The Endless Value of Outdoor Spaces

The last decade has witnessed a dramatic increase in the dollars and time spent on improving outdoor spaces. For the majority of us, our most prized possessions are our homes and we are committed to enhancing its appearance and increasing the profitability and value of our outdoor spaces.  According to the Hearth, Patio and Barbecue Association, the entire outdoor “leisure lifestyle” category is now a $6.2 billion industry.

This shouldn’t come as a surprise, there are many advantages of adding outdoor rooms. The pay-off of investing in an outdoor space comes in many forms. In addition to adding value to a home, outdoor living spaces also provide ideal recreational and entertainment areas where families can relax and re-charge their batteries.

Designers and manufacturers have responded to the growing demand for outdoor spaces by providing a wide range of convenient and fashionable outdoor products. These serve to help homeowners create their ideal backyard paradise. The options are limitless and may include decks, outdoor kitchens, infinity pools, bars, terraces, patios, canopies, pergolas, retractable shades, outdoor fireplaces and fire pits, water features, hardscaping, and outdoor lighting, as well as designer cushions, draperies, and pillows.

If you’re thinking about creating the perfect outdoor getaway, I have outlined below some key points that will define the value of outdoor spaces.

Personal Enjoyment

Although creating a quality outdoor space requires an investment of time, effort and materials, the result is an inviting and tranquil setting that can be enjoyed for years to come. Most homeowners could use a place to unwind. Spending time outdoors and enjoying nature is the cheapest form of therapy.

Entertainment Value

Having an outdoor space offers the perfect opportunity for entertaining family and friends.  State-of-the-art outdoor kitchens are not only popular, but ideal for any outdoors party. Accessories may include built-in barbeques, refrigerators, stoves, bread warmers, wine coolers, custom cabinetry, and even keg-o-rators for serving beer.

Whether you want to include an outdoor stone fireplace, a pergola, or an alcove area with a television and comfortable seating for family gatherings, outdoor living spaces just make sense. Take into consideration your lifestyle, plans for entertaining, intended use, and functionality of the space and begin planning your ideal outside living room.

Economic Benefits

Experts agree, investing in an outdoor living space will indeed add value to your home. According to Remodeling Magazine’s 2013 Cost vs. Value Report, some of the best returns on investment came from renovations that enhance curb appeal or create outdoor living spaces. Research done by Professional Builder Magazine and the American Institute of Architects show a 56 percent increase in requests for outdoor living spaces by potential Homebuyers’.

Homeowners aren’t the only ones realizing the financial benefits potentially gained through investment in outdoor spaces. Restaurateurs seeking out fresh ways to breath new life into their restaurants are  joining the trend and experiencing a quick boost in sales. Customers love dining al fresco and by increasing the footprint of their restaurant, owners are meeting the surging consumer demand, adding considerable revenue and gross profit to their operation. In addition, outdoor spaces increase a business’s outdoor visibility and exposure while also creating a seamless transition that invites passers-by and the casual shopper.

Having a luxurious, open-air outdoor living room creates a relaxing environment for the family to spend their summer days. Whether you crave a place to chat with a friend, host a dinner party or simply read a book, outdoor living spaces enhance the enjoyment of your home.