do cost more than a patio, and as Sunshine & Play says, the cost of an average sized deck installation is around $14,000, compared to the average patio installation of between $4,000 and $8,000. Pure Home Improvements alerts homeowners that there may be building restrictions in place by the municipal government and that you may need a permit beforehand. Despite the apparent cons with decks, the resale value tends to outweigh the headaches.

Another idea is to add an outdoor kitchen. These include outdoor bars, pizza ovens, food prep stations, grills, and more. David Jackson from Active Rain states that the average cost for an outdoor kitchen is around $15,000. He also says that the ROI ranges from 55-200%, obviously depending on the quality and size of the space. The first thing that may come to mind is “what do I do in the winter,” especially considering Canadian winters can be around 6 months long. To prevent damage, perhaps creating a shed-like structure or a roof overhead would be worth it. Outdoor kitchens are increasing in popularity and more buyers are reporting desire for these features.

Finally, another popular idea is an outdoor fireplace or a firepit. Again, this is another yard feature that will add value to your home. It has been reported that firepits are becoming so increasingly popular that they are passing outdoor dining areas in popularity. In a study cited by Real Homes, 54% of real estate agents named firepits as the most desired yard feature in many areas of the USA, and increased desire is seen the farther North you are. Permanent outdoor fireplaces are the best option for maximizing value, however this is another project that may require a permit from your municipality. Permanent fireplaces are seen to yield 67% ROI on average according to Home Light. Again, this depends on many factors, such as size and quality, as well as whether the fireplace is permanent.

These outdoor features allow for homeowners to expand their homes outwards, even if you are unable to expand from the inside.