Landscape Upgrades

Landscape Upgrades
By Jasper Anson
Financial Correspondent

Attention to landscaping details can add value to your property. If you’re selling your house, it’s what’s outside that counts. Prospective buyers can’t immediately see what’s inside, but one thing they will notice right away is your landscape. That same landscape can ultimately spark a buyer’s interest or send them running in the opposite direction. The good news is that many landscape renovations are affordable and far from impossible. Not only will they enhance your selling opportunities, but they can also provide a significant investment return. 

As your property value increases, so does the return on your renovation investments.  For landscape renovations, payback values can range between 25% and 75% of the original cost. Let’s say that you spend $2,000 on a renovation that carries a 60% payback value. Initially, this means that you’ve added $1,200 to your property value, but if the overall home value increases by 80%, that $1,200 is multiplied by 1.8 (the existing value of your home plus the 80% increase), and the renovation is then worth a profitable $2,160. That said, don’t rush out to start renovating without first being informed.

Landscape renovations offer “curb appeal,” but in the current market, your neighborhood and the quality of the renovations are some of the most important factors at play. Make sure that with any renovation, you are thinking as a seller, because your taste might not reflect someone else’s, and one bad choice could harm your investment. If you’re stuck, an appraiser can assess your home’s current value and share some ideas for improvement. Even though the market changes constantly and so do all of the numbers, a good landscape renovation will still help you sell.