When the seasons change, all we want to do is makeover our homes to fit these transitions. Whether it's spring cleaning, adding a deck during the summer, or designing a winter garland for a mantelpiece — you name it, we're interested. However, when it comes to altering your home, finding the perfect project can be tough, especially if you want it to be profitable in the long run.
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To help us figure out the best home projects for fall, home advice service Realm pinpointed the top property additions with the highest ROI (return on investment). In first place, we have adding a fire pit with a 568.41% ROI.
"Fire pits are one of the few backyard projects that have a high ROI across all 50 states," Liz Young, Realm's founder, tells Hunker. "One of the main factors we've seen impact the ROI of backyard projects is the number of days per year you can use the amenity. Since pools can be used a higher percentage of the year in warm climates like L.A. than cooler climates like Maine or Michigan, their ROI varies greatly from one region to the next." On the other hand, since fire pits can be used year round in all climates, they have a more steady ROI.
"Patios and pergolas are both projects that average under $5,000 nationally and can drastically increase the backyard 'curb' apparel of a property," Young explains. "This already was causing both of these projects to increase in volume and ROI, then the pandemic increased it even more."
Plus, in terms of Realm's data, backyard improvements for entertaining is the second most popular project users have considered during the pandemic (kitchen renovations is the first).
If you're looking for an autumn project that will keep you busy and be profitable at the same time, definitely consider one (or perhaps all?) of the above.
Anna is a Los Angeles-based writer and editor who covers lifestyle and design content for Hunker. She's written for Apartment Therapy, the L.A. Times, Forge, and more. She previously worked as the lifestyle editor at HelloGiggles and deputy editor at So Yummy. Her email: firstname.lastname@example.org