Investing Wisely: Backyard Renovations & Upgrades

Looking to transform your outdoor space? From adding a sunroom to mounting a large-scale landscaping expedition, there are numerous ways to liven up your outdoor living area. While enhancing the backyard could enrich family time spent outside — on top of increasing resale value — it can also be a costly mistake. Here is a brief look into certain backyard renovations you may wish to reconsider when investing in your family’s future.

To start, it’s important to remember that home upgrades — much like everything else in life — are a balancing act. While some typically add value, others might have you see very little return on investment (ROI). Another fact to remember is that style is subjective. What you see as an improvement, someone else may view as an inconvenience or maintenance hassle.

One upgrade a homeowner might love for themselves but may not pay off is an outdoor kitchen. While rising in popularity in some areas, creating a backyard galley to dine alfresco with the family comes at a cost. HomeAdvisor reports a starting price around $2,700 but can add up to $16,000. Whether this fun and functional addition is worth the investment depends on if the total value is justified by your expenditures.

Making the space your own can be an enjoyable adventure worth undertaking. However, before jumping in on the DIY home improvement game, be sure to research the best strategies to boost your home’s value. For more examples of costly backyard mistakes, please see the accompanying resource.

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