The average American homeowner moves every seven years. Regardless of how your residency impacts that average, you know that when the time comes to sell, it’s important to make some profit.
Home renovations can drastically increase the value of your property, bringing cash back to your pocket. Carefully choosing the right projects, relative to the market value in your neighborhood, can give you a great return on investment.
Improving curb appeal with exterior investments typically impact home values the most. The average return on investment for landscaping varies depending upon the sources, but here are some of the best choices
An overgrown, missing, or poorly planned landscape will cost you money when you sell your home. However, a well-thought out landscape design with the right plants and spacing them properly will do wonders for getting your home sold.
When possible, this outdoor improvement should be done at least a few years before you sell. Small plants take years to mature so getting a jump start on curb appeal could help your home to look amazing with mature plantings.
Here are some tips when planning your landscape design renovation:
Average return on investment for landscaping plants: Depending upon the source, this improvement can raise your property value 12-15% and the ROI can reach 25-400%. A lot of this depends on the value of your home and the purchase price, but this is always a good improvement.
Replacing an old driveway will not only add curb appeal, but will help your home to sell better. Homebuyers are always looking for reasons to get sellers to lower the price and a bad driveway is one of the first opportunities they will see when coming to the property.
Cheaper alternatives like asphalt and concrete will eventually crack and settle and cannot be easily or tastefully repaired. An interlocking paving stone driveway will give your home a touch of class while using materials that are 4 times as stronger than concrete.
Average return on investment for landscaping elements such as a driveway: Home values in your neighborhood and your home’s purchase price will impact the return, but experts say that a new driveway can have a ROI of 25%-50%.
Creating a backyard sanctuary can make a huge difference in someone falling in love with your home over others.
While a large pond with fish could be intimidating to some buyers, a small, pondless water feature can simulate the serene sights and sounds of water running without a lot of maintenance for the potential buyer.
Average return on landscaping items such as pondless water features: These features are one of the lower cost items you can add. For as little as a couple thousand dollars, you could price your home higher than a bland, backyard. This can be part of your 25-400% ROI mentioned above.
Costs for adding an outdoor kitchen or entertaining areas can range from $15,000 – $100,000 or higher. These outdoor rooms are an excellent return on investment relative to the value of your home. Adding an outdoor entertaining space is most often more affordable than creating an addition attached to your home.
Adding grills, appliances, fireplaces, and pavilions will amaze potential home buyers. These features are one of the most sought after improvements. Potential buyers can begin to imagine having social gatherings at their new home and fall head over heels for your property.
Average return on investment on landscaping elements like outdoor kitchens: According to experts, these renovations typically return 100-200% of their costs.
While ROI is important, these improvements can help you to enjoy your home better until you move. The personal enjoyment you and your family will experience as you relax and entertain can be absolutely priceless.
Don’t wait until you sell to bask in the beauty of your home’s curb appeal. The sense of pride and satisfaction as you feel pulling up to your beautifully designed and cared for property can definitely improve your life for the years until you put your home on the market.
If you’re looking for the best options to increase your bottom line while having a property you and its future owners will love, contact us. We have transformed tens of thousands of Southern California properties making them the best houses on their block.
Feel free to check out some of the breath-taking renovations we’ve completed for some of your Southern California neighbors! We’d be happy to discuss which landscaping renovation choices should happen first, and which ones we feel are your property’s best investment opportunity. We’d be happy to discuss the potential costs and help you and the next owner love your home to pieces.
At Pacific Outdoor Living, we offer a full suite of in-house design-build services. For a free estimate, fill out our simple contact form or give us a call at (818) 293-5921. We are ready to answer all of your questions and tell you how Pacific Outdoor Living can make your landscape design dreams a reality!