How to Boost Your Home’s ROI with Landscaping
You spent ages picking out the best tile for your updated bathroom and did countless comparisons to select the right appliances for your kitchen remodel. However, you’ve also neglected to think about your landscaping as you’ve been taking care of all the projects inside. If you want to increase the value of your home, you need to focus on the following top landscaping projects.
Landscaping Creates a Welcoming Atmosphere
If you want to increase your home’s value because you’re interested in selling it, updating the landscaping is vital. First impressions are important with your house as well. The first impression every potential buyer gets is your front yard, so you want to have a yard that’s landscaped. Even real estate agents will admit that they notice buyers are more excited to tour a house that looks inviting on the outside as opposed to one that looks barren and empty.
Does an Exact Return on Investment Exist for Landscaping?
Now that you understand the importance of landscaping your yard, you may be wondering if an exact return on investment exists for the project. However, as with many other aspects of real estate, it depends more on your location and your home.
HGTV “Curb Appeal” host John Gidding said clients on the show put in $20,000 of landscaping and received $200,000 over what they originally paid for the home one year prior. However, even Gidding admits a result like this one isn’t common. Instead, he believes the return on investment is around 150 percent. His advice is to learn about the architectural style of your home and put together a plan for landscaping that matches it.
You Can Landscape With Little to No Budget
Even if you have little or no money to spend on your landscaping, you can make your yard look better in several ways. If you don’t have any money to spend on landscaping, your first step is to make sure you keep your yard free of weeds. You’ll want to mow and water the grass to give it a full, green look. Finally, make sure you keep any trees or bushes neatly trimmed to showcase the house.
If you have a few hundred dollars to spend, begin by edging your yard and adding mulch for a clean appearance. Next, plant some annuals and perennials in the flower beds for a bright pop of color. Give your front door a fresh coat of paint, add house numbers that match the style of your home, and place some potted flowers near the front door for a cheery welcome. Additionally, don’t forget what a good pressure washing can do for the exterior and walkways of your house.
Plan for Deck or Patio Additions
If you have more money to spend and you don’t have a deck or patio, consider adding one. Backyards have now become an extension of the house, and having an outdoor living space where the family can hang out and enjoy the fresh air adds plenty of value to a home. In fact, a patio typically costs around $6,400, yet it has a return on investment of 102 percent. Even though wood decks are more expensive and can cost around $9,450, they also have a slightly better return on investment at 106 percent.
If you don’t have that amount of money to spend outside, you can still make an attractive outdoor living area. For around $670, you can create a 100-square-foot area with permeable paving and a fire pit. This easy project is a simple way to get the living space that buyers desire and add value to your home.
Keep Spending in Check
Even though landscaping has an excellent return on investment, keep in mind that you can go overboard.
Spending more money doesn’t always equal getting more money back. In fact, extensively landscaped yards can turn off some buyers. Even though beautiful flower beds look amazing, potential buyers who aren’t gardeners will look at the beds and see all the maintenance that goes into keeping them looking attractive. Therefore, you’ll want to keep any gardens or flower beds small and low key to appeal to the broadest range of people.
Plant Some Trees
While some people feel intimidated by extensively landscaped flower beds, people love having trees in their yard. Trees also offer plenty of benefits. First, planting trees in the right location around your yard can give you natural shade and protection from the sun, which helps lower energy costs. Additionally, unlike nearly everything else in life, trees actually appreciate in value over time. You can go to the nursery today and buy a sapling for around $10. When that tree matures, it could add anywhere from $1,000 to $10,000 to the value of your home.
If you’re looking to increase the value of your home over the long term, buying and planting small trees is better because they’re cheaper. However, if you’re thinking of selling your home in three to five years, you should buy and plant larger trees instead. Even though they’re more expensive, you won’t have to wait as long to get the full effect in your yard.
If you live in an area prone to droughts or you want an environmentally friendly landscape, consider xeriscaping, a landscaping design that requires little or no water. Since around one-third of household water use goes to landscaping, xeriscaping can also save you money. Plus, xeriscaping doesn’t mean you have rocks and cacti in your yard and nothing else.
Instead, xeriscaping focuses on grouping plants with similar watering requirements, using native plants that have adapted to the climate where you live, and cutting back on the amount of lawn grass in your yard. Lawn grass is the worst offender against water conservation.
If you want to add value to your home, the above tips and ideas on landscaping can show you how to get the best return on investment for your money.