When you own a large luxury home that sits on a lot of property and you want to add more value to it, there are a few things that you can do to your backyard so that when you go to list it on the real estate market in the future, you know you're not losing money. While extra backyard additions may not add value to a traditional home, the following additions can benefit a luxury property.
A Nice Patio
One of the best investments you can make in your luxury property if you want to get a really good ROI (over 100%) when you go to sell it in the future is a patio. While you don't necessarily want to pour a fortune into a patio, having something like some nice cement poured so that you have a good pad for some outdoor furniture can be a really good idea. If you want to make your patio a bit more luxurious to match the rest of your home, consider having smaller concrete slabs put in with grass in between; this looks really nice but you don't have to put that much money into the overall cost.
A Swimming Pool
Having a swimming pool in a backyard in the suburbs may not be a good investment to your property when you go to sell it, but if you have a swimming pool in a backyard that's right on the water or that overlooks the city, then you can definitely increase your home's value. Depending on the overall style of your home will dictate what kind of swimming pool you should have installed. For instance, if your luxury home is a bit more midcentury modern, then adding a pool that's really flat and minimalist will be the perfect fit for your backyard.
If you have a great view from your backyard then you can enhance it overall by adding a deck to it. According to some studies, decks will give you about an 80% return when you go to sell it, which means you may be missing out on a little, but not much. But when you go to sell your house in the future, having a huge deck to look at the views from is only going to attract more buyers and make your home look more complete.
The key to adding anything to your already luxury property is to ensure that you are adding value to your property. To ensure that you are adding value to your luxury home before selling it, reach out to a real estate agent near you.