The Canadian housing market has favoured sellers for many years now. However, the tide may finally be shifting to buyers due to economic headwinds.
The average sold price in Canada is down to $716,083. Over a 12-month period, this is a 4% decline. The benchmark price on MLS is down 13% and monthly transactions are 20% lower over the past year.
As a homeowner, there is never a wrong time to invest time and energy into your property. Landscaping is an effective and affordable place to start. Your choice to invest in landscaping may help you buck these housing trends.
Read on to learn how landscaping can increase home resale value. Explore why landscaping is the perfect home improvement project.
How Does Landscaping Affect Home Value?
First impressions are everything in the real estate market. You cannot duplicate that initial feeling when a buyer pulls up to their dream house.
While the home’s appearance is all-important, the property’s landscaping is equally critical. If the home’s landscape is left unattended and does not look well, a potential buyer may never get out of the car for a showing.
Experts believe that landscaping can add up to 28% to your home’s value. Crafting a beautiful landscape not only takes money but also time. It takes years for beautiful shrubs and trees to grow to their full potential.
Many homebuyers are willing to pay upfront for their dream landscape. They want to avoid all the hard work and time that goes into building that beautiful landscape.
What Are Landscaping Projects That Improve Home Values?
Landscaping projects range in price and effort. You can do landscaping projects that are virtually free to spruce up your yard. Chores like taking a hard rake to the grass or giving the yard a fresh cut are always effective.
De-cluttering your front and backyard is a must when selling a home. You want buyers to see the full potential of your outdoor space. Simply cleaning up the yard is going to help sell your home.
There are also large renovation projects like constructing a new driveway or building a retaining wall to direct water away from certain areas. These projects have proven to have a positive return on investment at resale.
Outdoor living space is one of the most popular trends in real estate. Professional landscapers can build paver patios to make the backyard more enjoyable.
Water features are another popular home improvement. You can create a real-life oasis on your property with fountains, waterfalls, or even a calming pond. Buyers are eager to pay more so that they can take advantage of these home improvements.
Your Guide to Landscaping and Home Resale Value
You now understand how landscaping helps improve resale value. When owners consider whether to renovate a home, landscaping is an important choice.
First impressions are critical and outdoor living space is growing in importance. You should certainly shift some of your renovation budget to improving the home’s landscape.
If you want to increase home resale value through landscaping projects, contact us today to schedule an appointment with our design team.