Finally, fire pits make sense financially.
We don’t need a study to tell us that the pandemic set off an outdoor space-race across the country, or that we all now have insanely detailed mental blueprints for our fantasy alfresco kitchens.
But there is data on the phenomenon, and it shows that the desire for outdoor extensions of the home is now widespread enough to boost a home’s price and sellability by significant margins. From The New York Times, here’s a primer on outdoor space upgrades that now double as investments.
Homes with outdoor kitchens can sell for 2.2% more than similar homes.
Built-in outdoor pizza ovens can increase a home’s value by 3.4%.
Last year, prices for homes with pergolas, gazebos, canopies and pavilions increased by 45%.
Homes with outdoor fireplaces can sell 2.8 days quicker, and for 1.6% more than similar homes.
Even Zen gardens can increase a home’s value by 1.5%.
Considering that yards have traditionally been one of the homeowner’s most maddening money pits, that’s a big swing. Now everyone from sellers to agents can throw some serious cash at outdoor spaces, and count on actual ROI.
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