Landscaping Can Boost Home Values
The value added to a home by improving the landscaping can vary based on several factors, including the current state of the landscaping, the quality and scope of improvements, the local real estate market, and the preferences of potential buyers. Here are some general considerations and potential benefits:
1. Percentage Increase in Home Value:
Various studies and reports have suggested that well-executed landscaping can increase a home’s value by 5% to 15%. However, this is a broad range, and the exact percentage can vary based on local market conditions and the specifics of the improvement.
2. Curb Appeal:
The first impression of a home often significantly impacts its perceived value. An attractive front yard can make potential buyers more interested in seeing the rest of the house. If two homes are similar in many aspects but one has superior landscaping, that home will likely sell faster and at a higher price.
3. Functional Landscaping:
Features such as patios, decks, and outdoor kitchens can increase living space and provide additional areas for entertainment. These functional improvements can have a higher return on investment compared to purely aesthetic enhancements.
4. Local Climate and Preferences:
In some areas, drought-resistant landscaping or xeriscaping might be more valuable due to water restrictions. In others, a lush green lawn might be more appreciated.
5. Maintenance:
High-maintenance landscapes might deter some potential buyers. If you’re upgrading your landscaping with the intent to sell, consider designs that are beautiful but don’t require excessive upkeep.
6. Trees:
Mature trees are often viewed positively by home buyers. According to some reports, mature trees can add thousands of dollars to a property’s value.
7. Professional Design:
Investing in professional landscape design can ensure a cohesive, well-planned space, which may contribute to a higher perceived value.
8. Overcapitalization:
As with any home improvement, there’s a risk of spending more on landscaping than you can recoup in a sale. It’s essential to find a balance between making improvements and ensuring you’re not the most expensive home in the neighborhood.
9. Neighborhood Standards:
The value that landscaping adds can be influenced by neighborhood norms. If every home in your neighborhood has pristine landscaping, not having it could detract from your home’s value. Conversely, if few homes have updated landscaping, the return might not be as high.
It’s always a good idea to consult with local real estate professionals when considering significant landscape investments. They can provide insights into what local buyers value most and how certain improvements might impact your home’s resale value.
