What ROI does landscaping give you, and is it worth it?
What return on investment will you get from landscaping projects? Some of my best clients ever asked me this question. They have a front yard that’s a little lackluster, so they wanted to know what the ROI would be if they invested in landscaping. I want to share my thoughts on this topic.
The best answer is that it’s impossible to know what the ROI will be. That might sound like a non-answer, but the truth of it is that your buyer will never give you a line-by-line breakdown on why they’re spending what they are.
However, we can look at some data to help us. A study from Michigan State University concluded that buyers will perceive a 5% to 11% greater value on properties with excellent curb appeal. That’s a large number in San Diego county, but again, it’ll be difficult to get a buyer to prove that to you.
If you’re looking to sell and want to maximize your equity, you should do something that makes the home look good but doesn’t break the budget. Laying down some fresh wood chips or putting out colorful potted plants can have a big impact. If your home looks drab from the street, buyers will have that mindset walking in. If it looks attractive, they’ll go in thinking that this is a home worth having.
I hope this helps; a lot of it is simply my experience in the market. If you have any questions about maximizing your sale price or real estate in general, please give me a call. I would love to hear from you.