Landscaping, whether home improvements or outdoor projects, doesn’t only beautify your yard and give you a lovely place to live; it also increases your home’s curb appeal, ultimately helping you fetch a higher price for your house when selling it. What you ought to ask yourself is: which outdoor projects have the highest ROI (return on investment) and offer much satisfaction?
Recently, the National Association of Realtors (NAR) and the National Association of Landscape Professionals (NALP) conducted a study that focused on homeowners’ level of satisfaction with outdoor remodeling projects, why they complete them, and the potential value the projects added to a home’s market selling price. The report highlighted 11 outdoor landscaping projects that scored high in value and satisfaction.
Why You Need Landscaping
According to 97% of NAR members, curb appeal is critical when attracting a buyer for residential properties. The main goal is to make a good first impression with your home, and that means ensuring the yard is neatly mowed, nice edging, trimming hedges, and adding seasonal color with colorful planters—all these will give you an advantage when selling a home!
While getting the best return on investment from your projects is a key goal, you shouldn’t focus solely on the future monetary gains and forget the present moment. Your outdoor projects should be more of a lifestyle investment, which simply means you should focus more on what brings you the most satisfaction and enjoyment.
For some, some shade and privacy for a serene sanctuary is all they could ask for, while others would prefer to use their space to entertain their families and give their kids and pets more space to run. So, it all boils down to the experience you want in your yard, then plan your landscape according to how you want to live in your home.
Today, we will seek insights from the 2023 Remodeling Impact Report: Outdoor Features from the National Association of Realtors Research Group and examine 11 landscaping projects listed to have brought the best return on investment.
Take a look!
1. Standard Lawn Maintenance
In the report, standard lawn maintenance was described as six conventional seasonal applications of weed and/or fertilizer control on a 5,000 sq. ft. lawn. Lawn maintenance had a “Joy Score” of 9.4 (on a scale of 10) and was regarded as a project that adds beauty and aesthetics.
The project had an estimated 217% return, with a return on investment estimate of $900 from an estimated cost of $415. Furthermore, 58% of homeowners indicated they were more satisfied going home after the project was completed.
2. Landscape Maintenance
According to the report, landscape maintenance entails planting approximately 60 annuals or perennials, pruning shrubs, mowing 2,835 sq. ft. of lawn, and annual mulch application. Homeowners cited that landscape maintenance added beauty and aesthetics to their properties.
Landscape maintenance had a 104% return: the estimated cost of $4,800 had a return on investment estimate of $5,000. Additionally, 61% of homeowners indicated that they fancied going home after the project was completed.
NB: A good strategy I’ve always found helpful when trying to save a couple of bucks is conducting smaller projects or routine maintenance by myself. Low-cost projects like container gardening are perfect if you have a green thumb, not to mention they’ll add seasonal color and enhance your outdoor space. The challenging ones, like plant disease control and tree pruning, you can leave to the pros.
3. Full Landscape Upgrade
A complete landscape upgrade entails installing two stone planters, each 6 ft. long, 2 ft. wide; a natural flagstone front walkway 3 ft. wide, 30 ft. long; one deciduous 15-foot-tall tree; five flowering shrubs; and bark mulch.
In the report, 50% of consumers indicated that adding beauty and aesthetics was the most important result of a complete landscape upgrade. 23% of Realtors recommended the project before selling, and it had a “Joy Score” of 9.7.
The project had a 100% return: an estimated cost of $9,000 had a matching return on investment estimate of $9,000. Furthermore, 72% of homeowners were more inclined to be home after completing the project.
4. Installing an Outdoor Kitchen
Take it from me: adding an outdoor kitchen is an excellent way to customize your home and incorporate your personal style. An outdoor kitchen project, according to the report, includes installing 60 sq. ft. concrete countertops of veneered masonry stone, stainless steel drawers, one inset grill, a sink, and an ice chest.
Most homeowners listed durability, alongside long-lasting results and materials, as the most important results of adding an outdoor kitchen to their property. The project had a 100% return, with an estimated cost of $15,000, yielding a matching return on investment estimate of $15,000.
Also noteworthy is that 99% of homeowners longed to be home after completing the project.
5. Building a Patio
Installing a new patio helps upgrade worn-out features and improve livability. The report defined a patio as the installation of an 18 x 16-foot concrete paver patio in a backyard, dry set over a sand base, and compacted gravel.
The project had a 95% return, with an estimated cost of $10,500, yielding a return on investment estimate of $10,000. Consumers also noted they had an increased sense of enjoyment while at home when they completed the project and had more desire to be there.
6. Constructing a Wood Deck
Constructing a new wood deck had as much appeal as building a new patio, with the wood deck project having a “Joy Score” of 9.8, while the patio project had a “Joy Score” of 9.9. A new wood deck, according to the report, entails a 14 x 18-foot cedar structure with cedar stair steps and railing and fir or pine lattice at the base.
Consumers listed improved livability and functionality as the most crucial result of both projects. The project had a return of 89%, with an estimated cost of $16,900 and a return on investment estimate of $15,000.
7. Tree Maintenance
NAR found that 44% of Realtors recommended tree maintenance before selling, with the Realtors estimating that tree maintenance can recover 87% of the project cost when selling a house.
Per the report, tree maintenance includes regular spraying, pruning, trimming, and three applications of tree fertilizer, as well as removing one 30-foot-tall tree. The return on investment estimate was $2,500 from an estimated cost of $2,875.
8. Installing an Irrigation System
An irrigation system project entails installing and managing an irrigation system for a 5,000-square-foot lawn. In the report, a few consumers indicated they could install an irrigation system to improve the lawn’s beauty and aesthetics. Consumers with already-installed irrigation systems reported a “Joy Score” of 9.4.
The project had an 83% return, with an estimated cost of $6,000 and a return on investment estimate of $5,000. Furthermore, 61% of homeowners were more inclined to be home after completing the project.
9. Installation of Landscape Lights
Landscape lighting was one of the only two projects given a “Joy Score” of 10 by consumers who had already completed it. Most consumers said adding beauty and aesthetics was the most important result of this project. Additionally, consumers listed modernizing their space and improving livability as key factors in undertaking this project.
The report described a landscape lighting project as the installation of 20 LED lights and a standard 600W transformer. The project had a return of 59%, with an estimated cost of $6,800 and a return on investment estimate of $4,000. Moreover, 61% of homeowners were more satisfied being at home after completing the project.
10. Installing a Fire Feature
The report described a fire feature as the installation of a 10-foot-diameter flagstone patio and a dry-stacked natural stone kit with a gas burner. Most consumers installed a fire feature to add features and livability to their homes.
The project had a return of 56%, with an estimated cost of $9,000, yielding a return on investment estimate of $5,000. In addition, 78% of homeowners indicated they had an increased sense of enjoyment while at home, and 73% said they had more desire to be home after completing the project.
11. Construction of an In-Ground Pool
According to the report, an in-ground pool consists of an 18 x 36-foot in-ground pool with a 3 – 7-foot depth and gunite walls, a 3-foot-wide concrete perimeter surround, and a standard filtration system. An in-ground pool was the second project to be given a perfect score by consumers, with a “Joy Score” of 10.
The project had a return of 56%, with an estimated cost of $90,000 and a return on investment estimate of $50,000. However, there were other benefits. In addition, 89% of homeowners were more satisfied to be at home after completing the project.
NB: If the cost estimates featured in this article seem too much, keep in mind that some projects can be done in phases.
