There are many changes you can make to improve your property, but does a pergola add value to a home or not?
One of the best ways to increase the value of your property without breaking the bank, is to utilise any un-used outdoor space.
A perfect way to do this is to build a pergola because it allows you to add a sense of character while at the same time, providing a very functional purpose. They can be used for a number of purposes such as providing a point of focus to your garden by highlighting a particular area, or a space for entertaining your guests.
Before embarking on such a project though, you should ask yourself the following questions.
Do I really enjoy sitting on my patio any time of the day?
If the answer is yes, then a pergola will be a good option for you. From my first-hand experience, I am always amazed how a pergola can take a traditional patio or backyard and place it in the elite class for comfort and aesthetic appeal. Pergolas create a finishing touch and allow a shaded, open air feel that is comfortable and satisfying.
Will it add value to my home?
Yes, a pergola will add market value to any house. Selling your property within the first year will probably not bring a full return on investment; however it will definitely give you a competitive niche in the market. Since outdoor living has become increasingly popular, the value on properties with a pergola or comfortable outdoor space has been on the rise. A safe gauge for a deck or backyard improvement is about 50% – 80% for your ROI.
Hopefully by answering those questions, it has helped to throw some light on any doubts you may have had about pergolas. You can see some examples of our Melbourne pergolas here.
There are many reasons why an outdoor structure adds value to your property but the simple fact is that outdoor living has become more and more popular, which means people are increasingly seeing the value in outdoor spaces. Where once there was an under-utilised space, a prospective buyer now sees a beautiful functional area.
Why outdoor structures add value
We can no longer count on the value of our property to steadily rise. It may rise, but prices might also remain flat or even decline. If you have equity in your home, you may be tempted to use it on that home extension you’ve always wanted. On the other hand, a full extension can be a risky investment, taking too much of a chunk of your equity and leaving you vulnerable to the vagaries of the property market.
An outdoor structure is a solid investment for several reasons.
Apart from a pergola adding value to your property, it is an effective way to take full advantage of the hot weather conditions in Australia and provide a wonderful investment in an outdoor area which will suit many purposes.
We’ve been building pergolas for over 20 years, helping people increase the value of their home, while providing a great addition to their property. If you’d like any further advice on building an outdoor structure, please give us a call on 1300 724 118.