Outdoor living has become much more important over the past several years and homeowners have many choices when it comes to the type of flooring they can install in the space they build. In a previous flooring guide Home Flooring Pros helped you understand about Options for your Outdoor Patio Floors. In this flooring guide we want to discuss what kind of return on investment you could expect from the various outdoor flooring types you have to choose from. As always, we invite you to tell us about your own patio floor in the discussion section at the end of the page, and thanks in advance for reading!
The good news is that outdoor living spaces, in the form of decks or patios, continue to be very popular investments. The even better news is that decks (wood or composite) are showing an average return on investment of between 67% and 77% according to the Remodeling Cost vs. Value Report. The report does not specifically discuss ROI’s on patio options but it is safe to draw a conclusion that returns will be similar, especially as many outdoor patio flooring options will be even cheaper than decking.
Patio Flooring Not the Only Factor
Of course while this kind of data is very helpful as a guide you must also take into account other factors. As realtor Portia Metras points out,
“Return on investment depends upon the value of the house itself and the value of the houses in the surrounding area. The cost of materials and contracting vary from one area to another as well.”
There is a general rule of thumb that states that the cost of any home improvement project should not exceed 20% of the value of the most expensive house in your neighborhood. If you are adding ceramic tile flooring to an outdoor patio space to your home and intend to live there for many more years to come then you should feel free to choose the flooring and furniture that gives you the most pleasure. If, however, you are only interested in the added value of your patio then taking a look at neighboring real estate to get a better idea of the right materials to use is a shrewd move.
No Need to Overspend on Patio Remodeling
The realtor David Lynch wisely notes:
“When the barbecue aficionado adds a deluxe patio to a home that’s already the most expensive property in the neighborhood there’s a good chance that very little of the cost will be recouped in a subsequent sale.”
There is currently a trend for outdoor rooms in the backyard but remember that spending $25,000 plus on an outdoor space might well price you out of your local real estate market. Conversely, in the kind of depressed housing market that we have been seeing an eye-catching, but low cost, patio could make the difference between you making a sale or not while at the same time recouping the majority of your costs. Just like ROI on flooring for the inside of your home, you really need to make sure you don’t overspend the market outside as well.
So it really doesn’t matter whether you choose outdoor indoor carpet, brick, ceramic tile, concrete, hardwood or even natural stone pavers or flagstones for your patio project. All these flooring options can bring a strong return on investment if balanced against comparable property in your neighborhood.
More Advice on Home Improvements and Return on Investment
Portia Metras Realtor – Portia Metras is an experienced realtor working out of San Diego, California. In this article she has some sound advice on adding value with specific home improvements.
Bill Gassett Real Estate News – Realtor Bill Gassett guides you through some of the worst return on investment projects.
Remodeling Cost vs. Value Report – Compare the cost of common remodeling costs against their ROI where you live.