It’s still summertime in NOLA — this means there’s still time to spruce up your outdoor living space. Did you know? Installing a patio that enhances your outside living area can increase the value of your home. According to the “Remodeling Impact Report” from the National Association of REALTORS®, you can recoup up to 70% of your costs on resale after building a brand-new patio. From pools to outdoor kitchens, the professionals at Satsuma, Realtors, LLC have compiled a list of fresh patio ideas to help inspire your design.
Create an outdoor kitchen and dining space
Let’s face it — you’ll want some kind of sitting area on your patio to sit and relax, chat with friends, fire up the grill, or host a crawfish boil! Outdoor kitchens typically get a 71% return on investment (ROI). Pro-tip: When planning your patio consider how many people will be using it to make sure the space will function well when you are hosting. To get the biggest return on your investment, you will want to ensure the outdoor kitchen space is truly functional and also matches your home’s style. Including outdoor refrigerators, sinks, and working areas will maximize the functionality.
Take a dip
The luxury of a pool is unmatched, and it will become the center of your parties, gatherings, and memories. However, it is important not to forget that the expenses of installing and maintaining a pool are incredibly high. Houselogic.com, which is run by the National Association of Realtors, reports that the average cost of installing, equipping, and filling a 600-square-foot concrete pool starts at $30,000. If you want something larger, the general rule of thumb is every square foot will cost at least $50 to install. In addition, the cost of upkeep, filtration, heating, and even insurance can really start adding up. So how do you know installing a pool is the right upgrade for your home?
Consider the other homes in your neighborhood. If most homes in the neighborhood have pools and yours does not, that may negatively impact the value of your home. If no other homes in your neighborhood have a pool it will stand out against the competition! In order to make the best judgement call, contact a real estate agent to run a free Comparable Market Analysis (CMA), as this will offer a more accurate and realistic value add estimate based on the market.
Bring some shade with a pergola
If you’re considering adding new features such as a TV or seating area, remember that our summers here in NOLA are nothing short of scorching. You can purchase an inexpensive umbrella online or from a local outdoor dealer, but if you want to splurge, invest in a pretty pergola. As of 2017, estimates put the ROI of adding a pergola to a patio or extended roof around 50%.
Don’t forget lighting
What’s the best way to make your outdoor space elegantly enjoyable after dark? Some beautiful lighting, that’s what! Edison-bulb string lights are a popular, affordable option. LED versions of these also exist to be more environmentally friendly. If your budget allows, invest in some layered lighting to add depth around your patio. Great lighting can also help with security and eliminate dark areas that might hide an intruder.
Add some warmth with a fireplace or fire pit
An easy win in terms of home resale value is adding a fire pit. Building a fire pit is an affordable addition to any backyard and creates a great space to gather with your family and friends. Most estimates see homeowners recouping 78% of the costs associated with building a fire pit, especially one that has natural gas running to it. S’mores, anyone?
A primo backyard can drastically improve your homes’ aesthetics and value. Ready to sell your NOLA home, want some advice on the best backyard addition, or just curious to see how your home stacks up on the local market? Contact our experienced agents at Satsuma, Realtors to get answers and to ensure you get the best price for your property.