Preparing your home for a sale can be a bit overwhelming. The project possibilities are endless: kitchen remodel, siding replacement, roof replacement—the list goes on.
Though it varies by location and climate, calculated return on investment (ROI) of home improvement can help homeowners decide which projects to prioritize.
Since 2012, the popularity of outdoor living spaces has increased 72 percent among homeowners, making hardscaping a top contender for best ROI. A 2014 study by RealEstate.com, a fully hardscaped and landscaped property in the lead of with a massive 150 percent return while other sources have more modest estimations.
According to Zillow.com, the average ROI of other common home improvement projects include:
Replacing entryway doors: 85-100% ROI
Siding replacements: 70-80 % ROI
Minor kitchen remodel: 70-80% ROI
Window replacement: 68-78% ROI
Roof replacement: 60-70% ROI
Bathroom remodel: 60-70% ROI
Maybe it’s because we spend an average of 10 hours per day in front of a screen, but Americans are itching to expand their liveable space outdoors, free from the distractions of technology.
If you’ve been forsaking your yard for interior projects, maybe it’s time to head outside. Increase your home’s value, curb appeal, and functional space with these 4 hardscaping projects with the best ROI.
#4 Outdoor Fireplace
Outdoor fireplaces, firepits, and other fire elements can really warm up potential buyers. Creating an outdoor location for conversation increases a homeowner’s ability to entertain guests and host through chilly seasons. It’s like building another living room without the walls.
#3 Walkways & Driveways
Carving out well-designed walkways around your home can turn unusable acreage into liveable area. Walkways are your connection to the outdoors, encouraging you to use your yard as an extension of your home rather than an addition. Especially during the winter months, weather-proofed walkways and driveways improve quality of life.
According to HouseLogic, the addition of a patio increases 82 percent of homeowners’ desire to stay home. Patios are also great tools for helping potential buyers see themselves using the space. NAR estimates that patios recover about 102 percent of their cost during a sale.
#1 Outdoor Kitchen
Though warmer climates tend to boast a greater ROI, outdoor kitchens across the nation reportedly return 100% to 200% of the improvement cost. Now that’s cooking with gas.
Having the option to cook and host completely outdoors is a highly-desireable experience for Americans who are cooking at home more. Perhaps an outdoor kitchen could recoup costs from restaurant and bar tabs alone.