Spring is finally here! It’s a time of new beginnings, and a great chance to get a start on some of the home improvements you’ve been thinking about all winter. Luckily, a lot of the outdoor projects that will make your home more enjoyable and relaxing can also help to increase its value.
Let’s take a look at some of the warmer-weather upgrades you may want to consider:
1. Enhance your landscaping. A beautifully-landscaped yard will not only make your home more appealing to you and your visitors, but it can be a big plus for prospective buyers as well. According to TotalMortgage.com, attractive landscaping can increase your home’s value by as much as 12-15%. Just be sure to consider the necessary upkeep and maintenance of the plants you’ll be adding.
2. Install a lawn sprinkler system. Lawn irrigation and sprinkler systems are appealing to home buyers because they’re major time-savers and can help to increase watering efficiency. Let’s face it, it’s a lot easier to keep your grass green and your landscaping in tip-top shape when you don’t have to stand in your yard day after day with a garden hose!
3. Build a deck or patio. Decks and patios are great spaces for both relaxing and entertaining. Decks can be constructed using a variety of materials, including pressure-treated wood or composite materials. Options for patios range from natural flagstone to poured concrete. When designing your deck or patio, just be sure that it won’t take up too much of your backyard. You’ll still want enough available space to keep your children and pets happy, not to mention potential future buyers.
4. Freshen up the façade. Whether it’s splashing on a new coat of paint, replacing your front door, or installing new lighting, a little work can go a long way to improving your home’s curb appeal. Adding window shutters or flower boxes is an easy way to give your home a new look without a ton of effort. And pressure washing a dirty front porch or vinyl siding can do wonders for your home’s appearance.
5. Repair or replace the driveway. Your home’s driveway can be another way to add value to your home – if you do it right. Whether you’re looking to replace a gravel or dirt driveway with an asphalt one, or take things a step further with bricks, paving stones, or stamped concrete, a well-designed driveway can increase your home’s curb appeal and help it to sell faster.
One popular outdoor project that didn’t make our list is adding a swimming pool. That’s not to say that installing a pool in your backyard isn’t a good decision, because it very well may be. Whether a pool is right for you and your family will ultimately come down to your preferences, financial situation, and whether or not you plan to stay in your home long-term. Unlike some outdoor projects, adding a pool doesn’t typically increase your home’s value (an in-ground pool might, but probably not by very much). And there are many things to consider before you install a pool. For starters, having a pool can increase the cost of your homeowners insurance. There’s also the cost of upkeep, and someone will need to physically clean, maintain, and winterize the pool. Lastly, you should keep in mind that some buyers will be hesitant to purchase a home with a pool. So, if you’re planning to sell your home within the next few years, you may want to hold off on installing one.
No matter what outdoor home project is right for you, once you pick one you’ll need to determine how to pay for it. If you don’t have enough cash saved up, or if you don’t want to drain your savings, potential financing options could include taking out a personal loan, or tapping into your home’s equity via a home equity loan or a home equity line of credit (commonly referred to as a HELOC).
Whatever project you choose, we hope it brings pleasure – and value – to your home for years to come!