Image Credits: Clare Mansell/Moment/Getty Images
ORLANDO, Fla. – Want to update your home or business property and give it a new look? For value and satisfaction, think about doing an outdoor remodeling project, according to the National Association of Realtors®’ (NAR) and National Association of Landscape Professionals’(NALP) 2018 Remodeling Impact Report: Outdoor Features.
The report looks at 13 outdoor residential projects and 10 commercial property projects, highlighting the reasons why property owners complete these projects, the value – both financial and emotional – that these remodels bring, and the increased happiness the finished projects bring homeowners.
When asked which outdoor projects produce the most substantial financial payouts at resale, Realtors ranked standard lawn care service at the top, which recovers 267 percent of the project cost at resale. Next, Realtors named landscape maintenance and tree care, both recovering 100 percent of the cost at resale, and installing an irrigation system, recouping 86 percent.
When it comes to the enjoyment homeowners gain from these projects, a fire feature and irrigation system tied for first, both receiving a perfect Joy Score of 10. Joy Scores range between 1 and 10: Higher figures indicate greater joy from the project.
Eighty-three percent of homeowners who installed a fire feature said they have a greater desire to be home since completing the project, and 69 percent of homeowners who installed an irrigation system said they feel a major sense of accomplishment when they think of the project. The next most appealing projects were a new wood deck (Joy Score of 9.8), a water feature (9.8), statement landscaping (9.7) and an overall landscape upgrade (9.6).
This year, the report also covered outdoor projects for commercial properties. The report found that 43 percent of Realtors have suggested a commercial client improve the curb appeal of a property before listing it for sale. The most frequently recommended projects are standard lawn care (39 percent), completing a landscape management service (27 percent) and an overall landscape upgrade (26 percent).