If you're thinking about investing in landscaping for your home, you might be wondering how much of a return on investment you can expect. While it's difficult to put an exact figure on it, research suggests that landscaping can significantly increase the value of your home.
According to the National Association of Realtors, landscaping can increase the value of your home by up to 15% depending on the extent of the work and the quality of the materials used. This can translate into tens of thousands of dollars in added value, depending on the value of your home.
But it's not just about adding value – a well-maintained landscape can also help your home sell faster. According to the same study, homes with good landscaping tend to sell faster than those with poor landscaping or no landscaping at all. In fact, good landscaping can make a home sell up to 6 weeks faster than a comparable home with no landscaping.
So how much should you invest in landscaping? It's difficult to give a one-size-fits-all answer, as the cost of landscaping can vary widely depending on the extent of the work and the materials used. However, as a general rule, you can expect to spend around 10% of your home's value on landscaping. For example, if your home is worth $500,000, you might budget around $50,000 for landscaping.
Keep in mind that while landscaping can add value to your home, it's important to choose the right plants and materials for your climate and local area. Choosing the wrong plants or using low-quality materials can actually decrease the value of your home. It's also important to strike a balance – too much landscaping can be overwhelming, while too little can be underwhelming.
It's important to note that not all landscaping projects will yield the same return on investment. Some factors that can affect the value added by landscaping include:
Quality of the work: Professionally designed and installed landscaping is more likely to add value to your home than DIY efforts.
Suitability: Landscaping that is well-suited to the local climate and style of the home is more likely to add value.
Maintenance: Well-maintained landscaping will generally add more value than neglected gardens.
Location: Landscaping is more likely to add value in areas where it is in high demand, such as in urban or suburban neighborhoods.
Ultimately, the value added by landscaping will depend on the specific circumstances of your home and the local market. However, with careful planning and execution, landscaping can be a worthwhile investment that increases the value of your home and improves your quality of life. So, it is always a good idea to invest in landscaping to increase the value of your home. By choosing the right plants and materials and working with a reputable landscaping professional, you can create a beautiful outdoor space that adds value to your home for years to come.