When choosing projects to upgrade your home’s exterior, there are numerous factors to take into consideration. You must consider how your upgrades will expand your family’s enjoyment, how the upgrades will benefit your home, and how the changes will increase your curb appeal.
But you should also consider how your outside project will affect your home’s price when it is time to sell. This increase or decrease is the return on your investment (ROI). Here are four great projects that offer amazing returns.
1. Outdoor Kitchens
Being able to share time with family and friends becomes much easier when you can host dinner parties in your outdoor kitchen. The costs can range anywhere from $5,500 to more than $22,000. An average cost is $13,000 but can increase depending on your materials and options.
Fortunately, outdoor kitchens can have a return on your investment of 100 to 200 percent. This return can depend on the value the buyer places on the bells and whistles you have added. While you should add the things you enjoy, know that these options may not be attractive to the next owner.
If you don’t necessarily want to add an outdoor kitchen, or you would like to extend your social space beyond your kitchen, consider adding a well-designed patio. Nice patio furniture, rugs, and lighting will create a patio that provides more seating and an entertaining area in your yard. Add an outdoor television or an outdoor TV enclosure, and you may not ever want to go back inside.
Patios can be a great place to unwind and will give you a great return on your investment. A new patio comes with an average price of $5,300, but you can look forward to an 80 percent return on that. If you have a space that you can remodel, you can reduce your costs and increase your return.
3. Fire Pits
Extend your outdoor season by having a nice fire pit to hang around. Building a fire pit can also be a great inexpensive way to add character to your yard. Your fire pit can also be a great place to roast wieners, marshmallows, or tell ghost stories.
While you can find inexpensive pre-made fire pits at big box stores, these are not always built to last. They will typically rust out in a couple of seasons. Viewed as temporary structures, they do not offer a return on your investment.
Consider hiring a contractor to build you a permanent structure using bricks or stones. A contractor knows how to build a structure that will last for years. This type of fire pit will also be viewed as a permanent structure and add to your home’s value.
The cost of your fire pit will depend on its size, materials, and labor costs in your area. The great news is, you can expect a return on your investment of approximately 80 percent.
4. Entry Doors
Does your home still have the same entry door it had when the contractor built your home years ago? Entry doors have become much more energy-efficient throughout the years.
If your home has an older door, not only will replacing it increase your curb appeal, but it may save you money in heating and cooling costs. Add this savings to a return on your investment of almost 75 percent, and your door will pay for itself.
While wood doors are beautiful, insulated steel doors are much more energy-efficient. You may be able to find a fiberglass door that will provide you with the look of wood but with much more energy efficiency.
Archer’s Exteriors would love to help you choose your exterior projects. We will be glad to offer you our professional opinion on the best way to increase your home’s curb appeal and get the best return on your investment. Give us a call today for a consultation.