A tricked-out backyard pays off in more ways than one

A Big Apple apartment with a 'central' view

͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  No images? Click here March 30, 2024 • Issue #135 Happy Saturday! This week, we’re sharing home features that will bring in a premium price if you sell this spring, as well as a New York City apartment perfect for having all your friends over for dinner.

Want to sell your house for more? Add some bling to your backyard

Getty Images Ever since COVID-19 locked us inside, we’ve been looking for creative ways to improve the stay-at-home experience. From decking out that spare room as a home gym to squeezing a home office into that little-used storage closet, homeowners have learned to make the most of their space. The desire to build a better living space also applies to the outdoors. (There’s nothing like a pandemic to make you realize how precious that backyard can be.) Amanda Pendleton, Zillow’s home trends expert, tells me that “people are enjoying more laid-back entertaining at home,” made possible by functional — and fun — features like outdoor TVs and under-the-counter fridges with temperature settings for a bevy of drinks. But these patio accents also provide a bonus beyond making your life more enjoyable: They make your home more attractive to buyers if you plan on selling. As Money reporter Mary Ellen Cagnassola writes, “A decked-out backyard (no pun intended) is especially appealing right now.” Just how appealing? According to a recent report from Zillow, home sellers could get up to 3.1% more than their asking price if they have some of these in-demand perks. That works out to about $10,000 extra on a typical home sale, which is pretty nice. So, what exactly are buyers looking for? These are the top five outdoor features that can help bump up your home’s value: Outdoor TV — 3.1% premium Outdoor shower — 2.6% premium Bluestone patio — 2.3% premium She shed (yes!) — 2% premium Pizza oven — 1.9% premium According to Pendleton, homes with these elements excite buyers because they signal that “this is a place to relax in comfort with family and friends.” But if you’re considering sprucing up your backyard just in hopes of fetching a higher price, you may want to reconsider. You rarely get your entire investment back on major home improvement projects. These upgrades are primarily meant to make your life more comfy and enjoyable; any extra cash you get when you sell should be icing on the cake. There are other projects, however, that won’t cost an arm and a leg and have a much better return on investment. Pendleton tells me these projects, which include a fresh coat of paint, a thorough home cleaning and decluttering, are relatively inexpensive but still “give a potential buyer a beautiful blank canvas that they can imagine themselves expanding upon.”

Outdoor TVs, ‘She Sheds’ and Other Features That Can Boost a Home’s Sales Price

Customer Satisfaction with Home Insurance is Falling, and Not Only Because of High Prices

Money Move of the Week

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Listing of the week

Coldwell Banker Warburg This home is a ‘walk in the park’ Located right across the street from New York’s famed Central Park, this Fifth Avenue apartment offers plenty of space and very nice views. Besides offering panoramic views of the park, this home has two bedrooms and three bathrooms. The primary suite includes ample closet space and a sitting area that looks out onto the New York skyline. And if you want all your friends and family to enjoy the view with you, no problem: From the living room to the dining room, there’s 45 feet of space where everyone can hang out. With the park right across the street, there’s plenty of opportunity for a leisurely stroll or a power-walking session. When it gets too cold outside, you can work out in the building’s fitness center. Best of all, though, is that you won’t have to worry about finding a parking spot on the street — because there’s a parking garage! The apartment is within walking distance of restaurants, shops and museums. If you want to make this $2.995 million Upper East Side home yours, contact brokers Lisa Tarnopol Desluariers and Loinda Reiner at Coldwell Banker Warburg. Coldwell Banker Warburg

’Til next time, P.S. Have you seen a unique listing on social media I should feature in this newsletter? Or have a question about housing or mortgages you desperately want answered? Let me know on Twitter at @LeslieLCook or via email at leslie@money.com. P.P.S. Have a friend who loves real estate or is looking for a home of their own? Please forward them this email or send them to the Money Moves subscription page.

Money’s Essential Home Buying Resources: Spring

On the hunt? Check out Money’s Mortgage Calculator, list of The Best Mortgage Lenders and look at the latest mortgage rates. Thinking of refinancing? Our list of The Best Mortgage Refinance Companies can help. You can also use our Mortgage Refinance Calculator or these refi tips. Key question: How much house can I afford?

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