Talk to any real estate agent, and they’ll tell you that increasing curb appeal is a tried-and-true way to increase your perceived home value (and can lead to a faster sale)! Currently, homeowners in 2022 are all-in on home improvement projects- for curb appeal and for their own enjoyment. Even though the housing market is in the midst of a downturn, Home Depot and Lowes aren’t feeling the pain. The CFO of Home Depot calls this an “improvement in place” mentality where homeowners that would have been looking for a new home are instead choosing to improve their existing one. No matter your motivations for building a patio cover, whether in a downturn or upturn of the housing market, it can provide increased home value and more comfort before you sell your home. Let’s look at just how much you can expect to raise your home value with a patio cover.
Does a Patio Cover Increase Your Home Value?
Yes, adding a patio cover to your home can increase your home value! Patio covers have become increasingly popular in societies that spend more time at home. After the COVID pandemic in 2020, US Americans spend an average of 62% of their waking hours at home (compared to 50% in 2019). With remote and hybrid work on the rise, homebuyers now prioritize green outdoor space more than in prior years. Curb appeal isn’t a new concept, but with more time spent at home, homebuyers are even more eager to purchase attractive homes with posh features.
So just how much can you expect to have your home value increase with the addition of a patio cover? There’s no set ROI, but realtors have provided various estimates. Wheaton/Wass Real Estate says, “A safe gauge for a backyard improvement or deck is about 50% to 80% for your ROI. That said, to the right buyer, an alluring patio could earn an even better return while providing the X-factor that attracts future buyers to your house.” According to RST brands, patios sit at a 100% resale value, offering lower prices than decks and the highest returns.
Adding a patio cover to the equation is bound to increase your ROI even more. The numbers show that if you’re building a patio and patio cover solely as a financial investment, the best you can reasonably hope for is to break even on the project’s cost. That’s not a bad price to pay for a structure you can enjoy long before you consider selling your home!
As mentioned above, the ROI on a patio cover investment can vary. We’ve put together a few ways to maximize the value added to your home with a patio cover.
Tips For Increasing Your Home Value With a Patio Cover
Home value estimates will vary depending on where you live, what type of patio and patio cover you have, and what buyers demand. Other homes in your neighborhood also have a big effect on your home value and the type of buyers you’re going to attract. While there are some factors out of your control, there are many different things you can do to maximize your patio cover ROI. Follow these tips to get the most out of your patio cover investment!
Keep Patio Costs Low if Possible (But Don’t Sacrifice Quality!)
The less you spend on a patio cover, the less you’ll have to deduct from the money you make on your home sale. Investing in a basic, affordable patio cover is one the safest options when building to increase your home value. Unfortunately, the more intricate and unique your patio cover is, the more difficult it could be for you to see eye-to-eye on its value with a home appraiser. We fully recommend designing your patio cover the way you want it for your own satisfaction first! While a more basic patio cover is one of the safest options to guarantee ROI, you also want to steer clear from going the cheap route. Building a durable, quality patio cover can save you lots of money and time in the long run- especially when the time comes to sell your home.
Hire a Professional
DIY projects are great, but some things are better left to the professionals. Without proper experience, mistakes often happen. And we’re not talking about a minor paint mishap. Slight miscalculations during the patio cover construction process can result in dangerous hazards and costly repairs. So much goes into building a durable structure that can handle snow load, wind, and rain- not to mention all of the appropriate safety codes to follow and the permitting process. By hiring a professional, you won’t have to worry about insurance, liability, or hazardous mistakes.
Build Durable
Avoid the mistake of making a cheap investment by choosing a builder that’s known for their durability. When the time comes for you to sell your home, you’ll want your patio cover to be in tip-top shape. Rotten wood, moss/mildew, termite infestations, and rusted beams and rafters can be the result of a poorly built patio cover or poor choice of materials. While general wear-and-tear is normal, choosing your materials carefully is important for the long life of your patio cover. In fact, we’ve created an entire guide on choosing the right materials for Idaho patio covers. Aluminum patio covers often outperform wood, vinyl, glass, and fabric in UV-ray protection, pest resistance, snow load capacity, and wind tolerance.
Keep Your Patio Cover Clean and in Shape
Keeping a handle on dirt buildup, mold/mildew, and rust can prevent stains and erosion from destroying your patio cover. We’ve got a guide on how to clean your aluminum patio cover or pergola here.
Add Style
Patio covers represent relaxation, time with friends and family, and good memories. Home buyers want to see themselves in your outdoor space. By staging your outdoor space, you’re not just selling square footage- you’re selling a lifestyle. Make them feel like they could entertain friends for a barbeque, sip coffee on an outdoor couch, or roast marshmallows over the fire pit.
Here are some staging recommendations from Seattle Staged:
- Try to borrow an outdoor furniture set from a friend or neighbor or rent one
- DIY your faded patio furniture to give it an improvement
- Add colorful throw pillows that pop
- Add potted plants, drinks and glasses, and plates
In summary, people buy patio covers to enjoy themselves and to increase their home value. If you’re interested in seeing examples of our aluminum MOCKWOOD patio covers, check out our gallery for your project inspiration. Or, if you’re ready to schedule a free in-home estimate, contact us today!