Summer is a popular time for homeowners to make improvements to their Florida homes. While many upgrades can add value to your home, TheStreet offers advice on five improvements that are worth your time and money.
1. SWIMMING POOLS
In Florida, many neighborhoods have community pools, but adding an in-ground pool can add around 11 percent to a home's resale value. Before making this addition, you should consider the maintenance that comes along with having a pool. Homeowners living in warmer states have the opportunity to use their pools throughout the year compared to those in other states who typically have to close their pools in the winter. Many home builders offer pool packages to ensure you're getting the best deal possible with all your desired amenities. While some homeowners may be tempted to opt for an above-ground pool for its affordability, the source says research shows it fails to add value to a home and can even deter potential buyers.
Another good investment you should consider this summer is the addition of a deck. A survey completed by The National Association of Realtors shows having a deck of any kind is one of the best investments a homeowners can make. Composite decks may be the best option if you can afford one, as it can hold up throughout Florida's sun and rain, while a wooden deck costs around $5,000 less and has a return rate of 72.8 percent of what it costs to build it when selling.
For many homeowners, having a patio may seem silly, but when making improvements to homes in Florida it provides a great entertaining area outdoors. Another major bonus of this addition is how inexpensive it can be, notes TheStreet. You may choose to turn this into a do-it-yourself project, while contractors can complete the job for around $3,500. Concrete patios can be slightly more expensive and should be done by a professional. Other upgraded features such as a fire pit could also help increase your home's value.
4. OUTDOOR KITCHENS
Homeowners who enjoy grilling and dining outside may really love the addition of an outdoor kitchen. This improvement may not work well for properties that see a lot of snow or harsh winters, but in Florida, this addition can add a significant amount to your home's value. Having the basics such as a refrigerator, sink, cabinets and cooktops can be great while installing a pizza oven or beer tap could make your outdoor kitchen more enticing.
While you may be questioning the real value of having a gazebo on your property, the source says you may want to do it if you have the space. This can be a great addition to your home and serves as a shaded spot to escape the summer sun while still enjoying the warm weather.
Choosing home improvements based on their resale value is financially smart, but it is important to select projects that you will enjoy too.