How Much Do Patios Add to Your Home’s Value?

Written by Davel Construction On July 5, 2021
modern gazebo in backyard

Before you sell your home, should you add a patio? Or, if you are thinking of creating a patio space for yourself, should you expect it to help your home fetch a higher price? The specifics of how your patio will affect your home’s value depend on your exact home, the neighbourhood it’s in, and the buyers who are interested in it. However, there are some things you can predict about how a patio can help you sell your home for more money.

Patios and Home Value

The Remodeling Cost vs Value Report for 2020 found that a deck addition recuperates a high percentage of its value, at 72%. That means that 72% of the money you spend on a deck will, on average, be returned to you in home value.

If that doesn’t sound like a lot, consider that it’s more than a roof replacement, a midrange bathroom model, and a major midrange kitchen remodel.

Why do patio and deck additions add value back to your home? Buyers like the additional entertaining and living space. The backyard is more practical, and they won’t have to worry about making their own renovations to the space. Most of the time, adding a patio or deck is far less invasive than other types of home renovations, which every homeowner loves.

Buyer Interest and Stand Out Features

Every home needs a wow-factor or a standout space to peak buyer’s interest and encourage them to make an offer on the house. There are plenty of great ways to accomplish that with the patio. You can add major features to your new patio that will make a buyer’s experience in their new backyard great. Here are some options:

  • Fire pits: Elaborate fire pits with plenty of seating are a great feature to add not only because they are a great entertaining space but also because they extend the season of the outdoor space, making it more useful for buyers.
  • Outdoor kitchens: An outdoor kitchen is a wildly popular space that lets those who love entertaining, cook while they talk with friends. It’s convenient and can add a ton of value to your home.
  • Pergolas: Adding a rooftop to your outdoor space is a great idea. It creates a more sheltered and therefore more functional space that enables you to add more furniture and other features. Some great options include a sofa, a bar, or a fireplace.

Want to add more value to your home? Not sure where to start? No need to worry. At Davel Construction, our team is here to help! Give us a call today!

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Beautiful outdoor fireplace

Which should you choose? It’s a good idea to talk to a local real estate agent and discover what buyers in your area are looking for. The better you can cater to their interests, the higher the price you are likely to get for your home.

Thinking about adding more value to your home? By adding a great patio space, your home could be worth more. To learn more, contact our team at Davel Construction today.

Sources:

https://www.davel.ca/

https://www.homelight.com/blog/does-a-patio-increase-home-value/

https://turnbullmasonry.com/much-value-patio-add-home/

https://www.hgtv.com/lifestyle/real-estate/maximum-value-outdoor-living-projects-patio

https://www.extraspace.com/blog/home-organization/diy-projects/outdoor-living-space-features-boost-home-value/