Is an Outdoor Kitchen a Good Investment?
Outdoor kitchens are becoming more popular, but most people want the answer to the question, “Is an outdoor kitchen a good investment?” The good news is that real estate experts believe installing an outdoor kitchen increases a home's value significantly. Read on to find out more on how an outdoor kitchen could increase the value of your home.
What Is The Cost Of An Outdoor Kitchen?
An outdoor kitchen’s cost is dependent on the appliances that'll go into the kitchen, their size, and the kind of materials used. How extravagant and unique you want the kitchen to be will also affect the cost. Is the thought of adding an outdoor kitchen financially intimidating? You're not alone.
Building an outdoor kitchen can be costly, and you may be left wondering if the return on your investment is worth it. Well, it doesn't matter what your outdoor kitchen's cost is; the investment is worth it. Here's why we're convinced:
1. You Increase The Value Of Your Home
According to a Casual Living Magazine survey, 49% of all homeowners have an outdoor living space and cooking area in their homes. 25% of those that said they didn't have an outdoor kitchen were expecting to add one in a year. Having a backyard kitchen is becoming more popular and won't go out of style soon.
Investing in an outdoor kitchen will upgrade your home and ensure it's on par with contemporary kitchen remodels. It'll ensure you are visible in a volatile real estate market and enhance your home’s value in the future. Results of a survey done by the National Association of Realtors disclosed that more than half of potential home buyers were prepared to pay a premium for houses with an outdoor living space.
Outdoor kitchens return 100%-200% of their improvement cost according to Remodeling Magazine, CNN Money, and About.com. This ROI formula works by offering you a design and kitchen- build that is at par with your location and your home's value. This is also reliant on the climate in which your home is located.
For instance, colder areas will see a lower ROI than warmer climates. However, outdoor kitchens in colder regions are becoming more popular. Another factor that'll affect ROI is the quality of the materials used to build the backyard kitchen.
2. It Increases The Outdoor Size Of Your Home
Installing an outdoor kitchen automatically increases the size of your outdoor entertaining space and your kitchen. If you've ever thought about the possibility of having a larger kitchen that'll allow you to entertain, spend time with your family, and cook, an outdoor kitchen is your prayer answered. It's more cost-effective to build an outdoor kitchen than to expand or remodel your existing indoor kitchen.
Outdoor kitchens are becoming popular because they increase your home’s size and your kitchen's size. You build a new room when you invest in an outdoor built-in grill. You get a fully functional room outdoors where you can relax, play, or eat. You become more efficient when you have everything you require outside rather than struggle to run in and out to your indoor kitchen. Many home owners opt for some sort of pass through to unite the indoor and outdoor spaces. A larger window with plantation shutters, for example, can make the pass through not only functional, but stylish too.
If entertainment is one of the things you like to do, you can be sure that an outdoor kitchen will impress your guests. In a way, an outdoor kitchen can also be seen as a social currency. Dining out isn't as appealing as hosting events and dinner at home. And, you may reap significant financial benefits from hosting your dinners rather than dining out.
3. Improve Health And Wellness
One of the most significant reasons to invest in an outdoor living space and kitchen is that you invest in yourself and your family's wellness. It'll offer you the opportunity to spend a lot of time outside while reaping the health benefits from it. Spending time outdoors while making delicious meals in your kitchen has significant advantages.
You benefit from improved concentration, reduction of stress, creativity, better memory, and much more. While investing in an outdoor kitchen can set you back a few thousand dollars, your investment will pay off significantly in the future.
Ensure your kitchen is built in the right way and with suitable quality materials. Amenities such as granite countertops, stainless steel cabinets, or a built-in grill will further upgrade your backyard living space.
Even though outdoor living areas are built to offer you comfort, fun, and endless entertainment, they will provide you with excellent returns on your home's value.