Massive Curb Appeal Improvements
And homeowners can benefit financially and emotionally by remodeling outdoor features. The majority of REALTORS® (92%) advise sellers to improve their home’s curb attractiveness before offering it for sale. Furthermore, the majority of REALTORS® advised homeowners to improve landscaping-related features before placing their house on the market, and these were among the top projects for which landscape experts saw increased demand in the previous year. According to a study published today by the National Association of REALTORS® and the National Association of Landscape Professionals, these and other results are included.
The 2023 Remodeling Impact Report: Outdoor Features investigates why homeowners improve outdoor remodeling projects, the worth of these improvements, and homeowners’ improved satisfaction after finishing an update. The study specifically addresses the following:
Project Cost: The average cost of 11 exterior home tasks as assessed by National Association of Landscape Professionals members.
Estimated Cost Recovery and Recommendation by REALTORS®: The expected cost recovery of REALTORS® — described as the amount of money residents can recoup on a project when selling a home — and the proportion of REALTORS® who suggest these exterior improvements before advertising a home.
Consumer Experience: The satisfaction that customers felt after finishing the 11 tasks, including a Joy Score.
“The COVID-19 pandemic changed the way Americans use their homes for daily living, relaxation, and entertainment,” said Dr. Jessica Lautz, vice president of research at the National Association of Realtors. “Homeowners have welcomed their external areas, changing them into oasis-like retreats complete with pools, patios, plants, and greenery. These exterior features are appreciated by the homeowner and can entice purchasers if the owner decides to sell.”
Fire feature ($9,000), in-ground pool addition ($90,000), irrigation system installation ($6,000), landscape lighting ($6,800), landscape maintenance ($4,800), new patio ($10,500), new wood deck ($16,900), outdoor kitchen ($15,000), overall landscape upgrade ($9,000), tree care ($2,875), and standard lawn care service ($415) are among the 11 outdoor features mentioned in the report.
The study discovered that, on a measure of 1-10, customers ranked all 11 outdoor initiatives highly, with Joy Scores of 9 or higher. Among the amenities, an in-ground pool addition (10), garden illumination (10) and a new terrace received the greatest Joy Scores. (9.9). An outdoor kitchen (9), tree care (9.3), basic grass care service (9.4), and sprinkler system installation received slightly lower Joy Scores. (9.4).
High Joy Scores did not always correlate to REALTORS®’ estimates of high cost recovery. Surprisingly, the cheapest project had the greatest cost recovery (217%), followed by landscape upkeep (104%), an overall landscape upgrade (100%), and an outdoor kitchen (100%). In contrast, an in-ground pool (56%) had the lowest cost recovery (which also had the highest Joy Score), followed by a fire feature (56%) and garden lighting (59%).
In line with their majority recommendation to improve curb appeal, the majority of REALTORS® who recommended completing an outdoor project before selling a home recommended landscaping-related projects, such as landscape maintenance (74%), standard lawn care service (53%), and tree care (44%). The lowest percentages of REALTOR® suggestions were for an in-ground pool extension (1%), an outdoor kitchen (1%), and irrigation system construction (2%).
The most popular exterior tasks among landscape experts were an overall landscape upgrade (61%), landscape upkeep (58%), and a new patio (55%). They, on the other hand, saw the least increased demand for a new timber deck (15%), an in-ground pool addition (25%), and tree maintenance (29%).
“It’s no surprise that nearly all REALTORS® and most homeowners value the curb appeal of a well-kept yard,” said Britt Wood, NALP CEO. “Green spaces and healthy outdoor living help the environment, increase home values, make communities more desirable, and improve people’s mental and physical health.”
Curb Appeal Improvements After Covid…
The study examined outdoor renovation demand during the COVID-19 epidemic for the first time. During the pandemic, most garden pros (92%) reported higher demand for contracting exterior elements. Furthermore, 79% reported that exterior project ranges had grown since the pandemic.
REALTORS® reported the greatest rise in pandemic demand (17%) for an in-ground pool expansion, garden upkeep, and a new patio. They saw the least level of higher pandemic demand for irrigation system construction (2%), a fire feature (8%), and garden illumination (8%).
Visit nar.realtor/research-and-statistics/research-reports/remodeling-impact-report-outdoor-features to read the study online.
In February 2023, the homeownership website HouseLogic.com polled customers about their most recent remodeling endeavor. In addition, 48,342 NAR members were polled to see if they had finished any remodeling tasks. The poll had a total of 2,620 responses. The Joy Score was determined by adding the proportion of people who were happy and those who were content when they saw their finished project and dividing the proportion by ten to produce a ranking between 1 and 10. Higher Joy Scores show higher satisfaction with the endeavor.
NALP emailed an expense survey to its 1,670 member businesses in January 2023, and it got 160 replies. The adjusted response percentage for the poll was 9.6%.
NAR emailed a remodeling project poll to a random sample of 42,164 members in February 2023, and it got 1,891 replies. The poll had a 4.5% adjusted answer rate. (see report for full methodology).
The National organization of REALTORS® is America’s biggest trade organization, with over 1.5 million members engaged in all facets of residential and commercial real estate. REALTOR® is a registered group membership mark that distinguishes a real estate agent who belongs to the National Association of REALTORS® and follows its stringent Code of Ethics.
The National Association of Landscape experts represents an industry of over one million landscape, grass care, irrigation, and tree care experts who develop, construct, and manage our country’s natural areas, which are critical to the health of our world.
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