Outdoor Living Space: Improve your Outdoor Living Area with Home Equity

Creating an Outdoor Living Space

Image courtesy of ARNOLD Masonry and Concrete on Flickr.

Enjoy the Great Outdoors – Creating an Outdoor Living Space

As warm weather approaches, you might be focusing your attention away from interior projects and back on the great outdoors. Working on your outdoor living space is one of the best ways to increase the level of satisfaction you get from your property year round. A successful remodel of your yard can give your family places to retreat and play, without having to leave home. If there’s a project you’ve always wanted to do, here’s how you can get started.

Create a budget for home improvements

As with any home improvement project, if you are going to improve your outdoor living area, you have to start with a budget. Get estimates for your projects from several contractors or other specialists to help accurately outline expenses. If you are utilizing savings to finance your home improvement, your budgeting decisions may be simple – you can’t spend more than you have. However, if you are looking into borrowing for your home improvement project, you may be tapping into your home equity with loans or home equity lines of credit. Home improvement projects are a perfect use of the equity in your home because they can potentially add value to your property. Talk with a home loan advisor or apply for a home equity loan or line of credit online as you are mapping out your plans and find out how much you can borrow.

Create a plan to improve your outdoor living area

There are many projects that will help you improve your outdoor living area. To decide which will be most beneficial, take into consideration how you and your family would ideally like to use the space. Then make a list of changes that will get you closer to your stated needs.

To get started, ask yourself questions about your current use of the space. If you have kids, consider the play space they currently have and what elements are missing. If you find that you are craving more time sitting outdoors among friends, evaluate how the space could cater to that. For more inspiration, consider these popular ideas for improving your outdoor living space:

Landscaping – The right landscaping can not only add curb appeal in the front of your home, it can transform the backyard into a relaxing retreat, add privacy and more. Create a mix of plants, lighting and decorations that will help you create the ambiance you are looking for day and night. You may also want to consider sod or other options to create a richer, greener lawn.

Deck or sitting area – Creating a dedicated place to sit back and relax in your yard may be all the encouragement you need to enjoy it more often. Consider building a deck, screened-in porch or a paved seating area with a fire pit or outdoor fireplace that can be used with friends and family all spring and summer and even into the fall.

Outdoor kitchen – Food is often at the center of social and family gatherings. An outdoor kitchen will enable you to enjoy eating and preparing meals outdoors, without stepping away from family and friends.

Children’s play area If you have children, giving them a place to safely play and explore outdoors can be important to their happiness and yours. Consider adding a swing set, sand box, or water table to the yard to help them create a new adventure every day.

Privacy Fencing – Privacy fencing is a great way to create space between you and your nearest neighbors, and to keep your kids safe. Look for ways to use fencing and landscaping elements to surround your property and develop the home retreat you are craving.

Finance improvements to your outdoor living space with home equity

Making one or any combination of these improvements to your outdoor living area can help you to get more of what you want out of your home all year long. Consider putting your home equity to good use through a home equity loan or home equity lines of credit and turn your back yard into the space you will love.

Sponsored content was created and provided by RBS Citizens Financial Group.

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