Outdoor Projects Pay off at time of selling

Property owners may wish to focus more of their remodeling dollars on boosting curb appeal. Outdoor remodeling projects not only offer some of the highest returns at resale, they can also increase the happiness of home owners who will be staying put in their homes, according to the 2016 Remodeling Impact Report: Outdoor Features, which has been released Tuesday by the National Association of REALTORS® and National Association of Landscape Professionals.

Taking care of the home’s lawn should bring some of the biggest bang for your buck. The Remodeling Impact Report found reveals that REALTORS® find projects like seeding the lawn, implementing a regular lawn care program, and updating a landscape with sod lawn can have some of the highest returns at resale.

“REALTORS® understand the importance of curb appeal-from flower beds to fire pits- because when it is time to sell, a home’s exterior is its first impression to potential buyers,” says NAR President Tom Salomone. “REALTORS® also know that these projects can bring home owners who have no plans to sell even more enjoyment and satisfaction in their home.”

Outdoor Projects Pay off at time of selling

REALTORS® ranked the following outdoor remodeling projects as being the most likely to add value to your home at resale (listed from highest to lowest):

Landscape upgrade
New patio
New wood deck
Standard lawn care
Sod lawn
Softscape
Seed lawn
Outdoor fireplace
Outdoor fire-pit
New pool

For home owners looking for more happiness, they may want to think about a swimming pool. The study discovered that a new pool comes in # 1 within the enjoyment home owners really benefit from an outdoor remodeling project. 95% of home owners who completed a pool project said they have a greater desire to be home; 90 percent feel a major feeling of accomplishment; and 80 % say they have an elevated sense of enjoyment when they are at home, the study finds.

But home owners shouldn’t bank on recouping the full cost of the swimming pool at resale. REALTORS® estimate that home owners likely will only recoup 50 percent of the cost of the pool at resale.

Other outdoor remodeling projects that scored high on bringing “joy” to home owners was an overall landscape upgrade, and then a brand new wood deck.

“Home owners looking to take on large, expensive outdoor projects should do so for themselves, for the enjoyment they and their family will gain from the finished results, and not only to improve the value of their home for when they sell,” Salomone says. “Smaller projects will bring potential sellers the most value back upon resale – and have the benefit of costing less up front.

Nick & Cindy Davis has assisted hundreds of clients sell their home here in the Tampa Bay and surrounding areas. We will show you where you will be be able to list and sell your home for the highest amount, in the shortest amount time and with the most favorable terms for you. If you would like to know what the current value of your home is today, we are always just a click here or call to 813-300-7116.

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(all data current as of 10/26/2024)

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