With the days getting longer and warmer weather settling in, moving downtime from the living room to the backyard is a familiar ambition. However, if your outdoor space lacks the functionality and comfort of your couch, it could be time to make a change.
Find The Funds
While there are lots of affordable ways to spruce up your yard or patio, a significant overhaul can quickly become a budget buster. But, with the right strategy, going all in on a backyard makeover could be less costly than you think.
One of the first things to consider before you start designing your backyard oasis, or any major home improvement project, is whether you’re already getting the best deal on your current mortgage. If interest rates have dropped since you closed on your mortgage, or your credit score has improved, you could be able to lower your monthly payment. The extra money in your pocket, plus the long-term interest savings will put you well on your way toward upgrades that make you the envy of the neighborhood.
Plan It Well
In any case, you’ll want to take steps that ensure your project is an investment, not a money pit. That means creating an outdoor space that you will actually use. Let your lifestyle guide you. If you love to cook, an outdoor kitchen makes sense. If you regularly watch live sports with friends, a covered patio with lots of seating and an outdoor TV might be the best route.
Remember to keep your surroundings in mind. The key to a project that adds value is an understanding of what potential buyers will want. Swimming pools are notorious for being a poor investment, but if you’re the only house in the neighborhood without one, it could become a deal breaker.
Climate will also play an important role. Hot, humid summers will likely require integrating fans into your design. Cool nights make a fire pit an obvious choice, while concerns about gnats or mosquitos might place a screened-in porch at the top of the wish list. If privacy is important, an upgraded fence might be critical.
Don’t Go Overboard
Regardless of the features, keep it proportional to the space you have. Homebuyers like to see outdoor spaces that complement the home rather than overshadow it. A deck that takes up most of the yard or a pergola that dwarfs the rest of the house will likely turn off buyers. A finished look that blends right in is a sure sign of success.
If you’re ready to see if getting the most of out of a mortgage can also get you outside more, call Open Mortgage and speak with a loan specialist today.
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