Adding a sunroom to your home is one of the best investments you can make to add value to your property – with the added bonus of improved comfort for you and your family. There’s no place like home. For many of us, our homes are our greatest assets. But they are also where we spend time with our loved ones, make countless memories, and build our lives. That is why it is only natural that over time, homeowners should want to make gradual improvements to their homes. Renovating your home can improve your lifestyle, but can also have long-term financial benefits by making your home more valuable. According to the CoreLogic Home Value Index, combined capital city home values have grown by 6.1% over the 12 months to July 2016. As of May 2016, the median house price in Australia was $580,000. Homeowners are enjoying more power and prosperity, and are generating healthy Returns on Investment (ROI) on any upgrades that they make to their homes. Sunrooms are an example of a great lifestyle upgrade and a wise financial investment for your home. Here’s why:
A Desirable, Future-Proof Feature
Millennials are entering the property market and will be the real estate power brokers of the future. Make no mistake, they know what they want. According to Time Magazine, an open floor plan with flexible living space was second only to an updated kitchen on millennials’ list of most desired features of a home. Using shade solutions to create sunrooms allows you to strategically increase the amount of living space in your home, creating a highly desirable feature and lifestyle solution. This upgrade can bump up your home’s value by anywhere between 4 to 6%.
A Flexible Space
In recent years, sunshades and retractable awnings have become one of the most popular ways for homeowners to invest in their homes. Many of these implementations are used to create great outdoor living spaces, adding a whole new living zone to homes. The concept of the “outdoor room” was previously little understood and rarely talked about, except in design and architectural circles. The renewed focus on flexible living arrangements means that today, outdoor rooms are a fairly common and in-demand feature in many Australian homes. These spaces are completely customisable and versatile, offering anything from outdoor cooking and food storage equipment, to bar facilities, lounge furniture, sophisticated lighting, floor coverings and even sound systems. While they’re ideal for summer, many also include fireplaces, making them a great winter escape too.
Sunrooms Increase Natural Light
With large windows and retractable awnings, sunrooms are the ideal way to make the most of the sun’s natural and warming light. Natural light can have a big impact on our sense of wellbeing, so it’s no surprise that both homeowners and home buyers see it as a key consideration when assessing a home’s worth. Indeed, a recent survey of second and third home buyers cited natural light as a key priority in decisions regarding investment properties. Over 80% of survey respondents were prepared to spend up to $5,000 to ensure their new property was built with natural light as a priority, while 17% of respondents were willing to spend more than $5,000 on additional means to enhance their home’s access to natural light.
A Great Part Of A Larger Project
Sunrooms are a wonderful addition to the internal structure of your home, but they are often part of a larger home improvement project, many of which involve outdoor landscaping. This is no surprise because sunrooms and outdoor landscaping work together to create great entertaining areas for relaxation and solitude. Whatever the purpose of your sunroom, you can maximize the value of your investment by putting some thought into how you landscape the space around it. The good news is that, like sunrooms, landscaping improvements represent a great investment in your home. A Michigan University study found that homeowners achieved a 109% return on every landscaping dollar spent. The same study also found that good landscape design – as judged by plant type, size and design sophistication – increased perceived home value by 5–11%.
With our ventilation, sun protection and outdoor solutions we enable Architects, Project Developers and Investors to design spaces that will soon feel just as pleasant as a refreshing walk through the forest. That is Renson’s promise.