That said, it's estimated that well-designed patios not only add 8 to 10% of home value, but also generate an ROI of more than 80%. This can provide an ROI of nearly 500%. The simple addition of a patio is an obvious backyard upgrade to add value to your home. Whether you install outdoor tiles or pavers, sculpting even a small patio will allow you to create more space for outdoor living, which is now an intrinsic part of a happy home life.
The beauty of an outdoor fire pit is that it allows you to feel comfortable in your backyard when the weather turns cold or very cold. People are investing more in the back of their properties, and the home improvement boom is driving that engine. A University of Michigan study found that consumers value a landscaped house 11.3 percent more than the same house without good landscaping. A recent University of Michigan study showed that landscape updates increase property values by up to 11 percent.
This means that if you want to raise your home rates at your next assessment, the best thing you can do is go to the backyard.