When you think about the overall environment of your home, it’s natural to think about the landscaping, including elements such as water features, outdoor kitchens and outdoor media rooms. They expand the livable space, giving you and your family a unique place to hang out or entertain. But is that all they do?
According to many experts, adding an outdoor kitchen or media room, or choosing to improve your residential landscaping design, improves the value of your home significantly. For example, in a piece by Quicken Loans, the estimated return on investment of an outdoor kitchen is anywhere between 70% and 200%, depending on multiple factors, including weather. Obviously in the DFW Metroplex, we are fortunate to have the type of weather that allows us to use an outdoor kitchen or media room almost year round, making it a good investment with a high ROI.
Recently we caught up with two of DFW’s premier real estate agents to ask them about their experiences in selling homes. In particular, we wanted to know if landscaping and outdoor living areas made a difference.
According to Jenni Stolarski of Briggs Freeman, landscaping is often a bottom of the list item, but makes a big difference when you want to sell your home.
“My experience is that nicely done landscaping and outdoor rooms give you the same return as renovating a bathroom or kitchen. Dollar for dollar you get a return,” said Jenni. “Plus there is the curb appeal and adding that WOW factor.”
Jenni’s experience is that between two homes that are comparable in neighborhood, value and amenities, the one with beautifully done landscaping and/or outdoor living spaces will bring in more money.
“In a well-to-do neighborhood, I saw two homes next door that were similarly appointed, including the landscaping. One had been on the market for months. The other sold in 5 days,” said Jenni. “The only difference was the outdoor kitchen.”
“Our experience is that our clients want an incredible outdoor experience, and desire livable spaces that give them both beauty and function,” said Marc Funderburk, president of LandPatterns. “We know that the primary motivation is having a beautiful space, but the additional benefit is the value the space adds to the home.”
There’s an ROI Calculator for Trees?
Before Jenni became a real estate agent, she worked as a landscaper and also for the New York Botanical Gardens, giving her a unique perspective on the value of residential landscaping design.
“Trees have value, which is why it’s easy to find a calculator for the value of a tree in your neighborhood,” said Jenni. “The City of Dallas also places value on trees, so if a developer removes a tree they have to pay the City an amount based on the size of the trunk. The City then utilizes those funds to plant trees in various neighborhoods.”
There are a number of calculators to determine the value of a tree in your neighborhood, including:
So we know that trees are important, but what about other elements of residential landscaping design? According to Jaki Burks of Keller Williams, landscaping and hardscaping definitely have an impact.
“The reality is that landscaping makes a difference. It gives an impression of your home overall. Beautifully designed, well-maintained landscaping, gives buyers the impression that you truly care for your home,” said Jaki. “Bad or poorly maintained landscaping can be a real turn off.”
Jaki knows that if a home has any outdoor living spaces, they are factored into the value, both by her as an agent and by appraisers.
“Landscaping has so many functions. It’s beyond aesthetics into cooling the home, and providing proper drainage,” said Jaki. “It also makes you feel good. I recently purchased my home and was heavily influenced by the incredible landscaping in the backyard. It simply adds to the overall experience.”
So the next time you are watching your favorite home improvement show, or attending an event at a friend, don’t be envious of their beautifully appointed outdoor living spaces. Get your own.
“Our philosophy is to ensure that our clients have a unique, well thought out design that encompasses both their desires and aligns with the home. This gives them a wonderful space to enjoy,” said Marc. “It also is a good investment in the overall value of their homes, so they can rest assured that they are making a good investment in the future of their home.”
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