Increase Property's Value
Upgrading a home's landscape from average to excellent can raise its overall value by 10 percent to 12 percent, according to research from Virginia Tech.
Alex X. Niemiera with Virginia Tech's Department of Horticulture found that a $150,000 home with no landscaping could fetch an additional $8,300 to $19,000 more once surrounded by plants that vary in color and size. The value of landscaping differed greatly from state to state, however. For example, the change in value from a home with no landscape to well landscaped ranged from 5.5 percent in Louisiana to 11.4 percent in South Carolina. Michigan homes saw the biggest difference in landscaping appeal, with a home's value being increased by 12.7 percent.
Variety Is Key
"The most preferred landscape included a sophisticated design with large deciduous, evergreen, and annual color plants and colored hardscape," according to Niemiera. Adding different plant sizes to a front yard, for example, can boost curb appeal, as well as mixing fruit trees and flowers for added color.
The survey found the following landscape elements most important:
"Survey results showed that relatively large landscape expenditures significantly increase perceived home value and will result in a higher selling price than homes with a minimal landscape," Niemiera writes in the paper. "Design sophistication and plant size were the landscape factors that most affected value."
Niemiera offers one reason why a boost in landscaping can impact a home's value: "The resulting increase in 'curb appeal' of the property may also help differentiate a home in a subdivision where house styles are similar and thereby attract potential buyers into a home," he says. "This advantage is especially important in a competitive housing market."
Source: "Does Landscaping Increase Your Homes Value?" Realty Times (Oct. 13, 2014)
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