A well-designed patio can significantly increase the value of your home. Studies have shown that patios can make a significant difference in the sale price. A well-designed outdoor space will bring more people to view your home and increase the number you receive offers. A patio is a great way for you to maintain peace of mind when you wait for offers on your home. Read our article to learn how to make your outdoor space a selling point.
Before you begin to build a patio consider the cost for the materials and the installation cost. This will enable you to calculate the ROI of the project. Ask for estimates from several contractors prior to making the decision to purchase a patio. Determine how much you can spend and what you're comfortable with before hiring a contractor. For a patio, you might consider building a wooden deck. Each option will come at a different cost. But, there are some commonalities between these two types.
A patio is a great option to increase the living space of your property when you plan to sell it. Research suggests that patios make up half of the home's final sale price. It all depends on how large your backyard is and what conditions the patio is in. You should build a patio five to 10 years before you sell your house. This will allow you to enjoy the outdoor space for many years to come. You can also download our eBook to learn more about the impact a new patio has on your home's value.
If you sell the patio, your return on investment (ROI), can be increased. A patio constructed well can make it worth up to 80% more than its initial cost. Unlike a kitchen remodel, a patio's ROI is higher than a home's ROI if it's built well. It is worth noting that a patio can be done in a shorter time and cost less than remodeling a home's kitchen or bathroom.
The location of the patio and the materials used will have an impact on how much you get back when selling your home. Wooden decks are the most affordable option. However, if you live in an area with high-end construction, you may be able to afford composite decking. Although composite decking is more expensive than wood, it's considered to be superior in quality and can fetch up to thirty percent of the original cost.
FAQ
How can I avoid getting ripped off when renovating my house?
To avoid being scammed, it is essential to fully understand the terms of your contract. Make sure you read every word of the contract before signing it. You should also not sign any unsigned contracts. Always ask for a copy of the signed contract.
Do I need to hire an architect?
It might be easier to have someone else do the work if you're planning on renovating your own house. An architect or builder is a good option if you plan to buy a new house.
Is there anything I could do to save on my home renovations?
You can save some money by doing as much of the work yourself as possible. You could, for example, try to reduce the number of people involved in the renovation. You can also find ways to reduce costs for materials during the renovation.
What is the average time it takes to renovate a house?
It depends on the size of the project and the amount of time that you spend each day. The average homeowner works on the project for three to six hour a week.
How much does it set you back to renovate your house?
Renovations are usually between $5,000 and $50,000. Renovations typically cost homeowners between $10,000 and $20,000
How can I quickly sell my house without having to pay any realtor fees?
It is important to start looking for buyers as soon as possible if you wish to quickly sell your home. This means that you should be willing to accept whatever price the buyer offers. If you wait too long you might lose out on potential buyers.
What should I fix first when renovating a house?
Cleaning out clutter inside and out is the first step to fixing up a house. You will need to clean out all moldy areas and repair any leaky pipes. Finally, you'll need to repaint the interior. Next, clean the exterior surfaces and paint.
Statistics
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
- Most lenders will lend you up to 75% or 80% of the appraised value of your home, but some will go higher. (kiplinger.com)
- A final payment of, say, 5% to 10% will be due when the space is livable and usable (your contract probably will say "substantial completion"). (kiplinger.com)
- It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes. (realhomes.com)
- According to the National Association of the Remodeling Industry's 2019 remodeling impact report , realtors estimate that homeowners can recover 59% of the cost of a complete kitchen renovation if they sell their home. (bhg.com)
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How To
How do you renovate an old house?
To begin with, I would suggest that you should first determine what type of renovation project you want to undertake. This could be as simple as updating your kitchen equipment or completely renovating your entire home.
Once you decide what kind of renovations you want, you will need to calculate how much money is available. You might discover that you don't have enough funds for the entire project. If this happens, you might need to make difficult decisions about which areas in your home you can afford to upgrade and which ones to keep the current budget.
There are many things to remember before you begin work if you have decided to do renovations. You must ensure you have all the permits needed for the job. You should also check whether you require planning permission for certain types of work. If you are planning to make extensions to your house, you may need to apply to the building consent.
Before you start work on the house it is best to check with the local council website to determine if additional permits are required. You should also check whether you require planning permission for any part of the house you plan to renovate. To make sure you have enough coverage, contact your insurance provider if you intend to perform any major works, such as installing new roofs.
Next, you will need to decide on the tools and materials that are best suited for your job. There are many different options available, so it's important to take your time to research them thoroughly. You will use paint, wallpaper paste or flooring for your renovations.
Be sure to consider the product's quality when choosing these products. Quality products last longer than cheaper products and are less expensive. When you are buying any item, ensure that you only purchase what is necessary for the job. You shouldn't just buy too much because you might end up wasting valuable resources and having to throw away large amounts of material. Try to only buy what you actually need.
Finally, once you've chosen the right materials for the job, you need to figure out where you'll store them while you're working on the property. Renting storage space might be necessary if you plan on renovating a large part of your home. This will allow you to store all your supplies until you have them ready to go. Alternatively, you could ask family members or friends to help you move all the items around.