When homeowners invest in outdoor kitchens, they’re not only thinking about the enjoyment they’ll get from its use, but also what it means for the value of their home. The good news is that outdoor kitchens add significant value to your outdoor experience and the property as a whole.
The Value an Outdoor Kitchen Adds to Your Property
Research shows that an outdoor kitchen can increase a home’s value by about 60% of its original value. The actual value, of course, depends on the size of the space, the amenities that are included and the degree to which the outdoor kitchen complements the exterior of the home and its landscape.
When you consider that an outdoor kitchen functions as another room, this added value makes sense. You have another area to prepare, cook and dine on meals, as well as added storage for kitchen appliances, utensils and food/drinks.
Tip: While outdoor kitchens in warmer climates tend to come with a higher ROI (as they can be used year-round), adding a pergola or patio enclosure over your outdoor kitchen can extend its use in the rainy spring season or on chilly fall nights. This extended functionality translates into a greater value.
Added Value in the Long-Term and The Short-Term
Perhaps you’ve outgrown your home or you need to relocate for a new job. Any number of factors can prompt you to sell your home — and with value-added features like an outdoor kitchen, you can list your home at a higher sale price when it hits the market.
While this resale value is a clear benefit of adding an outdoor kitchen, it’s also important to consider the costs it can save you in the interim. Consider insurance premiums, for example. If you’re able to increase the value of your home, you subsequently decrease the loan-to-value ratio. With less risk to lenders, monthly insurance costs can be significantly reduced.
What’s more is that with an outdoor kitchen right in your backyard, you’re more likely to dine at home versus going out for dinner. So whether it’s burgers on the built-in grill for a barbecue or a woodfire pizza in the pizza oven for Italian night, you can capture the same feel of a patio in the comfort of your home.
Interested in adding an outdoor kitchen to your Northeast Ohio backyard? Green Impressions combines a passion for landscape design with years of experience to design and build outdoor kitchens — from small and simple concepts to the large and complex. Connect with our team today for a free consultation.