Outdoor landscaping upgrades not only increase the resale value of your home, but also bring increased happiness to homeowners who decide to stay in their homes.
“When it is time to sell, a home’s exterior is its first impression to potential buyers,” said Tom Salomone, President of the National Association of Realtors (NAR). “Realtors know that these projects—from flowerbeds to firepits—can bring homeowners who have no plans to sell even more enjoyment and satisfaction in their home.”
But which upgrades give the biggest payback at resale? According to the latest Remodeling Impact Report, published by the NAR with the National Association of Landscape Professionals, the following outdoor projects have an excellent return on investment—and a high degree of homeowner satisfaction.
Create a new front walkway.
By creating a natural, 30-foot-long flagstone walkway—complete with bark mulch, stone planters, flowering shrubs, and deciduous trees—owners spent an average of $4,750 and recovered 105% of their costs at resale.
Add a new patio.
While a new patio can be a significant investment, costing around $6,400, it often helps “cinch the deal,” according to realtors who participated in the study. It also generates a 102% return when the home is sold.
Build a new wood deck.
A new wood deck can also help seal the deal with a prospective home buyer. With an average cost of $9,450, it brings a return of 106% in a home sale.
Sod the lawn.
With only a $700 investment, sodding your lawn can not only help close the deal—but also bring a 143% return at resale.
Seed the lawn.
The biggest winner at resale? Seeding the lawn, which costs only $120 on average—and brings a whopping 417% return on resale. In fact, 22% of realtors surveyed in the study said that they recommend a complete lawn seeding to their customers.
Your ReeceNichols realtor can recommend upgrades that increase your home value. Contact us today.