What matters most when choosing a home? Is it the square footage that interests you or the location?
A home is more than just a roof over your head; it’s a place where you can relax, unwind and enjoy the company of loved ones.
However, home searches and later going through the entire process of buying a home can become a stressful experience without an experienced Realtor agent guiding you, especially in COVID times.
For most people, buying a house is one of the largest investments they’ll make in their lives. And if you’re like most people, you’re looking forward to finally owning the space that’s all yours.
With that in mind, it’s essential to consider all aspects of a home when making your purchase decision. But given how much you know (or don’t know) about where to start, it can be hard to decide what features are the most important, especially regarding the yard or plot of land around your home, which is called the outdoor space.
Outdoor space is an increasingly important aspect of many homebuyers’ criteria says realtors in Columbia, TN. So much so that it’s being said that outdoor space can actually make all the difference to your quality of life. In fact, a survey commissioned by the National Association of Realtors® (NAR) showed that 46% of buyers in 2021 said an outdoor space was a major factor in their property search.
But does everyone really agree with this? Does outdoor space actually matter when purchasing a home, or are we just making it up?
Well, we’ve put together this list of reasons why outdoor space matters when buying a home!
1. Adds Value To Your Home
If you’re planning on making your next home purchase or looking for a potential investment property via property listings in Columbia, TN, you’ll find that properties with an outdoor space have a higher market value than those that don’t have one.
A great outdoor space can add value to your home and make it more appealing to renters or buyers if you decide to sell in the future. A well-kept yard can increase the value of your home by 5% or more, and a deck, pool or other amenities raise it even more.
Yes, you heard it right; if you ever plan to sell your home in Columbia, TN, having a large yard is considered an asset by most residential real estate agents in Columbia, Spring Hill, Lawrenceburg, Hohenwald, and Southern Middle Tennessee, especially in the urban areas where finding a spacious house can be challenging. Outdoorsy types who love spending time in nature will be more inclined to pay top dollar for a home that comes with plenty of land and outdoor amenities.
The cost-benefit ratio of outdoor space is quite high, according to a report from active living research. The average return on investment (ROI) for a deck addition is almost 70%, with an average cost of $9,539 and an average value increase of $6,671. For patios, the ROI is 50%, with an average cost of $7,150 and an average value increase of $3,549.
Some homeowners are even using outdoor spaces to create income by charging extra for everything from parking to gardening plots.
2. Improved Quality of Life
It’s no secret that a home’s interior is what really matters, but exterior elements like trees, shrubbery, and outdoor space are becoming increasingly important to buyers. Cul-de-sacs and parks are particularly desirable, according to an article in the New York Times.
Outdoor areas can also improve your quality of life by offering your family an additional space to relax, exercise, and enjoy nature. With outdoor space at home, you won’t have to drive somewhere else for a picnic, a walk in the park, or a spot of gardening.
Outdoor space also gives you more room for entertaining and socializing. A patio or deck in properties in Tennessee can be great for parties and cookouts, and it’s also nice to have a place to sit outside on weekends when the weather is plesant. For homeowners who like to grill or host backyard barbecues, a larger outdoor space is ideal for fitting all the necessary furniture and amenities.
Some may say that outdoor space is more necessary in warmer climates, but if you’re not convinced, consider this: A 2017 NAR survey indicated that 74% of all homeowners have at least one outdoor living space feature.
Even in areas where the weather is colder for part of the year, like in Tennessee, an outdoor place for kids to play and run around freely without causing a disturbance inside the house can make a big difference in terms of quality of life along with providing significant health benefits.
There are numerous benefits to spending time outdoors, including stress relief and better sleep habits. And since sunlight is a key source of vitamin D, being outside also helps with immune system support and bone health (both are very important during the COVID-19 pandemic).
3. Outdoor Space Is an Asset When You Own Pets
If you own pets, you should know that outdoor space is fundamental to their well-being. Cats will enjoy roaming around in the backyard, and dogs will appreciate the extra room to run around and play fetch. Dogs especially need daily exercise to stay healthy, so search for properties in Colombia with large yards or nearby parks and dog-friendly trails.
“The outdoor space is the first thing that my client’s comment on when they view a home,” said Tanya Clayton, a real estate agent with Coldwell Banker Real Estate LLC. “They love the idea of entertaining and looking out onto a beautiful landscape.”
