How Does Landscaping Add Value To The Home
In the real estate world, a return of investment is imperative. One way to add value to your home is to increase its curb appeal. Any exterior improvement to a property, whether it be a landscaped front yard, a garden or an outdoor deck, increases the property’s value. Compared to a bathroom or kitchen remodeling, landscaping can be performed for less but can give a return of as much as double the home value amount.
WORK ACCORDING TO YOUR TARGET MARKET
Before starting on any exterior improvements, determine your target market first. From there, decide on what elements you want to add to increase the curb appeal. It is also important to note that buyers appreciate a garden or a yard that is functional and requires less maintenance. Therefore, always opt for improvements that do not need much time and cost to maintain.
TOP OUTDOOR FEATURES
Based on the National Association of Realtors (NAR) 2016 survey report in collaboration with the National Association of Landscape Professionals, the top outdoor feature that is most likely to add value to a home for resale is a landscape upgrade, whereas, the top project that appeals most to buyers is a standard lawn care program.
A landscape upgrade, according to the said report, can include installation of natural flagstone walkway, adding planters, flowering shrubs, tall trees, mulch and landscaping bark. These upgrades are collectively estimated to cost between $4,750 and 5,000 but the percent of value recovered from the project would be around 105 percent.
For landscape upgrades, the report suggested focusing on softscaping, sodding a lawn, seeding a lawn, adding a fire pit or a fireplace. Softscaping a lawn with five trees, 25 shrubs, 60 perennials, and adding boulder accents and natural edging costs $7,000 and the percent value recovered from the project is 100 percent.
Sodding a 1,000 square feet lawn would cost around $700 and the percent of value recovered would be around 143 percent. Moreover, seeding a 1,000 square feet lawn costs around $120 but the percent of value recovered is 417 percent.
Installing a fire pit can be costly and is estimated at $4,000 while a fireplace installation would cost $11,000 on an average but the value recovered from the projects is only 78 percent and 60 percent respectively.
In addition, according to Australian professional landscape designer, David Limburg, a pergola costs around $500 but the value added can be as much as $3,000. An outdoor seating area made of recycled pavers would only cost $200 but the added value is as much as $4,000. Even simply adding mulch from Pine bark or Eucalyptus, which is completely free when you obtain it from local tree removal companies, can add $1,000 to the total resale value of the property.
To get more value for your upgrades, look for non-expensive materials to add elements to your garden or yard. For instance, to lessen the cost for softscaping, choose indigenous plants and native trees. Opt for a DIY pergola to lessen the cost.
Think about opting for fake turfs versus real ones. Artificial ones do not require regular maintenance such as watering, weeding, cutting and fertilizing. They look green throughout the year. The only downside is the expensive installation cost.
Proper lighting can add a dramatic effect to a landscaped area. If lighting’s are properly placed and good landscaping is highlighted well, it can easily transform an ordinary garden into a breathtaking scenery. Based on the National Association of Home Builders’ (NAHB) survey list of most wanted outdoor features, 41 percent responded that outdoor lighting is essential while almost half of the respondents say it is desirable.
There is no need to overcapitalize on outdoor improvements. All you need is strategic placement of the elements arranged in such a way that it is aesthetically pleasing to the eye. So, does landscaping add value to home? The answer is, definitely!
For more information, contact Southcity Landscaping today.