Find out which outdoor projects will get you the largest ROI
A recent survey by the National Association of REALTORS® and the National Association of Landscape Professionals has found that many homeowners have been focusing on improving their outdoor space since the pandemic began. In fact, 92% of REALTORS® recommend that sellers enhance their curb appeal prior to listing. General landscaping maintenance, standard lawn care, and tree trimming are the most frequently recommended outdoor features. According to NALP CEO Britt Wood, a well-maintained yard with healthy outdoor living spaces and greenery can help the environment, increase home values, make communities more desirable, and improve people's mental and physical health.
The COVID-19 pandemic has prompted Americans to transform their outdoor spaces into oases with pools, patios, plants, and greenery, according to Jessica Lautz, NAR's deputy chief economist and vice president of research. These features can also make a property more attractive to potential buyers.
The NAR 2023 Remodeling Impact Report indicates that although most homeowners desire an in-ground pool or an outdoor fire feature, simple lawn care and landscape maintenance can have a higher return on investment (ROI). "Standard lawn care service" involves six seasonal applications of fertilizer and/or weed control on a 5,000-square-foot lawn, while "landscape maintenance" entails mulch application, regular lawn mowing, pruning shrubs, and planting around 60 perennials or annuals.
Interestingly, the outdoor projects that give homeowners the most satisfaction may not always earn the most at resale. For example, the survey found that standard lawn care service, which is one of the least expensive projects, has the highest cost recovery but one of the lowest "joy" rankings from homeowners. On the other hand, an in-ground pool, landscape lighting, a new patio, a new wood deck, and a fire feature are outdoor projects that received the highest satisfaction marks from homeowners. Conversely, an outdoor kitchen, tree care, standard lawn care service, and installing a yard irrigation system received the lowest "joy" scores.
Finally, the majority of landscape professionals surveyed noted that the size and scope of outdoor home improvement projects have increased since the pandemic began. REALTORS® have also observed that the most common landscape projects during this period are the addition of an in-ground pool, landscape maintenance, and a new patio.
John Reuter
Integrity Homes
Broker/Owner
608-669-4226
Real Broker, LLC
Source: Melissa Diddmann, REALTOR Magazine
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