Every Little Bit Counts
Not many people realize that landscaping and various outdoor projects can add value to your property. Home values are determined by comparing homes, their features, and their condition. So when it comes to attempting to get the most for your property, small upgrades and basic maintenance can make a big difference.
Some features add value by aesthetically appealing to buyers while others add value by maintaining an ideal condition. The 2018 Modeling Impact Report: Outdoor Features by the National Association of Realtors estimated that basic lawn care service would recover 267% of the cost of investment. A pool, on the other hand, is only estimated to recover 43% of your investment, yet pool homes are quick to sell in Florida. Both the pool and lawn care service will bring more buyers to your home, however, the lawn care service provides a greater return on investment.
Landscaping Projects to Consider
Lawn Service – As mentioned above, paying for regular lawn service is one of the single most beneficial things you can do for your home value. Keeping the lawn maintained shows potential buyers you are keeping up with your home. It also increases curb appeal, this gets more people into your home. More showings equal more offers.
Trees – Florida Realtors reports planting trees can add up to 15% to home value. They can also help reduce heating and cooling costs. Just make sure to think ahead when you plant. Consider the position of the septic tank, well, sidewalks/ driveway, pool, or even roof. If a buyer perceives a future problem due to the location of the tree, it will harm, not help the sale. Well-placed trees will only add value as they age – mature trees are more desirable!
Some Florida trees recommended are:
- Live Oak
- Crape Myrtle
- Maple
- Magnolia
- Citrus
- Loquat
- Mahogany
- Slash Pine
- Banana
Mulch – Probably the easiest project for any homeowners to complete, laying mulch goes hand in hand with maintaining your lawn. In addition to adding to your curb appeal, mulch improves the soil, helps prevent weeds, and conserves moisture. Fresh mulch has reported a 126% return on investment.
Additional Projects to Consider
There are some outdoor projects that are a bit more in-depth than the ones previously mentioned yet all of them will add value monetarily and aesthetically.
Fire Pit – This trend has become increasingly popular since the Pandemic. Which makes sense, with all of us stuck at home. According to the 2018 Remodeling Report, a fire feature could return 67% return on investment. This depends on the size and materials used with DIY fire pits reporting a higher return on investment than professionally constructed, gas fire pits.
Fencing – While there has always been a large number of buyers looking for homes with fencing, since the pandemic, having that privacy has become even more important. Whether it’s about having private space for the pets, the kids, or quite simply for safety/ privacy, fencing can be a great project to undertake. The return on investment for a fence is between 50-70%, depending on the materials used. Materials with higher maintenance will have a lower return on investment. With that being said, a fence will make your home more appealing than similar houses without that feature. In this market that can translate to additional offers on your home.
Landscape Lighting/ Landscape Design – While landscape lighting on its own reports to only return 50% on investment, when paired with landscape design it can raise your home value by 20%! While any addition of landscape lighting will increase value as it adds a level of security, the real benefit is in pairing design and lighting. The idea is to highlight the house and landscape while providing security. Landscape lighting illuminates your yard, silhouettes your trees, keeps everyone safe from tripping, and deters burglars. Just make sure to check out LED and solar options to keep maintenance costs low.
Irrigation System – With low maintenance being a theme this year, it’s not surprising adding an automated irrigation system can return 86% on investment. Homeowners/ buyers want that beautiful yard but don’t want to spend a bunch of time maintaining it.
Making An Impression
Whether you are looking to sell your home soon or not, your yard and the front of your house are reflections of you. Always put your best foot forward. Remember to consider maintenance and care as well as your return on investment before any home updates. Talk to your Real Estate Agent or check local listings to see what the market is like in your area. While we always want to be improving, it’s wise to know when you are simply improving or actually over-improving based on your area.
Sources:
- https://www.bhg.com/gardening/landscaping-projects/landscaping-projects-that-add-value-to-your-home/
- https://www.lawnstarter.com/blog/studies/home-value-lawn-landscape-increase-decrease/
- https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact-report-outdoor-features
- https://3xlsey17pnzh3nf35w1wwnug-wpengine.netdna-ssl.com/wp-content/uploads/2019/06/real-estate-top-agent-insights-q2-2019.pdf