It’s not hard to see why. An outdoor space can add value to a property. Just think of it as an extra room — one that doesn’t cost much to maintain or has to be heated in the winter — where you can relax and dine al fresco without leaving your home. And for families with pets, outdoor space can be especially valuable because it gives their furry friends more freedom to roam.
4. Gives You Privacy
For most people, the decision to buy a home is driven by a number of factors. These factors often include the desire to have more privacy and space, or the opportunity to build equity in a property.
People who live in apartment blocks or condos can’t enjoy the privacy that comes with owning a house. For example, if you live in an apartment, people are going to walk by your windows all the time, and you’ll hear all kinds of noise from the street. Even if you live in a neighborhood with a lot of trees and big yards, it’s still likely that someone can easily see through your windows, even if they aren’t right next door.
When you have a yard or even just a patio at the back of your house in Columbia, with a fence surrounding it, strangers won’t be able to see your yard, and it gives you more privacy. You can feel free to do what you want and not worry about your neighbors being able to see everything you do. It also makes it easier for people who work from home since they won’t be disturbed by their noisy neighbors.
5. Increases Your Living Space
In recent years, the trend for outdoor living has grown exponentially. People want to spend more time outdoors as well as entertain guests outside.
Outdoor space can increase your living area by providing additional square footage that allows you to spread out — especially if you have kids or pets. If your home has a deck or patio, those are areas where you can place an outdoor dining table and some chairs and enjoy meals together as a family. If you have children, they’ll also have extra space to run around or play sports.
Most people spend some time outside every day either exercising, gardening or just relaxing. If they have access to an inviting deck or patio with comfortable furniture, they’ll want to use it as much as possible. It’s nice to have the option to sit in your backyard on those nice evenings when the weather is warm and pleasant.
Great outdoor spaces will be even more important for those who love to entertain. They’ll need enough room to accommodate a grill, dining area, and plenty of seating in order to host parties and gatherings comfortably.
6. Offers Additional Storage
Outdoor storage spaces in various property listings like sheds and garages offer additional storage for items such as tools, lawn equipment, and even cars. A garage or shed can also be a great place to store home improvement supplies for projects such as painting and repairs. If you have a lot of items to store, you may want to look for a home with extra storage outside as well as inside the home in Columbia TN.
A well-designed patio will allow you more space in your home and make your home feel bigger. If your house is small, the patio will help compensate for this by extending your living space outdoors.
If you have a patio covered or screened in, you have extra space that can be used for additional rooms to your home. You can use it as a dining room or even a sunroom if you wish. These additional rooms can make it easier to sell your house in the future because they increase its overall value.
7. Increases Curb Appeal
Most people are familiar with the concept of curb appeal. Having a nice, welcoming front yard or porch can make all the difference for potential buyers. Whether you’re buying or selling a home in Columbia, TN, remember that these days everyone is looking for at least some outdoor space and will pay more for it.
It’s the first thing a buyer will see when they pull up to your home, and it can dramatically increase or decrease the value of your home. Having a nice lawn and an outdoor area gives you more space to show off what makes your house great.
If you have enough room on your property, you could consider renting out some of your outdoor space as storage for other people’s belongings. The extra income is always nice, but if done correctly, it could even save you money if you are paying off debt and want to put that money towards your payments.
So, coming back to our main question: Does outdoor space matter when buying a home?
The answer is yes. There are a lot of benefits to having outdoor space, from expanding storage to enjoying the great outdoors without having to take time away from home.
If you like spending a lot of time outdoors, it’s important to take into consideration the amount of outdoor space that comes with the home of your choice.
So, do you want a large backyard for entertaining family and friends? Or are you in search of real estate listings in the Southern Middle Tennessee with a pool or hot tub that might be ideal for those who like to relax in their yards?
Reach out to Coldwell Banker, a residential real estate franchise in Columbia, TN. They are a team of some of the most reputed realtor agents in the Tennessee area known for their hard work, dedication, and transparency while dealing with clients.
About The Author
Drew. Johnson holds a Bachelor of Science in finance from Arizona State University. He works as an associate for Coldwell Banker and has previously served as a risk analyst and an equity research associate at Arizona State University.