The Michigan State University study survey respondents ranked a landscape’s sophistication as most important when considering the perceived value of a home. While the sophistication of a landscape design is something that is hard to put into words for most consumers, like art, they know it when they see it. The study defines a sophisticated landscape as one that includes a balance of large deciduous trees, evergreen plants, annual color plants and colored hardscape.
The latter includes all non-plant features, such as decorative brick, pavers and gravel. The study found that a home valued at $150,000 with only a lawn can gain $8,250 to $19,050 more in value with an upgraded sophisticated landscape.
Patios are a sought-after amenity for most homes, making them a valuable addition when trying to sell your home. It’s estimated that a paver, flagstone or cement patio can recover the cost of building the patio plus a little extra, which is an ROI of just over 100%. However, wooden decks provide only about 82% in recouped costs.
Note that if you have a current patio a better option for you, would be to refinish or repair an existing patio. Repair cost are typically a much lower fee (usually under $6,000). This can provide an ROI of nearly 500%.
Adding an Outdoor Kitchen is another valued addition. Most experts estimate that homeowners with kitchens in their outdoor living spaces will break even on the investment when selling their homes. Homes with outdoor kitchens can potentially see an ROI ranging between 100% and 200%.
To get the most out of your resale value add a sophisticated landscape design to your yard. The return will be worth it in the end!