Outdoor Improvements - what makes sense?
In the midst of the pandemic, many homeowners have turned their attention to improving their outdoor spaces, and it seems that this trend could pay off when it comes time to sell. A new survey from the National Association of REALTORS® and the National Association of Landscape Professionals suggests that 92% of REALTORS® recommend enhancing curb appeal before listing a property, with the most common recommendations being general landscaping maintenance, standard lawn care service, and tree trimming.
The 2023 Remodeling Impact Report: Outdoor Features highlights that while homeowners often desire outdoor fire features and in-ground pools, the return on investment for simple lawn care and landscape maintenance can be higher. The report defines standard lawn care service as six seasonal applications of fertilizer and/or weed control on a 5,000-square-foot lawn, and landscape maintenance as mulch application, regular lawn mowing, pruning shrubs, and planting around 60 perennials or annuals.
However, it's important to note that the least expensive projects, such as standard lawn care service, received some of the lowest "joy" rankings from homeowners. In contrast, the following outdoor projects received the highest satisfaction marks:
In-ground pool
Landscape lighting
New patio
New wood deck
Fire feature
On the other hand, the items that ranked the lowest on homeowners' "joy" scale were:
Outdoor kitchen
Tree care
Standard lawn care service
Installing a yard irrigation system
Moreover, the report reveals that the majority of landscape professionals surveyed have seen an increase in the size and scope of outdoor home improvement projects since the pandemic began. REALTORS® noted that the most commonly seen landscape projects since the pandemic started have been the addition of an in-ground pool, landscape maintenance, and a new patio.
The COVID-19 pandemic has changed the way we use our homes for daily living, relaxation, and entertainment. As such, many homeowners have transformed their outdoor spaces into havens for relaxation and entertainment. As Jessica Lautz, NAR's Deputy Chief Economist and Vice President of Research, states, "Homeowners have embraced their outdoor spaces, transforming them into oases with pools, patios, plants, and greenery. These outdoor features...can also attract buyers if the owner wants to sell."
In conclusion, improving your outdoor space can provide benefits for your lifestyle, the environment, and your property's value. It's worth noting that simple lawn care and landscape maintenance can provide a higher return on investment, but for those looking for more extravagant projects, in-ground pools, landscape lighting, and new patios may provide the most satisfaction.
