If You're Staying Home This Summer, Here Are 7 Home Improvements to Consider

While there is a light at the end of the tunnel, especially with the rollout of vaccines, COVID-19 has still put a damper on many of our plans. If you’re going to be spending more time at home this summer, now is the time to make the most out of your “staycation.” Maybe you have a little extra money in the bank from canceled plans or postponed vacations - or it could just be time to upgrade your living space. Whatever your reason may be, here are seven home renovations you may want to consider this spring.

Improvement #1: Fence in Your Backyard

Fences are great, especially if you are going to be spending more time outdoors this summer. If you have smaller children or dogs that like to run, a fenced-in backyard can bring peace of mind and privacy. Additionally, a fence around the perimeter of your property can provide a level of home protection as well.

When it comes to fence installation, materials and labor can often range from $1,000 to $10,000 - but can go even higher.¹

Some factors that can affect price include:

Size of your yard
Materials (vinyl, chain link, wood, etc.)
Fencing style
Labor costs
Geography of the yard

Based on the above, you can speak with a contractor to figure out the type of fence that you want and how much you’re willing to spend.

Improvement #2: Add a Swimming Pool

No trips to the beach or a lake this year? Maybe it’s time to consider whether or not your family would enjoy having a swimming pool this summer.

Not only does a swimming pool provide fun for the entire family, but it could potentially increase your property value. Some real estate experts have estimated that an average 14x28 foot in-ground pool can boost your home value by five to eight percent. With that being said, the average cost to install a pool is around $50,000.² Depending on the price of your home, you may or not be getting some of that money back.

Improvement #3: Start a Garden

Starting something from scratch is an incredibly rewarding feeling, which is why building and growing a garden could be a great idea. It’s fun to get the whole family involved, and it can be satisfying to consume your homegrown fruit, vegetables and herbs throughout the summer and fall.

If you’re installing a garden in your yard, you’ll want to choose between an in-ground garden or a raised bed. Depending on if you decide to build it yourself or buy a prefabricated one, the pricing can vary. A simple wooden bed may cost a couple hundred to build or buy, while something more intricate or professionally installed could run you a few thousand. Topsoil usually costs around $12 to $55 per cubic yard, while produce plants and seeds are fairly inexpensive, so depending on how many gardens you make or how large your garden is, the price will vary.³

Improvement #4: Build a Deck

Building a deck is a great way to expand the living area of your home. If you want to tackle this yourself, you’ll save significantly on labor costs. There are different types of wood that many people choose when they are looking to build a deck, but the three most common ones are:

Redwood
Cedar
Pressure-treated wood made from various types

Redwood and cedar are naturally rot-resistant and insect-repellant. However, cedar needs to be maintained and sealed, but it resists warping and is incredibly stable. Cedar has been a decking choice for a very long time, but it does tend to splinter since it is a soft wood. Pressure-treated lumber is also rot and insect resistant, and it’s a common choice since it holds up well against the elements. However, due to the lower-grade wood, it is more susceptible to warping and splintering.⁴

Improvement #5: Build a Shed

If you have a lawnmower, power washer or any other type of home appliance that needs to be stored, a shed is a great option for this. Garages tend to serve as a “catch-all” for unused outdoor furniture and tools. A shed can free up some space and help keep your garage clean and organized. Price ranges vary greatly based on the type of materials you use, the size and if you DIY versus hiring someone. On average, it costs about $2,500 to build a shed with the range starting from $200 to $30,000.⁵

Improvement #6: Install a Fire Pit

Skip the trip to a campsite and utilize your very own fire pit instead. Depending on where you live, fire pits can be used all year round - from making smores in the summer to warming up in the cooler months. Whether you tackle this project yourself or hire a contractor is completely up to you.

Before moving forward, there are some questions to ask yourself first:

Do I want a wood-burning, natural gas or propane fire pit?
What shape and how big do I want my fire pit to be?
What materials should be used to build it?

Consider the above and figure out the type of firepit that you want to use that will best fit your backyard.

Improvement #7: Replace Your Roof

Of all the mentioned home improvements, repairing your roof is the least fun, but it is one of the most important. Roofs that have deteriorated over time can cause costly damage to your home.

Before hiring a roofing company, it’s important to understand some of the basics, such as:

Types of roofing materials
Tearing off shingles vs. layering more on top of the existing roof
How much of the roof needs to be replaced

There’s nothing better than getting outdoors and enjoying the fresh air, especially with winter officially on its way out. If you aren’t going to be traveling, why not make your home a destination? Putting in a little bit of TLC can make a big difference for the summer.

This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.