These Projects May Boost Home Value

Here are 10 projects that may give your client’s home a boost in value.

1. Install an outdoor fire pit
   1. Average cost is approximately $4,500
   2. Average ROI at resale is approximately $3,500 or 78%, according to CBS News
2. Installing/maintaining a beautiful lawn instantly boosts curb appeal
   1. Reseeding costs an average of $120, has an ROI of 420% and boosts home value by approximately $500
   2. Re-sodding for a lawn needing more than reseeding costs approximating $700 for 1,000 square feet of lawn; boosts resale value by $1,000 or 143% ROI; offers instant, overnight gratification
   3. Ongoing maintenance for 6 applications of lawn fertilizer and weed control product annually (recommended by the National Association of REALTORS) runs approximately $330 for a 5,000 square foot lawn; offers an ROI of 300% or approximately $1,000
3. Pave gravel driveway
   1. Gravel driveways are fine for rural settings but make sure to keep the gravel in the driveway and out of plants
   2. Costs run anywhere from $4,000-$20,000 with a 75% ROI
4. Refresh the landscaping
   1. According to NAR, this project increases the likelihood of a sale and could net an ROI of 105% from an average cost of $4,750
   2. Refreshing the landscaping means installing a natural flagstone walkway, adding stone planters, mulching, planting some flowering shrubs and planting a nice sized tree
5. Add an attached or detached wooden deck
   1. Decks welcome owners, families, friends, potential buyers to enjoy the outside for grilling and entertaining
   2. According to Remodeling Magazine, costs for a 16’ X 20’ deck, stairs, railings average about $17,500 with an ROI of 83% or $11,000.

6. Install a backyard Patio
   1. com estimates the ROI at 60% for $4,500 – $17,000 depending on materials
   2. Concrete costs less than brick; brick costs less than flagstone
7. Outdoor kitchen
   1. Green Residential real estate management firm estimates a 100-200% ROI
   2. Amenities such as masonry cabinets, cooktops, grills, west bars, fireplaces, etc. can run $12,000-$25,000
8. Outdoor lighting
   1. Deters burglars and creates great ambiance
   2. Motion lights and low voltage landscaping enhancements can enhance curb appeal
   3. According to Inman, lighting costs run between $250 – $1,500 with a 50% ROI
9. Plant trees
   1. Know that trees appreciate over time as they grow
   2. com suggests trees could boost market value of home from $1,000 – $10,000
   3. Saplings can run $100, larger trees up to $600
10. Install lawn sprinkler and/or drip system
    1. According to Turf Magazine, calculate a $3,000-$4,000 cost
    2. Consider the amount to be saved on water, approximately 40%, over 2-year period.