Exterior renovations can enhance the overall look of a house and make it more enjoyable for homeowners. Certain renovations have the potential to add value to a home, while others might do the opposite. Learning which one have the largest return on investment might help homeowners pick characteristics that will have the maximum favorable impact.
Curb appeal goes a long way toward attracting prospective buyers. According to the National Association of Realtors, first impressions of a house have a powerful influence on buyers. Landscaping and outside attributes can do much to influence such impressions.
Lawn care plan: Purchasing a lawn care plan that consists of fertilizer and weed control application and can be moved over to a subsequent home owner is an attractive feature. NAR says this type of care plan can recover $1,000 in value of the $330 average price, or a 303 percent ROI.
Low-maintenance lifestyle: When choosing materials for jobs, those that provide low-maintenance benefits can be preferential. These include low-maintenance patio materials, composite decking, vinyl fencing, and inorganic mulched beds.
Fire pit: A fire pit can be used for much of the year. From the spring and summer, the firepit is a wonderful place to congregate to roast marshmallows or sip wine and gaze into the fire. In the fall, the flame pit can make for a cozy retreat. A fire pit that has a gas burner is low-maintenance, and the National Association of Landscape Professionals says that most can recover about $4,000 of their $6,000 average cost tag.
Softscaping: Hardscaping describes structures like outdoor kitchens or decks and outdoor decorative rock. Softscaping involves the living elements of this landscape. Employing a landscape designer to put in trees, shrubs, natural edging, and stone elements can work wonders toward enhancing the appearance and value of a home.
Pool or water feature: In certain markets, especially hot climates, a pool or another water feature is a must-have. However, in other areas where outdoor time is restricted, a pool or water feature can actually decrease the value of a home. Speaking with a real estate professional can provide homeowners an idea of how a pool will fare in a specific neighborhood.
Outdoor improvements can boost the marketability of a home, in addition to enhance its appearance and function.