Summer is all about the outdoor life, and what’s better than enjoying the great outdoors while remaining in the comfort of your own home? Outdoor living improvements are a growing trend that can add to overall quality of life, but your home is also a financial investment, and not all projects are created equal.
To balance these needs, the National Association of Realtors® examined outdoor home improvements and rated them on both ROI and a Joy Scale of one to 10 — the amount of happiness homeowners reported after completing a project. Here’s an overview of improvements you can enjoy now … and feel good about when it’s time to sell.
1. Standard lawn care service.
With a whopping ROI of 217%, this is the closest thing there is to a no-brainer in terms of cost. The project is based on six seasonal applications of fertilizer and/or weed control on a 5,000-square-foot lawn. Buyers love the look of a beautiful lawn, and you’ll love spending time outside on a lawn you don’t have to weed.
ROI: 217% | Joy Score: 9.4
2. Landscape maintenance.
As with lawn care, this is a task you can justify handing off to a professional if you don’t enjoy it. This includes mowing, pruning, applying mulch annually, and planting approximately 60 perennials or annuals. If you do love the feel of your hands in the soil, though, don’t hand this one off. Remember … this is about your joy, and many people delight in their green thumb.
ROI: 104% | Joy Score: 9.6
3. Landscape upgrade.
This is another outdoor task where some people enjoy the results more than the process. Additionally, a professional landscaper can better tailor plants for your yard space and climate, which could reduce the need for watering and upkeep. Your cost will vary based on the scope of your project, but this example is based on installing a natural flagstone walkway, adding two stone planters, and planting five flowering shrubs and one 15-foot-tall deciduous tree.
ROI: 100% | Joy Score: 9.7
4. Outdoor kitchen.
Grilling has long been a favorite warm-weather activity, and with an outdoor kitchen, you can go way beyond hot dogs. Picture: an inset grill, stainless steel drawers, an ice chest, a sink, and a concrete countertop, all finished with veneered masonry stone. Imagine hosting a breakfast party in your backyard, or being able to whip up rice and beans while tending to fajitas. Those are next-level cookouts!
ROI: 100% | Joy Score: 9.0
5. New patio.
What’s the point of a pristine lawn, gorgeous landscaping, and al fresco cooking without a space to enjoy it all? Envision your yard transformed by the installation of a backyard concrete paver patio to support your outdoor furniture and dining set. With a near-perfect joy score and a near-break-even investment scenario, this is the backyard improvement anyone can get behind.
ROI: 95% | Joy Score: 9.9
What About Pools?
This is the big dream for anyone who has ever fought for space at a community pool, but there’s a tradeoff here between joy and money. While an in-ground pool addition scores a perfect 10 on the joy scale, you shouldn’t expect to earn back more than 56% of the project’s cost. That’s based on the installation of an 18-foot by 36-foot in-ground gunite pool. Think about how much you’ll really use a pool and whether you want to spend time on its maintenance before diving in on this project.
ROI: 56% | Joy Score: 10
Paying for Big-Ticket Improvements
While some of these improvements may fit comfortably in your monthly budget, others take more of a financial investment. If that’s the case, talk to your home loan professional to see if tapping your home equity makes sense.
Source: National Association of Realtors® (NAR), 2023 Remodeling Impact Report: Outdoor Features.
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