Patio, Car Port or New Driveway?

[splais]

we have a small conundrum. Recently purchased a small home (1400sf) in Boynton Beach Florida. The home has been nicely remodeled inside but needs several projects outside. At this time we can only afford one project and would like to do the one that adds the most value to the home. The three projects are to add a backyard patio (nothing there now but grass), put in a new driveway (current driveway all cracked up), or, put in a two car carport (there is no covered parking presently). I would love some input on which would be the best first project, if it turned out to be the only one we ever did. thanks.

 

[nstanbru]

I don't know anything about your market with respect to the contributory value of the projects you mentioned. But, if I were to buy a home in a state where 100+ degree summer days are common, I would want covered parking, preferably a garage.

 

[JTip]

What do your neighbors have that you don't?

The market, or neighborhood, likes 'conformity'. Your greatest return would be to conform with what the neighbors have as amenities.

 

[RSW]

What do your neighbors have that you don't?

The market, or neighborhood, likes 'conformity'. Your greatest return would be to conform with what the neighbors have as amenities.

Good answer.

 

[splais]

The home is in an "old florida" neighborhood where most of the houses were built in the 1940's. Small two and three bedroom homes in the 1200-1300sf area. Nearly every home has had a garage converted into a bedroom. Subsequently, about half the homes have no garage or carport. But a number have had carports added at some point after the garages were converted. Now the comment about "matching" the neighborhood makes sense to me. My question was more one of numbers - would any of the three options tend to add more value. Off course the whole area of sales appeal and livability is a whole different matter.

 

[Tim The Enchanter]

Off course the whole area of sales appeal and livability is a whole different matter.

I think this is the thing that matters. Whichever thing improves the appeal and utility of the property most is probably the most profitable improvement.
I'll guess that's also the one you feel is most important to do, or most useful to you.

 

[chad hampton]

As others have said, not sure any contribute any more value than the other.

Speaking as a former resident of FL (as well as a former FL appraiser), in the FL sun, a decent carport is desirable. No one wants to spend money on a nice car only to have the paint job go to hell in that sun. FL also gets severe storms, which can damage a car.

But a back patio is nice as well.

I also have a background in construction, so excavating concrete/asphalt is easier when you can use a machine and aren't constricted like you would be under a carport. So I think the driveway would be cheaper if you did it first. Or at least along with the carport.

 

[Mike Kennedy]

The home is in an "old florida" neighborhood where most of the houses were built in the 1940's. Small two and three bedroom homes in the 1200-1300sf area. Nearly every home has had a garage converted into a bedroom. Subsequently, about half the homes have no garage or carport. But a number have had carports added at some point after the garages were converted. Now the comment about "matching" the neighborhood makes sense to me. My question was more one of numbers - would any of the three options tend to add more value. Off course the whole area of sales appeal and livability is a whole different matter.

Feasibility Planning is a wise course of action. Contact an experienced LOCAL Appraiser and engage him/her to conduct a Neighborhood Market Analysis on the highest selling local home sale in your specific neighborhood in the past 2 years based on both non-MLS and MLS sales which will illustrate highest Buyer demand for specific additional dwelling and additional amenities. Spending a couple hundred $$ prior to spending several thousand $$ is the way to go. Let the actions of typical local buyers guide you.

 

[Sid Holderly]

Don't do the driveway (if asphalt) if you are going to have a large truck deliver for later projects. A survey of the neighborhood is the best approach.

 

[Terrel L. Shields]

If I were betting, I would say that the covered garage, even a cheap canopy would provide the most benefit whether it added more value or not. Some of those can simply be screwed into the ground with anchors and removed when you leave (in fact, if you went to sell, you might remove it first if it isn't typical in the neighborhood.) And many cost less that $2,000. Fix the driveway then put one over the parking area.