Adding a covered patio to your home can provide a return on investment (ROI) of 30 to 80 percent, depending on the size, materials, and features.
It’s important to make the most of this ROI by considering the best ways to add a covered patio, avoiding potential pitfalls, and understanding why it’s a wise investment.
If you’re planning to invest in your home, it’s important to weigh the potential return on investment before making any permanent changes.
Keep in mind that not all home improvement projects are equally profitable when it comes time to sell.
Upgrading your backyard with a covered patio is a wonderful way to enhance its appearance and increase the value of your home.
However, it’s important to note that various factors can affect the amount of value added by this improvement, including the patio’s type, design, unique features, and more.
It’s essential to get it right, as a poorly executed patio can actually decrease your home’s value.
There is always the option of attaching a pergola.
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How Much Value Does a Covered Patio Add?
The amount of value your covered patio will add to your home’s listing price depends on how much it costs to build and the material that it is made of.
- If you spent $5,000 to build a covered patio made of wood, you will likely get an ROI of $3,750 or 75 percent.
- If you spent $5,000 to build a covered patio made of some other composite material, you will likely get an ROI of $3,500 or 70 percent.
The value of a covered patio may vary depending on your location.
Warmer states such as Florida or California may see more value in a covered patio than colder, rainier, or more temperate states like Alaska.
To determine how much value it may add to your home, consider consulting with local contractors or realtors.
Additionally, researching the prices of similar homes with porches on the market may provide helpful insights.
When it comes to building a patio and hiring contractors, it’s important to keep in mind that the cost of materials can have a big impact on your return on investment.
To get a better idea of how much it might cost, it’s a good idea to get multiple quotes and weigh the potential investment against your budget.
Covered Patios, Decks, and Porches
If you’re planning to enhance your home with additional features, there are numerous options to consider.
For outdoor living spaces, you can pick from a porch, wooden deck, and patio, among others.
These options are quite similar, making it tricky to decide which one to choose.
Here are the main differences between the three options.
- Porches are typically in the front or wrap around the home. People often sit and hang out in these areas, but they aren’t typically used for cooking or eating.
- Patios are typically at ground level and can be covered or uncovered. You hang out, cook, and eat on a patio that is furnished.
- Decks are often elevated off the ground and rarely covered (unless by an extendable sun shade). They are similar to patios in that people often cook, eat, and sit on decks.
The ideal choice for your outdoor space is determined by various factors, including the available space, your budget, and your desired outcome.
Covered patios provide versatility in entertaining guests and are a cost-effective option with a high return on investment.
Related Article: Top 10 Reasons for Owning a Pergola
What to Consider When Building a Covered Patio
When constructing a covered patio, it’s essential to ensure that it complements the look and style of your home.
A patio that is too large or intricate may reduce the value of your home, so it’s essential to keep it organic and proportional.
Additionally, it’s crucial to verify with your HOA that there are no guidelines or limitations that could prevent you from creating your ideal patio space.
It’s best to steer clear of trendy designs as they can quickly go out of style.
If you’re going for a classic look, stone, and brick are great options, but if you’re on a budget, concrete stamping can give you a similar look for less.
Wood is always a timeless choice, but avoid using too much paneling on the sides and roof.
To add character to any material, consider adding a pop of color through outdoor furniture, rugs, or hanging baskets.
When choosing a covering for your patio, there are several factors to consider.
The covering should complement your existing roof and overall home design.
Additionally, it should be durable enough to provide a good return on investment in the long run.
You may also consider options like a retractable shade to add versatility to your patio space.
Benefits of a Covered Patio
Adding a covered patio to your home offers numerous benefits, including increasing your home’s value.
You can enjoy the outdoors no matter the weather with the covered space.
It offers protection from rain and hail during inclement weather and shade and sun protection during hot, sunny summer days.
Protecting your patio furniture from sun damage is vital to extend its lifespan and prevent weakness and deterioration over time.
Keeping your furniture dry is equally essential to prevent mold growth and other bacteria on it.
Never again do you need to worry about accidentally sitting on a wet cushion with your covered patio.
Not only does a covered patio provide an excellent outdoor entertainment area during both day and night, but it also allows for enjoyment all year round, as long as the temperature permits.
Upgraded backyard spaces have become increasingly popular as one of the most sought-after home and backyard improvement upgrades in recent years, and a covered patio is a great way to capitalize on this trend.
Final Thoughts
If you’re wondering whether investing in a covered patio is a good idea, the answer is yes.
From a value-add perspective, it’s worth it. In the short term, it provides a fun and unique space to relax in your backyard or host gatherings.
In the long term, it adds value to your home’s resale value, and you’ll see a return on your initial investment.
The return on investment for a covered patio can depend on several factors.
However, having a great covered patio can make your home more attractive compared to others in the market.
By extending the outdoor space, you can enjoy more time to entertain, relax, and unwind after a tough day.
This additional season would be a great way to make the most of your outdoor space.
Enjoy living the outdoor life!!!
