Landscape Adds Value to the American Home

“Creating an outdoor retreat can be a worthwhile but costly venture. So make sure your money is well spent on features that add the most value to your property.” This advise comes to us from Kiplinger Personal Finance newsletter.

According to a New York Times article on July 30. 2006, “Landscape architects and real estate brokers and appraisers agree that the exterior appearance and landscaping not only distinguish one house from another on the market but also enhance the resale value and, in many cases, seal a deal faster.”

“Good landscaping could add up to 15 to 20 percent to the value,” said Nancy C. Somerville, the executive vice president of the American Society of Landscape Architects, citing a number of studies over the last few years. “Conversely, if the landscape is poor, you could expect a sale price of 8 to 10 percent below comparable homes with good landscaping.”

The Kiplinger article contiues, “When it comes to backyards, a couple of lawn chairs and a portable grill just don’t cut it these days. More Americans want an outdoor living space with comfortable furniture, built-in grills or complete kitchens, fireplaces, televisions, pools and spas—and they’re expected to spend more than $40 billion this year creating these retreats.”

The article goes on to list ways in which value is added to a home:
Covered patio—adds value. “There’s no reason to have a great outdoors without an area to sit and enjoy it,” Cupp says. For a patio to add value, though, it’s got to be more than a concrete slab. He says 95% of the patios he installs are paver patios (brick-like material made of concrete that comes in a variety of styles and colors). The price of materials and installation runs from $12 to $15 a square foot up to $40 to $50 a square foot. And Carbo says patios should be covered to provide shade or protection from rain. Otherwise, you’d be wasting your money if you created a space without a cover to protect you from the elements.
Kitchens—add value. For anywhere from $15,000 to $100,000, you can have a refrigerator, grill and sink installed to cook and dine al fresco. “Why not have it all outside where cooking is part of the process of entertaining,” Wendell says. He recommends getting a professional invovled to properly locate your outdoor kitchen so you can get the most out of it.

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Kiplinger Personal Finance Newsletter

Posted by , Tuesday, July 11, 2006 at 1:21 pm in Residential Landscape Architecture