Many homeowners understand the importance resale value has on their home. However, many fail to realize that resale value is also impacted by the exterior of a home. Your landscaping can have a big affect on your resale value. Before planning your next big landscaping project take these factors into consideration.
1- Return on Landscaping Investment
According to Lawn and Garden Magazine, homeowner’s see a return of less than 60 percent of their landscaping investment back when they sell the home. Before planning an elaborate patio with outdoor fireplace take into account how much you will use it and if it is on par with the home value and the rest of the neighborhood. It is possible to “over” renovate your landscaping and see a lower return on investment. Also consider if your outdoor renovations are too personalized. A pool can be a big deterrent for many buyers, but almost all homeowners enjoy having some form of outdoor living space.
2- Keep up with your Landscaping
One way to severely impact the resale value of your home is to have landscaping that needs a lot of work. Many prospective buyers will surpass looking at your home if they see a house that is not maintained on the exterior. Things like old trees that are dangerously close to the home, a fence that is in disrepair or shutters that are in serious need of painting can result in less showings of your home and ultimately a lower sales price.
Ultimately, good landscaping does not have as big of an impact as negative landscaping. Unfortunately many prospective buyers will take for granted the work you’ve done on the exterior of your house. However, negative landscaping can prevent your home for selling at its true value. Keep these items in mind while planning your next landscaping project and you’ll reap the benefits of a higher home value.