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How Much Value Does an Outdoor Living Area Add to Your Home?
For most homeowners, their house isn't something they consider an investment. It's a place of comfort and sentimental value where they can enjoy their days.
When it comes time to sell the home and their real estate agent recommends a far lower price than they expected, that all changes.
As wonderful as it is to enjoy your home for its comforts, always consider its financial value too. Certain improvements can not only help you love your house but strengthen your investment. One popular new addition that has this advantage is an outdoor covered patio.
The Value of an Outdoor Covered Patio
If you add a covered patio to your house, how much value can you expect it to bring?
Of course, there are countless factors that will have an impact. To be general, though, homeowners increase their value by around $10,000 with a deck and over $7,000 with a patio.
There is a critical consideration, though: most of the time, these additions cost more than the value they add. The advantage of your patio is that you can enjoy the new area of your home and then recoup most of the cost when you sell it. Chances are that you won't make a net profit on the ... more
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