Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.
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HARDWARE RETAILING | March 2017 22 Trends When homeowners start working on their yards this spring, many of them will likely tackle projects they hope will improve the resale value of their homes. The National Association of Realtors surveyed 2,000 real estate agents, who ranked the top remodeling projects for outdoor elements based on the resale value those features add to a home. An overall landscape upgrade, including shrubs, planters and a stone walkway, is the No. 1 project for helping close a home sale, according to survey respondents. However, the survey shows that seeding lawns and standard lawn care, with fertilizer and weed control, provide the highest return on investment. In fact, homeowners could get back triple what they spend for standard lawn care. Yardwork That Pays for Itself Selling Outdoor Projects That Enhance Home Values Applied to Retail: This spring, keep in mind that real estate agents will be recommending ways to improve homes' chances of selling. Your staff should be ready to help homeowners with product suggestions for those projects. If customers mention they're prepping homes to sell, have your workers ask if they have considered the top three yard projects that helped real estate agents sell homes in 2016. Indoor work could tip off your employees that a conversation about curb appeal might also be appropriate. Your staff can then talk about landscaping and lawn care. Challenge employees to bring up those value-enhancing yard projects and use them for add-on selling. A homeowner who is building a new deck may also need weed killer to spruce up a lawn, or shrubs for landscaping. Top Landscape Upgrades Most Likely to Add Value to a Home for Resale Ranked by percentage of return on investment Source: 2016 Remodeling Impact Report: Outdoor Features, National Association of Realtors Top 3 Updated Features That Helped Cinch Deals When Selling Homes: Overall Landscape Upgrade Standard Lawn Care New Wood Deck FOR SALE New Patio Value Recovered From the Project: 102% New Wood Deck Value Recovered From the Project: 106% Standard Lawn Care Value Recovered From the Project: 303% Sod Lawn Value Recovered From the Project: 143% Overall Landscape Upgrade Value Recovered From the Project: 105%