When the idea of landscaping comes to mind, often one of the first questions asked will be about how it will affect your housing value. It can be quite costly and while you may be putting the effort in to enjoy yourself for now, when it comes time to sell, will you make your investment back?
Does Landscaping Increase Housing Value?
If you find yourself asking this question, it may be reassuring to know that you are not alone. For many years, researchers have been following market trends and searching for patterns of correlation between housing value and landscaping. The general pattern indicates yes. A home’s exterior that is well-landscaped has the potential to increase a home’s worth between 5 and 15%; however, not all landscaping features will reap more rewards than others.
The research has shown that the highest value landscaping projects don’t just add to the aesthetic of the yard, but the lifestyle that can be found there. As buyers search from home to home, they aren’t just looking for a yard that looks nice. They are looking for one that offers comfort, convenience, and low-maintenance. They want somewhere they can enjoy, with the space being used well, and features that may reduce their overall costs in keeping their home as beautiful as the day they bought it.
How to Increase Your Value with Landscaping
To best assess how remodeling may affect sale value, the research department at the National Association of Realtors has put together a Remodelling Impact Report that specifically focuses on outdoor features. It details the impact that landscaping projects have had on home values, based on real life, day to day experience of realtors. It not only illustrates the potential these features, but also how much money you can typically expect to get back from the resale of your home.
Maintaining the Lawn: Regular maintenance of your lawn, landscape, and trees is an easy way to return your investment, with a typical return of 100-250%. By mowing, weeding, planting, pruning, and fertilizing regularly, you create a polished, put-together look that buyers are looking for to enjoy their beautiful new space. Just putting your home’s best face forward with regular maintenance makes a huge difference.
Sprinklers: When buyers are looking for their new home, the last thing they are looking for is a yard that will be difficult to maintain. Installing a sprinkler system offers them the potential of less work for more reward, allowing them to simply flick a switch and keep their lawn fresh and green all year. Typically this project will see an 85% return or more of your investment.
Pathways: Another perfect project for adding to the polished look of the yard, clean stone or brick pathways guide not only the feet, but also the eyes through the space. It creates a narrative for enjoying the yard, especially when lined with trees, shrubs, perennials, or evergreens, which add aesthetic and comfort. This investment will see a return of over 80% on average.
Decks & Patios: A great way to create a space to enjoy the outdoors as an extension of your indoor space is by improving your landscape with a deck or patio. They usually will see 70% of their value returned, as well as the fun family times enjoyed together prior to selling your home
Fireplaces & Fire Pits: There is just something about a fire that draws us together, creating a sense of community. While they may have that impact on us as we use them, though, they tend not to have quite as much of an effect on resale value. It is normal to see about 65% of your investment returned on a fire feature.
Pools: When the summer days are long and hot, few things are as refreshing as a cold dip in the pool. They are a natural gathering place for family and friends, so it’s understandable that homeowners may expect them to return quite a bit of their investment. If you plan to enjoy them yourself, they certainly add a lifestyle benefit that can’t be beaten, while likely giving you a 50% return.
Whether you’re looking to improve the look of your yard or to create more ways to enjoy your outdoor space, landscaping can be a great way to achieve your dreams. Plus, it has the potential added benefit of adding some value to your home’s resale value – the added “curb appeal” of your home will be sure to outshine others in the same price range, making yours the local 1st choice.