Maximizing the return of a considerable investment, like the installation of an outdoor kitchen, is essential and something you should seriously discuss with the family, especially if you plan such a project. Or the other way around, if you plan to sell the house within the next years.
Building an outdoor kitchen is something families double or triple think before they do anything else. Before they even consider finding an outdoor kitchen contractor or get an estimate.
Why? Because the outdoor kitchen building cost is considerable – even if the project is not huge. And so, the question is always the same, is it worth it?
To make your life extremely easy, let’s say this. If you live in Los Angeles and love spending time outdoors, fixing up the backyard and make it a great livable environment with the addition of an outdoor kitchen is a fabulous idea. Even if you don’t sell.
Now, if you plan to sell the house sooner or later, it’s good to know that having a livable backyard and an outdoor kitchen will make a huge difference in the return of your investment.
With that said, let’s explore the very next step.
How much value does an outdoor kitchen add to the house?
You cannot really set a price. Or to be more exact, you cannot really say if you will have a 100% or 50% ROI on your outdoor kitchen installation since it depends on various variables. Which are these variables?
• First of all, the buyer. It depends on how much they appreciate or like the idea of having an outdoor kitchen.
• The quality of the outdoor kitchen itself – the material, the size, the construction.
• The space, the size, and how well the outdoor cooking area is organized.
• The condition of the rest of the backyard – the landscape, the architecture, how well it’s taken care of, etc.
The fact here is that you can ask for more. An outdoor kitchen is an add-on. It’s in fact one of the best backyard solutions – one that, actually, is highly appreciated by most people. And so, you definitely earn from that, but it’s not easy to put the finger on the exact gain.
Let us further explain.
Factors that affect the ROI on outdoor kitchens
• Are you planning to sell the house as soon as the outdoor kitchen builder completes the job? Or you plan to stay in this house for a few more years before you sell? Overtime, the value drops – that makes sense, doesn’t it? So, if you enjoy the outdoor kitchen for several years and then, sell, you may get about 25% ROI. If you sell right away, you may even exceed the initial cost of the investment. And this brings us to another big subject.
• The outdoor kitchen counter space, the quality of the construction, the longevity of the material, the maintenance requirements, the size of the livable space all make a difference in the return value. Most people are prepared to pay more if they find an outdoor kitchen that reflects their style – even more, if the area is spacious, practical, and have add-ons, like an outdoor fireplace or fire pit. Why? Because people seek practical solutions. They are glad to know that they find the outdoor kitchen ready. And that they don’t have to find outdoor kitchen contractors but just go out and cook.
• The location of the outdoor kitchen is equally important with everything else mentioned above. Yes, it’s important to have the outdoor kitchen built well and it’s equally essential that the material needs minimum maintenance – if at all. All such things are advantages that lead to a further increase of the ROI. But if the outdoor kitchen is built in a convenient location – usually close to the home, and is also well-sheltered, the return may be even higher.
Think of it this way. Having an outdoor kitchen is an advantage since they enlarge the home, make the best out of the backward, are truly useful and give room for plenty of outdoor activities. Now, if potential buyers find a home with an outdoor kitchen built already, and a neat, livable backyard, they are usually willing to pay more. So, perhaps you should take the possibility of investing in an outdoor kitchen seriously.
