The value of outdoor space often gets overlooked when placed on the market for sale. Toronto often experiences long winters and when the snow finally melts and temperatures begin to rise, you start thinking about going outdoors. Most people wait until this time of the year to start thinking about what they will do with their outdoor space.
Whether it be a small yard or a large, private backyard, homeowners can take the opportunity to capitalize on their outdoor living space. All additions will give your space character and a chance to show your personality. Outdoor areas that have additions will make it more inviting, and will increase value to a buyer when placed on the market.
Below are 5 additions and renovations you can make to your outdoor living space to increase value:
1. Landscaping & Gardening – creating a relaxing, colourful natural space will add to the desirability of your home and often increase the value. Working with plants, stones, soils, grass, etc. will create a natural garden getaway for your summer BBQs.
2. Patio/Deck – This will give you a place to entertain in the warmer months and add greenery, to relax, and sit and enjoy the sunshine.
3. Fire Pit – You can spend a few hundred to get a nice brick ring fire pit or you can spend a few thousand to create a full luxurious fire pit lounge area. A nice area is more often considered extremely high demand among home buyers.
4. Lighting – The key to a functional entertaining space is good lighting. Couple this with solar lighting to create a comforting, ambient atmosphere.
5. Pool & Hot Tub – Adding a pool or hot tub is a great way to increase a home’s value. Adding this creates a natural element to your outdoor living area while also giving you more space to entertain.
It doesn’t really matter the size of the area, you can make a great impact with what you have available. While important to plan for areas inside the home, it is important to remember that in the summer months, the outdoor areas can increase the amount of your home you get to enjoy – and may prove to be a great return on investment! For some other great ideas to add to your backyard on a budget, check out this link.
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