When homeowners start to work on the landscaping of their property, the cost seems to always leave them shocked.
For some reason, people tend to think that landscaping would cost the same as gardening, but they are left surprised when they find out that wood for decks and retaining walls cost a lot more than plants and flowers.
The average backyard renovation starts at roughly $20,000, and some projects even cross the $1 million mark.
There is such a huge price range for landscaping so how do you know how much you should be spending on your outdoor renovations?
A common mistake that people make when it comes to outdoor renovations is that they envision exactly what they would like in their yard down to the wall hanging art, before they set the budget for it.
Homeowners need to set their budgets based on percentages of what their home is worth. Realtors and housing experts say that front yards have been getting more attention because of first impressions. A home’s first impression has a value of about 5-8% of the home’s total worth.
When aiming for higher returns, front walkways, sitting areas, front porches, and shade trees contribute the most to reaching that goal. Plants and garden beds look great, but having them in the front yard can potentially intimidate buyers because it gives off the perception that the home is high maintenance. Try keeping things simple in the front because buyers usually want low-maintenance homes.
Try to keep landscaping at 7% of the budget. However, that number does not include the driveway, even though it will probably be at the front of your home.
Backyards are usually more about function than a front yard. Having a great landscape design can offset the shortfalls from the inside of the home with adding outdoor elements that meet the same need. An example of this would be that if you have a small kitchen inside your home, then adding an outdoor kitchen with a barbecue is a very smart investment.
Having a good patio or deck in your backyard that provides you with a large area to host people can increase the value of your home by up to a staggering 12%.
It will be spring in a couple of months time, and that means that it’s time to get outside and getting your home ready for entertaining during the summer time. You just have to make sure you budget your money accordingly. Set aside 20% of your budget all to be put towards the outdoor renovations that may include eye catching suspended ceiling systems.
All of this may seem like a lot, but with all of the housing market numbers showing large returns in landscaping, you can renovate knowing that you are spending your money wisely.
To read more, visit http://www.torontosun.com/2016/06/23/measuring-the-true-cost-of-landscaping