If you need assistance, please call 416-917-6566

Backyard Makeover Tips To Increase Your Home's Resale Value

Tuesday, March 12, 2024   /   by Teresa Pileggi

Backyard Makeover Tips To Increase Your Home's Resale Value

Backyard Makeover Tips To Increase Your Home's Resale Value

When it is time to sell your Toronto home, a well-manicured garden is an appealing feature to potential home buyers. Your backyard is more than merely an outdoor space. It is an extension of your home's
living area and a key selling point in the property market. So, what backyard makeover tip can convince potential buyers to pay top dollar for your property?
As you scribble away your list of home improvement projects, it is crucial to understand what potential buyers are looking for. Put on a buyer's hat and inspect a hypothetical home to see what works
for you. Understand that not all backyard landscaping will flip a profit. But when done nicely, your home will likely sell faster and at a higher value.

Alternatively, you can seek a second opinion from a professional real estate agent. Agents have trained eyes to, first and foremost, tell if your property needs upgrades. Crucially, they know what buyers are looking for
and will recommend upgrades with the highest returns on investment (ROI) regarding property value appreciation. Either way, here's a rundown of thoughtful backyard makeover tips to increase your
home's resale value.

6 Backyard Improvements That Increase Property Value

Potential homeowners want to use backyards as extensions of their living rooms, kitchens, and even dining spaces. On average, a nicely landscaped backyard in a Toronto home can ramp up the price by
10%. That's an extra $120,000 on a $1,200,000 home. Essentials like a sound fence or patio will give your home a facelift and a magic look to curb appeal.
However, the top makeover tips that add value include:

1. Landscaping

The first tip to a stunning backyard makeover is to beautify your landscape. A blooming flower garden, a well-manicured lawn, strategically placed plants, and trimmed hedges represent an instant facelift to your backyard. Native, aesthetically pleasing, and easy-to-maintain plants are what buyers are looking for.

Besides, you can incorporate a vegetable or cutting garden into your landscape. Also, pay attention to the overall layout. Consider using decorative stones or mulch beds to define backyard pathways. This will elicit visual interest and increase your home's resale value.

2. A Deck or Patio

With millions worth of grills and barbecues sold yearly in Ontario, you'd be remiss not to have a designated outdoor dining spot in your home. That's where a deck or patio comes in. And a backyard is
the most conducive place to make this upgrade.
According to the 2018 Remodeling Impact Report, attaching a new cedar deck to your house at an estimated $10,000 will recoup 80% at resale. Similarly, the average patio costing $3,200 is likely to add
$3500 to the value of your home. That's according to a survey by Home Light's top agents.

3. A Fire Pit

A natural gas or propane fire pit is one of the hottest installations a Toronto homeowner can add. The beauty of an outdoor pit is that it keeps you comfortable in adverse weather. A nice fire pit can cost anywhere from $1000 to $6,000, and recoup 60 – 70% ROI at resale. As a homeowner, you enjoy the comfort and ambiance of a fire pit and recover considerable investment when you decide to sell.  

4. An Outdoor Kitchen

Outdoor cooking spaces have topped Remodeling Magazine's kitchen and bath trends list in recent years. That means they are a big draw for potential buyers, more so from the higher price range. An estimated $14,000 investment on an outdoor kitchen can recoup 71% at resale.
However, if your budget is big enough to incorporate specialty appliances like side burners, dishwashers, grills, and pizza ovens, the ROI will ramp up to 78%.

5. A Pergola

A pergola is another backyard improvement that can enhance your outdoor livable space and increase property value. This shade structure extends the functionality of your home into the back area by
having somewhere to sit and enjoy a cool summer breeze.
Depending on your budget, you can incorporate a roof or lighting enhancements to increase functionality. Furthermore, it is a place where homeowners can relax with family or entertain guests.
So, incorporate built-in seating such as weather-resistant outdoor furniture.
An outdoor pergola will undoubtedly increase your entertaining square footage. It is the sort of amenity that will create a sense of place in your, make it more desirable for potential buyers, and increase
property value because of the extra living space.

6. A Pool

During and after the COVID-19 pandemic, a pool is a significant investment and one of the most extensive backyard makeovers that can increase your home's resale value. A swimming pool symbolizes tranquility and luxury and, therefore, a big selling point in the property market. It keeps the kids active and busy throughout the summer break.
It can be standalone or sculpted with beautiful fountains or waterfalls to enhance the visual appeal of your backyard space. While at it, you can integrate elements like aquatic plants and lighting to infuse
serenity in your backyard. This makeover can do wonders for your home's resale value because pools appeal to luxury Toronto buyers who seek relaxing and tranquil environments.

The Bottom Line

A strategic backyard makeover and maintenance approach can significantly boost your home's resale value. A beautifully manicured backyard transforms your backyard space into a retreat and can pay dividends in the real estate market. From simple makeovers like landscaping to more expensive ones like pools, the key is to infuse depth and dimension into your backyard while enhancing
the overall value of your property.

  pileggi real estate team, sold guaranteed, trusted realtor, team toronto, sickkids foundation, sickkids hospital, investing, investor, buyers, buying, buying a home, evaluvation, housing market, selling, valuation, value, home value

Pileggi Real Estate Team - eXp Realty
Tom Pileggi, Broker
P.O. Box 1665
Holland Landing, ON L9N 1P2

Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated July 13, 2024
This site powered by CINC: www.cincpro.com