Are you listing this summer? Get your outdoors in shape—it can pay off.
According to National Association of REALTORS® (NAR) research, certain exterior improvements are likely to recoup at resale. Based on feedback from REALTORS®—who, through their experience, know what house hunters are ready to spend on—the best enhancements are lawn care, landscape maintenance and tree care, and installing an irrigation system. Landscape/lawn care pays for itself—generally 100 percent of the expense or more is recovered, according to the research—while irrigation has a promising ROI of 86 percent.
For homeowners not selling yet, exterior improvements can be satisfying in and of themselves. Assigning a “Joy Score” from one to 10, with 10 anteing up the most enjoyment, both a fire feature and an irrigation system earned 10s, followed by a new wood deck or water feature (both 9.8s), “statement landscaping” (9.7) and an “overall landscape upgrade” (9.6), the research shows.
“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,” says NAR President Elizabeth Mendenhall. “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.”
Additionally, appearances matter beyond the residential space. Forty-three percent of REALTORS® have advised a commercial owner to improve the outside of the property, in