Now that Spring is officially here, many homeowners will be spending more times outdoors. In today's real estate market, in fact, expanding your living area beyond the walls of your home is a great way to increase square footage and, more importantly, increase your home's value.
"When so many are cutting back on expensive vacations, an inviting outdoor area often provides a welcome escape from the challenges of today's hectic lifestyles," says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. From small improvements to major remodels, some of the increasingly popular and creative ways homeowners are revamping their outdoor space, include:
• Extending a lanai
• Screening in a porch
• Adding a wet bar or an outdoor family room; water resistant fabrics for outdoor furniture are now available in a wealth of styles.
• Installing an outdoor kitchen – in fact, many manufacturers, such as Viking, Weber and GE are meeting the demand by offering commercial grade appliances for outdoor use. Many outdoor kitchens have small cabinets with under-counter refrigerators and some include sinks.
• Building cabanas and/or a pool house in pool areas
• Installing home theater accessories, such as projection screens for viewing movies outdoors
• Adding an outdoor fireplace
Ray also recommends "remodeling" your landscaping, as well. "A well-maintained and landscaped yard not only adds important curb appeal to your home, it increases your home's value," Ray explains. In fact, according to a Clemson University study, landscaping can result in more than a 100% return on investment.
Work with an experienced real estate professional to get a better understanding of what outdoor improvements and remodels will yield the highest return on your investment. But most importantly, says Ray, turn your outdoor space into a place to enjoy with family and friends. "Your yard should be an extension of your home -- a sanctuary and a treasured gathering spot to enjoy year after year."
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