With homeowners’ priorities shifting to their outdoor living spaces, it’s more important than ever for landscaping and backyard areas look their best when it comes time to sell.
Studies have shown that attractive landscaping can increase the value of a home.
Two studies, one by Mark Henry of the Department of Agriculture and Applied Economics at Clemson University and another by Robert Degner of the Florida Agricultural Market Research Center, University of Florida, found that landscaping contributes to higher resale values in single-family residences, according to the Associated Landscape Contractors of America (ALCA).
Henry’s study, “The Contribution of Landscaping to the Price of Single Family Houses: A Study of Home Sales in Greenville, S.C.,” concluded that not only did homes with excellent landscaping sell 4 to 5 percentage points higher, but homes with poor landscaping in neighborhoods with excellent landscaping sold for 8 to 10 percent less.
“The right landscape design can make all the difference to a prospective buyer, especially when it's beautifully and carefully executed,” explains Wendy Jones, a realtor in the Dallas, Texas, area.
First impressions are not only important for buyers, but for appraisers and real estate agents, too. For instance, the Council of Tree and Landscape Appraisers says a mature tree can have an appraised value of $1,000 to $10,000.
Source: Realty Times