When renovating a house, there are many changes you can make inside the house to entice buyers, but have you considered making updates outside of the house? Creating a backyard paradise will spark interest in your property, look great on real estate listing photos, and draw in potential buyers. The perfect focal point for any cozy backyard is a fire pit. Revamping the backyard to include a fire pit has the potential to increase the value of your property and give you a great return on your fire pit addition. Here’s why:
1. Fire Pits Utilize More Usable Space
A big backyard is always a desirable selling point in a house. Even if you are working with a property that has a smaller yard, a fire pit will create an outdoor gathering space in an area that otherwise might just be covered in grass or dirt. A fire pit creates a space where buyers can envision hanging out with friends or spending time together as a family around a crackling fire. The backyard becomes an extension of the home, adding more usability to the property. Just make sure that the fire is built at least ten feet from the house.
2. Fire Pits Fit in Any Budget
If your rehab is facing a tight budget, a fire pit might seem like a luxurious addition. But the truth is that a DIY outdoor fire pit is a project that can add a touch of luxury without costing a fortune. Affordable fire pit ideas include anything from a small fire pit bowl or portable fire pit on the patio, to stacking circular concrete tree rings. You can also build your own stacked stone or decorative brick pit, creating a custom look complete with built-in seating. No matter what kind of fire pit you decide to build, make safety a priority and include a grate—and be sure to investigate local regulations and building codes.
3. Fire Pits Impress Buyers
Outdoor fire pits add a huge “wow” factor to your property. Imagine potential buyers looking online through listing after listing of properties for sale nearby, and then finding a newly renovated home, complete with a shiny new fire pit and outdoor entertaining area. That’s sure to draw attention to your house and bring potential buyers over to check out your handiwork. Fire pits are one of the most popular backyard additions. Build a fire pit that looks great and your property is sure to stand out and have an edge over other options.
4. A Year Round Use
One of the great things about outdoor fire pits is that they can be used all year long, making the property’s backyard even more useful. This versatile renovation adds value in any season. Fire pits invite the family to sit around and roast marshmallows and hot dogs during the summertime, enjoying the long, warm days together. During the colder months, wrap up in a cozy blanket and sit close to a loved one near the warmth of the fire.
5. Return on Your Investment
Most importantly, adding a fire pit to the backyard has the potential to increase the home’s value, helping you turn a profit and get more out of your initial investment. A trendy, modern renovation makes the home more desirable and can attract interest and drive up bids. Many homes for sale have great landscaping and spacious backyards, but a fire pit transforms that space into a cozy, usable entertainment area. A fire pit can help buyers envision themselves in the home and how they and their family will enjoy it.
We hope these reasons for adding a fire pit to your renovation was helpful! To find out more about how to find success in real estate investing sign-up for a free Real Estate Elevated event!