Value-adding outdoor remodeling
Want to get top-dollar when selling your home? Then focus on your lawn. According to a new study, simple maintenance and care not only increases a home’s appeal to buyers but also adds serious ROI as well.Verify your new rate (Nov 29th, 2020)
Eyes on the outside
According to the latest Home Remodeling Impact Report—a joint study by the National Association of Realtors and the National Association of Landscape Professionals—outdoor features can have a significant impact on a home’s ability to sell.
But those projects don’t have to be big—or expensive.
Realtors participating in the study ranked simple “landscape maintenance” as the No. 1 most value-adding outdoor project for today’s home sellers. An “overall landscape upgrade” and “standard lawn care service” came in at No. 2 and 3.
In terms of resale value, the three seemingly basic projects outranked even a new patio, wood deck, pool or outdoor kitchen. In fact, standard lawn care, according to the NALP, delivers a 267 percent ROI upon selling. Landscape maintenance offers a 100 percent ROI.Verify your new rate (Nov 29th, 2020)
Increasing curb appeal
The study also looked at what outdoor projects add appeal for potential homebuyers, and again, standard lawn care, landscape maintenance and overall landscape upgrades claimed the top three spots.
Realtors ranked tree care, a wood deck and a new patio as high-appeal projects as well. Water features and a new pool ranked toward the bottom.
A whopping 91 percent of Realtors said improving curb appeal—whether via these projects or not—is important before listing a home.
“Realtors understand that a home’s first impression is its curb appeal, so when it comes time to sell, a well-manicured yard can be just as important as any indoor remodel,” said Elizabeth Mendenhall, president of NAR. “Even homeowners with no immediate plans to sell can gain more enjoyment and satisfaction from their home by taking on a project to revive their outdoor spaces.”
Get today’s mortgage rates
Want to cover the costs of your outdoor projects before selling your home? A cash-out refinance or HELOC can help. Shop around and see what rates you qualify for today.Verify your new rate (Nov 29th, 2020)