yard with stone kitchen

Raleigh’s Rise In Outdoor Home Living Areas

There was a time when a deck or screened in porch was an exceptional find in a new home and an inground pool was the height of fine living. Today’s consumer is investing as much money in their outdoor living areas as they are in their indoor space. They have traded in lawns for fire pits, water features, outdoor kitchens, and lots of stonework. With the exceptional weather in North Carolina, homeowners can now accommodate a larger number of guests and engage in a wider variety of activities that are not permissible inside. This new trend is hot, the demand is high, and so is the price tag.

Outdoor Social Events

Homeowners who live in the greater Raleigh area are turning their backyards into entertaining areas where they and their guests can spend their time. Salt water pools, ambient lighting, outdoor kitchens, oversized porches, stone walkways and patios are becoming mainstays of home ownership. Many have also replaced the typical sliding glass door to the deck with folding accordion styles, creating an easier transition from interior to exterior space.

Appraisers Are Struggling With Home Valuations

luxury home with outdoor living areasPeople are certainly enjoying their expensive outdoor living areas, but just as it took a while to gain usable data for adding the appraised value to the once popular finished attic, bonus room over the garage, or the more recent trend of the finished basement, Realtors are still figuring out the best way to assess how much value is added to a home from outdoor living spaces.

Currently, a formula being used is an additional 40% to 50% of the square footage of the outdoor space compared to the square footage value of the home. If, for instance, a home is valued at $200 per square foot, an additional $100 is added per square footage of outdoor space. As more historic data from sold properties is compiled it will be easier to assess value. For now, it is a little bit of a guessing game as to what value an appraiser may give to these beautiful entertaining areas.

Linda Craft & Team, REALTORS®

If you are looking for a great home with a large outdoor living space, make sure you have a professional working for you to get the most satisfaction from your home buying experience. For over 30 years, Linda Craft & Team, REALTORS® has served the Greater Raleigh area and have been voted #1 Team in the Triangle. Our agents work 24 hours a day, 7 days a week, to ensure you receive the customer satisfaction you want with the home purchase you need.

Schedule an appointment with us today or call us at 919-235-0007 for a full listing of all of our services and more!

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