By Marilyn Kennedy Melia
Since the pandemic, the Great Outdoors has moved up a few notches in consumers’ estimation. Many ordinary backyards, “have been transformed into oasis with pools, patios, plants and greenery,” says Jessica Lautz, VP of research at the National Association of Realtors® {NAR}.
But home sellers get the biggest boost in sale price for their dollar invested with ho-hum services like lawn care.
The NAR, along with the National Association of Landscape Professionals and HouseLogic.com, conducted a survey to find which projects bring homeowners the most “joy” versus profit.
Specifically, the study found that lower “joy” rated services like standard lawn care [includes six applications of fertilizer and weed control] averages $415 nationwide in cost but boosts value by an average of $900. And landscape maintenance, which includes season-long lawn mowing, mulching, pruning shrubs and planting 60 flowers, costs an average of $4800 and boosts value by $5000.
Keeping Up A Front
“There are two main reasons why landscaping service may provide a greater return on investment {ROI} than pricier, splashier projects,” says Erik Johnson, University of Alabama professor who has studied the value of curb appeal.
“First, landscaping services are often oriented toward the front of the property. This provides a more immediate impact on potential homebuyers. Second, landscaping quality may also convey information on the generalized upkeep of the property.”
Seeing Your Profit Growth
A nationwide survey on ROI estimates for outdoor projects is a guide for individual homeowners, whose own price boost will depend on their particular home and market, notes Memphis residential appraiser Eric Trotz.
Yard upkeep has high curb appeal that usually impact sale prices. Plus, buyers tend to view photos of the front of a home first when shopping online, Trotz notes.
And, though, “since the pandemic, there has been more appreciation or outdoor features,” he thinks some of the survey ROI estimates are too high. Patios, for instance, are pegged at a 95 percent payback, while Trotz says 60 to 70 percent is more realistic.