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Homeowners looking to tackle a remodeling project should head outside according to a new report from the National Association of Realtors® and National Association of Landscape Professionals. The 2016 Remodeling Impact Report: Outdoor Features shows that not only can outdoor remodeling projects add value to a home on resale, they can also bring advantages to homeowners planning to stay in their homes.
It’s no secret that homeowners are bringing the indoors outside with increasing regularity. Yards, patios and decks are now often primary foundations for entertaining, cooking, playing, and simply relaxing. For those who have admired a friend’s landscape and questioned whether the investment was “worth it,” take confidence in knowing the survey says “yes.”
According to the report, which analyzes the reasons why homeowners complete outdoor remodeling projects and the value - both financially and emotionally - the finished projects bring to the homeowner, taking care of your home’s lawn will bring some of the most bang for the buck. Looking at the outdoor projects that produce the largest financial windfalls at resale, the survey found seeding the lawn the highest, recovering 417 percent of the project cost at resale followed by implementing a standard lawn care program (303 percent recovered) and updating landscape with sod (143 percent recovered) as the most cost-effective projects.
When it comes to the enjoyment homeowners gain from these projects, a new pool comes in at number one, receiving a perfect 10 Joy Score. Ninety-five percent of homeowners who completed this project say they have a greater desire to be at home. The next most appealing project is an overall landscape upgrade, with a Joy Score of 9.8, followed by a new wood deck, with a Joy Score of 9.7. When asked why homeowners took on these projects, the most common answer was to add features to their home and improve livability.
The complete findings of the report that polled realtors, homeowners, and landscape professionals can be found here.
Whether you are looking at enhancing your outdoor living space for your own enjoyment or to help with the sale of your home, go ahead and dream big. Your investment will be rewarded. Contact a landscape professional to find out how to bring out the best in your outdoor living space.