However, as with any improvement, it's important to remember that the most sophisticated and outlandish improvements are unlikely to increase the value significantly more than the mid-range ones. The general rule is that outer space is worth between 25 and 50% of the interior space. So while outdoor space will add value to a home, it's not about apples and apples compared to indoor square feet. With more and more of us spending more time outdoors, it's no surprise that looking for ideas of privacy in the garden has become an obsession for many during the pandemic.
If your backyard has the potential for outdoor entertainment, creating the right space for it could mean big money for the next buyer. If other homes for sale in your area have pleasant outdoor living spaces, yours will also be more competitive if you do. Patios are a sought-after service for most homes, making them a valuable addition when it comes to selling a home quickly. There's a third way a new deck or patio can add value to your home, and that's during the sales process.
The fact that an extravagant patio costs a lot to finish doesn't always mean you'll get a profitable return when it comes time to sell. According to Inman, a leading real estate news source, patio extensions to homes (when done correctly) can generate a return on investment of between 30 and 60%. When homeowners invest in a cobblestone patio, they can expect extreme durability, minimal maintenance, and you've guessed that that adds value to your home. Even if that doesn't equal a specific dollar amount, adding to the overall landscape and curb appeal of your home could be what you need to attract a great buyer.
While concrete can be a durable material, there's something to be said about how it's installed in a patio project. For potential buyers who are interested in outdoor living spaces, the long lifespan of a cobblestone patio (and the subsequent costs this saves) can work as an additional selling point. Keep in mind that households in the Southwest and Southeast are more likely to earn higher yields compared to those in the Midwest, Northwest, or Northeast, since outdoor kitchens can be used more frequently in warmer climates.