Lest you forget the outdoor living space
By | 10th Nov 15

Renovating your outdoor living space to add value to your property.

Renovators are great at giving their kitchen, bathroom and living areas a facelift – but many fail to dedicate resources to the outdoor living area. Truth be told, renovating the space doesn’t need to cost an arm and a leg, and can still reap high returns when it comes time to sell.  Read this informative article, written by Frank Valentic for Australian Property Investor Magazine, November 2015.

 

The humble backyard is very attractive to buyers as it not only provides people with space to entertain friends and hold a quintessential Aussie barbie, it’s also attractive for those with kids. Many Australians have fond childhood memories of playing backyard cricket, running through the sprinklers and playing with pets and want to relive these memories with their own children. Additionally, many buyers are seeing the mental and physical benefits that come with connecting to the outdoors, so backyards with a lush garden and veggie patch are becoming sought-after commodities.

With the backyard high on the checklist for homebuyers, how can a renovator improve the outdoor living area before sale?

Consider the dining and cooking spaces

The barbecue is a place where people gather for a beer and a sausage on milestone occasions – Christmas Day, Australia Day, Melbourne Cup, Grand Final Day and birthdays, etc. It’s therefore important to place emphasis on the cooking and dining space to cater to these longstanding traditions.

Consider housing an in-built barbecue with all the bells and whistles, which will instantly add value to the backyard. Next to it, create a bench-top for food preparation and, if space permits, install a mini-bar and outdoor wash-up station. These facilities make it easy for outdoor entertaining, by eliminating the need to go to and from the kitchen.

And it doesn’t have to be pricey – outdoor cooking spaces can set you back less than $2,000 if you do it yourself. If your buyer is a big fan of entertaining, a well thought out entertaining area will be worth its weight in gold.

Invest in decks and patios

Installing a deck or patio in a backyard can turn a dull, lifeless yard into an exciting entertaining space, particularly if your yard lacks a green lawn and doesn’t get much sun.

Creating a deck area with shelter can be the difference between the ability to use the space for three months of the year and all year round potential. Position the patio next to the entry of the house and invest in sliding doors to create an inside/outside entertaining area. You might also want to install heater lamps so the area can be used in the cooler months.

In terms of materials, look for timbers that complement the colour scheme of your home. For instance, if your living room has light flooring, try to resemble this outside to achieve fluidity between the inside and out.

The final touches

Gardens and pools are the obvious key features of a backyard, but sometimes they can be the biggest money pits for renovators. Firstly, it’s unnecessary to install a swimming pool for the sake of selling – the return on investment simply isn’t there. However, it’s worth cleaning the pool and polishing up the fencing area to ensure it looks spic and span for sale.

With gardens, it’s also not worth investing in an entirely new landscape. It is, however, worth pulling out weeds and laying down stones or mulch to make the garden look neat and tidy. You can also pot cottage flowers to give the garden some colour. Otherwise, evergreen, native grasses can make your garden look lush yet modern.

Overall, a little bit of work on the garden can go miles when it comes time to sell or rent. Just remember to keep in mind budget and prioritise what’s best for your property with what will attract a broad range of buyers or renters, as it’s easy to overcapitalise when renovating.

 Frank Valentic  is the founder of Advantage Property Consulting, an independent Buyers’ Agency spanning Buyers’ and Vendors’ Advocacy, Property Management and Owners Corporation services.