Outdoor Projects With Bang for Your Buck
The National Association of REALTORS® teamed up with the National Association of Landscape Professionals in 2016 to determine which outdoor projects pay off best.* Here are some picks from their list of winners:
1. New Deck or Patio
While neither project is a typical "pre-listing" task, they both do well in terms of the estimated percent of value recovered for the homeowner.
New Wood Deck:
- Cost: $9,450.
Cost Recovered: 106%.
New Patio:
- Cost: $6,400.
Cost Recovered: 102%.
2. Landscape Upgrade
This project involved adding a 30-foot long walkway of natural flagstone, along with two large stone planters, flowering shrubs, a 15-foot tall tree, and landscaping bark.
- Cost: $4,750.
Cost Recovered: 105%.
3. Sod Lawn
Sodding 1,000 square feet of lawn resulted in a strong payoff.
- Cost: $700.
Cost Recovered: 143%.
4. Softscape Upgrade
Trees, shrubs, perennials, natural edging, and boulder accents were installed.
- Cost: $7,000.
Cost Recovered: 100%.
5. Firepit or Outdoor Fireplace
These are also not common pre-listing projects, but in terms of enjoying a home they can really open up its usability and entertainment options.
Firepit:
- Cost: $4,500.
Cost Recovered: 78%.
Outdoor Fireplace:
- Cost: $13,300.
Cost Recovered: 60%.
Not included in the survey but worth a mention: Outdoor cooking areas are becoming increasingly popular. Regardless of whether the location is a condo balcony or a house patio, a well-appointed outdoor area that allows for easy entertaining makes a home more usable while increasing the perceived living space.
* The cost and the percent of value recovered for these projects are estimates and can vary according to location. Click here to see the full report and list of all projects.
3 Good Questions to Ask
Before Moving Day
Asking these questions can mean the difference between experiencing a smooth transition or a cautionary tale:
1. "How are my belongings insured?"
The default insurance (Released Value Protection) covers your items at only 60 cents per pound for interstate moves, and sometimes less for in-state moves. This means if your 100-pound 72" flat-screen TV gets dropped or disappears, your reimbursement could be only $60.
Tip: Ask the mover about Full Value Protection, which is usually reasonable in cost and offers far better coverage. You can also purchase third-party moving insurance.
(Home insurance policies often do
not cover non-catastrophic moving losses, especially after the items leave your property.)
2. "Is this a moving company or a moving broker?"
People often think they're dealing with the company that will be performing their move, when in reality they may be talking to a broker who contracts with other firms. This makes it much harder to research the company that will actually show up on moving day.
3. "Will I have to pay more than the estimate?"
Not if you receive a "Binding Not-to-Exceed" (the best option) or a "Binding" estimate, which means you can't be charged more than the estimate amount once the goods are on the truck.
A "Non-Binding" estimate leaves more room for the final price to change prior to delivery.
Protect Your Move recommends never accepting an over-the-phone estimate - it should be based on an on-site evaluation.
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