Outdoor Space- Value vs. Cost
If you are thinking about putting in a pool, summer kitchen or new patio the cost isn’t the only thing to think about. Some outdoor improvements will add more value to your home than others. If you are planning on staying in your home for many years, the return on investment may not matter. If the addition means more quality time with family and friends, it is impossible to put a value on those experiences. The following average cost figures come from HomeAdvisor.com. You can go to their site and search their “True Cost Guide” by zip code to get a better idea of what people in your specific area have paid.
Swimming Pool: $28,258 Jacksonville Average
Things to think about:
Size, Maintenance Costs, Amount of use, If a pool make sense in your neighborhood.
*Pools often add less than the cost of installation to the value of the home.
Patio Installation: $2,291 Jacksonville Average
Things to think about:
The size, materials and design should make sense with the rest of your home.
* A properly executed patio can return 75-200% of the cost in additional home value.
Patio enclosure aka Florida Room: $16,525 Jacksonville Average
Things to think about:
Size (Sensing a trend?), Ceiling height, Roofing, Windows vs Screen.
* Additional usable outdoor space is always a plus. As with a regular patio, much of the cost can be made back in added value.
Outdoor Kitchen: $15,375 Jacksonville Average
Things to think about:
Not everyone has the same taste, you can over do it, materials must be weather tolerant, installation is very important.
*The return on investment has a lot to do with the price point of the house itself. A full outdoor kitchen with a pizza oven will not make sense in some houses, but a grill and seating area are great additions to any florida home.
With all of these the best way to insure maximum return on your investment is to use quality materials and have them professionally installed. You can almost always do it yourself for less money, but that doesn’t mean you should. The key is scale, any thing you do should add to the presence of the home. If you have any real estate related questions, please reach out to us.
