While it is pretty clear to top real estate agents that having an outdoor space, be it a backyard, balcony, or patio, is a serious value-add, it’s sometimes hard to fully quantify the benefits.
Outdoor spaces are important to buyers, and since many buyers will eventually sell this home and move on, they care about an outdoor lounge area that holds value or grows in value over time. So as you are thinking through what upgrades are worthwhile to a current home, or what features will hold value in a home you’re buying now, keep at least one thing in view: an outdoor fireplace!
From Backyard to Haven: Enter the Outdoor Fireplace
A big reason that backyard fireplaces have become one of the centerpieces of the modern patio is that people have been longing to travel. While many have scratched the travel bug since the COVID-19 vaccines became more widely available, many people are left with a lingering feeling that home life should be a little more luxurious, a little more cozy and comfortable.
The outdoor fireplace isn’t just the rusty fire ring of wilderness-camping fame; it’s a stone, hardscape addition that looks more like the resorts we’ve been longing to visit and less like something rustic or temporary. These new outdoor fireplaces become the ‘it’ location for dinner parties to adjourn and get cozy, for children to roast marshmallows but also for adults to sip sophisticated cocktails. The combination of versatility and elegance really makes the outdoor fireplace a winner.
Opt for Features You Love, Not Just the En Vogue Add-Ons of the Day
That being said, the backyard isn’t only the fireplace. These days, the outdoor fireplace is being combined with many other backyard haven features, from a pool or hot tub to a full-on outdoor living room complete with roofed terrace. Others focus on the dining experience, laying out a beautiful table and chairs but also storage, a bar, and a grill or brick pizza oven. Creating spaces that aren’t just outside but are fully living rooms and dining rooms has become the trend.
That being said, it can be daunting when you’re trying to design a backyard that is perfect for your actual family and friends. Maybe your family is full of athletes who will use a swimming pool all year round but who won’t touch a hot tub. Others might happily sit in adirondack chairs around a fire and look up at the stars but just won’t bother with preparing meals outdoors. Choose the features you add based on the unique look of your yard and what you actually love to do.
Recognize that a Great Outdoor Lounge Is Still an Investment with Returns!
While your own enjoyment of the space should come first, realize that outdoor lounge spaces are fetching strong ROI on the market right now, with many features commanding more of a premium at sale than they did pre-COVID. While very few if any features get a 100% ROI, the boosted sale price for your home can be an added bonus when you see the price tags for your renovations. Enjoy every element to the fullest, including that outdoor fireplace, but then reap the rewards when it is time to sell the house in the future.