select
|

Investing in your outdoor space can pay off

While kitchen and bathroom renovations are still the top places within the home to upgrade when it comes to homeowners wanting to improve the value of their property, more and more homeowners are now looking to the improve their outdoor living spaces as well, says Adrian Goslett, CEO of RE/MAX of Southern Africa.
 
“With summer in full swing, many homeowners have turned their attention to the outdoor living spaces of their property because of the benefits they provide  to their families. During the warmer months, most people find that they spend far more time outdoors, making it the ideal season to engage in a home improvement project that will maximise the enjoyment of these outdoor areas and add to the appeal of the home when wanting to sell,” says Goslett. 
 
He notes that there are several reasons why investing in the outdoor living area of your home could pay off in the long run:
 
Increased appeal and resale value

Goslett says that from a financial perspective, more often than not homeowners will be able to recoup a large portion of the money they spend on any addition or renovation when they decide to sell, provided that they have not renovated above the ceiling price in the neighbourhood. 

Outdoor additions such as a deck or a swimming pool, for example, will increase the value of the property and, depending on the circumstances, between 65% and 90% of the cost could be recouped at sale. “Not only will the outdoor improvements add value to the property financially, it will also add to the home’s appeal, which could be what the seller needs to oust the competition in today’s competitive real estate environment,” he says. “Buyers will like the fact that the home has pleasant outdoor features and spaces.”
 
Enjoyment and entertaining


While the increase property’s value is a huge benefit, this can only be realised if the property is sold. However, the immediate benefit is that the family will be able to make full use of the outdoor space and enjoy it. An outdoor area designed around a homeowner’s specific needs and preferences can optimise space and act as an extension of the liveable area of the home.
 
Relax and de-stress

Medical research studies suggest that spending time outdoors can assist with alleviating stress and can improve mood. “A pleasant and accessible outdoor area can bring all the benefits of spending time in nature into the comfort of your home,” adds Goslett.
 
Potential money and water saving

Goslett notes that the addition of elements such as a low-maintenance deck or patio will reduce areas of lawn that require watering, which in turn will lower utility costs. Having an outdoor recreational area means that the family is likely to spend more time at home, which will reduce also entertainment costs.
 
“The benefits to homeowners of investing in their outdoor living spaces can be reaped in many different ways,” says Goslett. “Not only can it add to the home’s value financially, it will also create a space for the whole family to relax and reconnect at the end of a hard day,” he concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK