Stacey Wyatt has his finger on the pulse of Roswell real estate. We sat down to chat about home renovations and the market.
Roswell City Lifestyle: With regard to real estate, what value does a beautiful outdoor space have in the buyer's overall assessment of a property?
Stacey Wyatt: Since being cramped up inside during the COVID years, buyers have really placed a lot of value on outdoor spaces, especially in the luxury market. There is a disproportionate amount of people who haven't returned to the corporate office and are working in home offices all day long. Having outdoor spaces they can retreat to has become a must!
And, for the seller, what sort of ROI can they expect from improvements to an outdoor space?
Whether real or perceived, outdoor spaces add value to a home. When making a significant investment into an outdoor space, a homeowner will want to consider how long they will live in the home. The longer they are in the home, they not only get the beneficial use of the space, but they will also get the benefit of home appreciation, provided the design choices aren't out of the ordinary. In the highly desirable Metro Atlanta Area, the appreciation forecast remains strong, meaning any investment (unless extravagant or over the top) should be recouped in 3 to 4 years.
What market trends can you share with our readers?
The Metro Atlanta Market remains solid despite the downward pressure mortgage rates, hovering in the 7% range, are putting on Buyers. Housing inventory remains historically low, which is keeping home prices on the rise, albeit more moderate than in prior years. If you are considering buying, we highly recommend you lock in a home at today's prices... because the second the mortgage rates make a significant move downward, you will see substantially more buyers enter the market which will drive prices even higher.
What does your perfect Sunday on the patio look like?
Our ideal Sunday starts with coffee on the patio or around the pool catching some rays and enjoying the morning air. We truly enjoy afternoons in the pool as a family, relaxing or playing games and enjoying a refreshing summer drink. We love to cook on the Blackstone and enjoy dinner at the picnic table on the deck. Then, there's nothing better than to end the night in the hot tub or around the fireplace watching a movie and making s'mores.
Tell us about the two pictured projects in Tiffany Place in Roswell.
The covered patio was built for entertaining and a family hangout. They are very social and have neighbors over often to watch sporting events, grill out, drink, and play backyard games. Likewise, it is their favorite spot to crank up the surround sound speakers and watch their favorite movies. The astroturf has become very popular in higher-end homes to reduce maintenance and allow for better drainage, and offer a place dogs can run and play and not get dirty or tear up the yard.
Stacey Wyatt Real Estate Group
