You already know that home improvement projects can add to the value of your home and some projects are just for you and won’t add to the resale value of your home.
So, I would suggest that in your own home, you should consider what you would find most useful. Don’t just install a landscape project because it can add to your resale value. The market changes quickly and what is a must have this year can be passe by the time you want to sell. If you chose something you need or want at least you will get the use out of it, until you decide to sell. If it adds to your resale value, you’re in the bonus round.
Landscaping can turn an ordinary home into an extraordinary property with the right use of design to show off the home and make it an organic part of the landscape. Imagine Frank Lloyd Wright’s waterfall house, without the water features. You get the idea.
However, even adding a desirable feature can turn resale value up a notch or two. But which projects are desirable?
If you are considering a landscape project, you might want to read this list of desirable features as compiled by Zillow, the real estate website. These are the landscape projects that made the biggest impact on resale value. There are a few surprises.
Zillow identifies the home improvement projects that can help a home get a higher price at sale time, effectively increasing their value, and several outdoor projects were on the list—including some surprising ones.
This list is based on identifying keywords in listing of homes that eventually sold for more than their asking price. The methodology isn’t perfect, but it gives us an interesting glimpse. It isn’t as if a landscape project will magically transform what your home is worth.
Number one out door project that resulted in a home selling for more than the asking price is an outdoor kitchen: Homes with outdoor kitchens mentioned in their listings sold for 24.5 percent above asking price.
Next most valuable features, in order of value are solar panels, outdoor lighting, an outdoor fireplace or pit, and a rooftop deck or balcony. All were featured in homes that sold for more than 15 percent above ask price.
Other outdoor features were fire pits, hot tubs, picket fences, and pergolas.
So keep this list in mind while you are planning your outdoor projects this year. Now these are all additional features that assume the rest of the lawn and landscaping is up to snuff. Obviously, if your entrance needs help or your plants are overgrown or your lawn a bit of a mess, you need to start there and not with a fire pit if you are hoping to add to your home’s value. Plus these landscaping updates can definitely make for a more comfortable outdoor space whether you are selling or not.
Are considering a landscape project this season? Leave a comment below or contact us for ideas.