It can be beautiful to create the backyard of your dreams. A private escape where you can relax until the sun sets, and a pergola does just that. But there’s more to improving your yard than just for aesthetics. Many homeowners want to know if adding a pergola to their yard will add value to the property so that they can make a profit once they sell it. Here’s everything you need to know about whether adding a pergola to your home will increase your return on investment or if you should consider alternatives.
Knowing What Kind To Get
The average cost of a pergola is roughly $3500, even including the high-quality pergolas at https://theluxurypergola.com/. The biggest factors affecting the costs of pergolas are the size and the materials that are used. These are definitely costs that can affect your ROI in the future too. Although wood is the most popular type of material, it requires the most maintenance over time. Resealing and repainting are involved to keep it looking its best. Fiberglass and aluminum are much easier to maintain, making them better options for pergolas.Location Of Your Home
Geography also plays an important role in the installation costs of a pergola and the ROI. Home improvement costs vary by region and state, and ROI can vary depending on the value that is placed on the pergola. For example, a pergola will increase value in warmer climates like California where homeowners are more likely to be outside to enjoy their yard space. New buyers aren’t going to consider a home addition that they don’t see themselves using.- ROI is also dependent on the current housing market in the area; a booming market allows for a higher ROI since everyone is interested in buying.
Surrounding Amenities
If you want to get a good idea as to what the ROI on a pergola would be, you can look at the ROI of similar additions and upgrades. It’s not an exact science, since trends do shift over time, it can be a baseline to use to determine how much value you’re adding to your home. Don’t look at the national average in this respect; look at the numbers in your area to see if adding a pergola would be a good idea.Financing Your Pergola
If you’re ready to install a pergola in your yard after all of these considerations, then the next step is figuring out how to finance it. You could go the DIY route, which seems to be the cheapest if you have the skills to put it together yourself. However, you could consider taking out a personal loan to have a more permanent addition. These costs should also be taken into account when determining your ROI.A pergola is definitely a nice addition to someone’s backyard and can definitely add some value to your home. If you really want to learn more, contact a landscaping specialist to see what kind of pergola would be best for your home and how much ROI you’ll receive in the future.
