Whether you’re looking to sell your home, or are just interested in making improvements that offer ROI, an outdoor living space is a great investment. Here at DFW Properties, we wanted to share the top four ways family yards and other living landscapes add value to a property and extend the usefulness of the home.
Win with trees: Mature trees are often an indicator of an established neighborhood, which can be a positive for buyers looking for an older, classic home. But the value of trees goes beyond perception and preference and right into your pocketbook. According to the International Society of Arboriculture, each front yard tree adds 1 percent to a homeowner’s sale price, while large specimen trees can add as much as 10 percent to property values.
Green: Potential buyers often ask about the energy efficiency of a home, and it turns out that living landscapes impact the monthly electric bill.
Living space: Yards can be outdoor family rooms and are increasingly important to families who want a safe, inviting place for their kids and pets to play almost year-round. Merging indoor and outdoor living to increase living space is trending, making outdoor living space important for homebuyers. But just how much can you expect to recover from ensuring a useful outdoor living area? According to NAR survey, any cost to enhance outdoor living is well worth it.
Seeding the family yard will recover 417 percent of the project cost, while updating landscape with sod will result in a 143 percent recovery. If you want to take on more of a project, adding a new patio will recover 102 percent of your investment and a new wooden deck will result in a 106 percent recovery rate.
One final note: a systematic research review concluded that knowing and experiencing nature makes people generally happier and healthier. Since nature starts in our own backyards, it’s fair to assume that the family yard contributes to overall well-being. This is priceless, whether you are looking for a new place to call home or are just settling in to your new property.
DFW Property Management manages rental homes across 85+ cities in the Dallas-Fort Worth metroplex. Get a free rental analysis to see what your property could earn with professional management.
