Landscaping can definitely increase the value of a property, but any transformation will depend on the quality of the design and the professionalism of the installation. In a phrase, if the addition looks poor, it won’t add to the value – in fact, it might seriously detract from the final selling price. Here’s a few dos and don’ts of landscaping:
Exotic bushes and trees. They look wonderful and can add immeasurably to the landscape, but beware. They can be very expensive, may need very different conditions than found in your locality and may require extraordinary maintenance.
Fireplaces are only an indulgence. A recent innovation, the outdoor fireplace, which could end up costing $40,000, is expensive to maintain and often only used in party settings. High initial and maintenance cost with a relatively small percentage increase on the selling price.
Outdoor kitchens add value. Plan on a heavy investment for grills, refrigerator and plumbing (sink), but it provides an excellent focal point for parties, family entertainment and sunset dinners.
Useful or just a luxury? Outdoor living rooms often include a fireplace or firepit, cooking station and comfortable furniture. But this is an important area to decide whether you’re spending money on something that's functional and will add value to your property versus something that is purely a luxury item.
A covered patio can add value. But it must offer something more than a foundation with a couple of columns. The cost of a good-looking covered patio that will keep out the the rain and too much sun can run to almost $1000.
Swimming pool. If designed and installed professionally, pools can do a lot for a tired landscape. But be warned: they need constant maintenance and if you add all the extras, such as hot tubs, this addition could end up costing you over $100,000.
Water architecture. Avoid, unless you have money to waste and like the tinkle of falling water.
TV. Don’t even give it a thought. It’s a heavy indulgence and doesn’t do much for your
eyes on very bright days.
SOURCE: MSN Real Estate 2006
