Landscaping Boosts Home Values Up to 12% DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 14, 2014 You might want to take a closer look at your listings curb appeal: Upgrading a homes landscape from average to excellent can raise its overall value by 10 percent to 12 percent, according to research from Virginia Tech. Researcher Alex X. Niemiera with the Department of Horticulture at Virginia Tech found that a $150,000 home with no landscaping could fetch an additional $8,300 to $19,000 by adding a landscape with color and large plants. The value of landscaping differed greatly from state to state. 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 homes value being increased by 12.7 percent. 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 following landscape elements were found to be most important to survey respondents: Design sophistication Plant size Diversity of plant material type 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. 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. This advantage is especially important in a competitive housing market.
Posted on: Wed, 15 Oct 2014 12:42:36 +0000
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