As a well known Realtor in Chattanooga I get asked all the time. Is a outdoor living space important to home buyers? The answer 100% of the time is yes
What do Home Buyers say is important to them?
According to the National Association Of Realtors who surveyed over 130,000 random home buyers last year here are a few of the things that rank highest on that list for them. I can say that when we are working with buyers in the Chattanooga area they do notice these features. They even start to discuss how they can entertain within these spaces. The thing that you need to realize is that most of these projects are adding value to your home not all. Some of these project will just help you sell your home a little faster and/or for top dollar.
What project should I do first?
The answer is the one that you can complete quickly and that is going to give you the best return. What is something was to happen and it is the only project act you can accomplish? Some projects are just considered maintenance by home buyers. You want to make sure that as you are doing these projects that you stay in line with what the rest of your neighborhood or area has as well. For example you don’t need a 2,000 square foot deck on a 1,500 square foot house. You are not going to recoup your cost of a $100,000 salt water pool on a $300,000 house. Just make wise decisions and consult a professional if you have any questions.
One of the hardest parts of my job is to sit down with a couple that is getting ready to list they house to sell and to look at the projects and tell them that they really have not improved the house but may have hurt their chances of selling fast for top dollar because their tastes are not what buyers are looking for.
Among the outdoor living space features that ranked highest on the Joy scale with home buyers in the survey was a well maintained lawn and upgraded and maintained landscaping, a new wood deck and new patio, a fire feature and irrigation and lighting.
What is the ROI on outdoor living space projects?
The good new for home owners that are thinking about selling this home this year is that most of these outdoor living space projects have from an 80%-260% return on investment (ROI)
Here is a link to the report mentioned above. In this report you will see what outdoor features give home buyers the most Joy as well as the average return on these projects.
If you are looking to sell your Chattanooga area home this year and have questions about if a new outdoor living space project will be good for your house then Contact Me Here.