The results are in! NAR surveyed thousands of consumers, real estate agents, and industry professionals on interior, exterior, and outdoor remodeling projects. The projects listed below are the best outdoor features that can get you the biggest bang for your buck when it comes time to list on the market.
Outdoor Remodeling Features
Curb appeal is one of the strongest factors that influence buyers. Ninety-nine percent of REALTORS® believe that curb appeal is important to attracting buyers and strongly advise sellers to spruce up the exteriors of their homes before listing them for sale.
According to NAR’s 2016 Remodeling Impact Report: Outdoor Features, we recommend several outdoor projects that will increase the curb appeal for potential buyers and put money back in your pocket.
The three most profitable outdoor projects are:
(1) Implementing a landscape upgrade with seed lawn came in first. Industry professionals at the National Association of Landscape Professionals (NALP) estimate that the project will cost $120 to seed 1,000 square feet of lawn. NAR REALTORS® estimate that the increased value for sellers is $500. A seed lawn upgrade thus has a cost recovery of 417 percent.
(2) Undertaking a standard lawn care program is also time and money well spent. Landscape Professionals estimate that the project will cost $330 to perform a standard lawn care program on 5,000 square feet of lawn. NAR REALTORS® estimate that the increased value for sellers is $1,000 and thus can recovery 303 percent of the costs.
(3) Completing a sod lawn upgrade to the landscape is the third most profitable outdoor project. Landscape Professionals estimate the cost to be $700 to sod a lawn at 1,000 square feet. NAR REALTORS® estimate that the increased value for sellers is $1,000 and has a cost recovery of 143 percent.
Additional outdoor projects that render 100 percent cost recovery include an overall landscape upgrade, new patio, new deck, and softscape upgrade. According to the report, you can’t go wrong with any of these remodeling outdoor features.
*Disclaimer: The report provides a cost recovery estimate for representative remodeling projects. The actual cost of each remodeling projects and cost recovery are influenced by many factors including project design, quality of materials, location, age and condition of the home and homeowner preferences.