What to know about outdoor living spaces
Home trends come and go. What was popular as recently as a decade ago may have lost some luster in the eyes of today’s homebuyers. Though that has historically been the case in regard to real estate, outdoor living rooms are one relatively recent home trend that figures to have a longer shelf life.
Real estate professionals and organizations such as the National Association of Home Builders note the popularity of outdoor living spaces among prospective homebuyers and how that popularity has grown in recent years. Outdoor living rooms not only appeal to potential buyers; they also serve as a means for current homeowners to get more out of their properties.
Homeowners mulling outdoor-living-space projects should consider various factors before deciding to go ahead with a project.
➤ Cost: The home renovation resource HomeAdvisor estimates that the average cost of an outdoor living space is around $7,600. That cost can easily go up, depending on where homeowners live and the features they want to have in their outdoor living spaces. For example, including a built-in fire pit in an outdoor living space will cost more than purchasing a stand-alone fire pit that can be picked up and moved. But many homeowners believe a built-in fire pit makes an outdoor living space even more special.
➤ Return on investment: Return on investment is another factor for homeowners to consider as they try to decide if they should install outdoor living spaces and how to design those areas. Much conflicting data about the ROI on outdoor kitchens can be found online, but many trusted real estate organizations report that such additions do not mesmerize prospective buyers.
➤ Space: An outdoor living space may only be as relaxing as the space allows. The proximity of neighbors may affect privacy levels, which can make it hard to enjoy a movie night outdoors or curl up to quietly read a book. In addition, landscaping may also need to be addressed if drainage is an issue in the backyard. That can add to the cost, and drainage concerns may limit the materials homeowners can work with.
Outdoor living spaces are popular. Homeowners must consider various factors before deciding if such spaces are for them.