The Appraisal Institute on Tuesday reported that landscaping could have a major impact on home value.
In a press release, the AI stated, “The American Society of Landscape Architects suggests that homeowners invest 10% of a property’s value in landscaping. In fact, a well-landscaped home can add approximately 6 to 13% in value compared to a property with no landscaping.”
“Don’t underestimate curb appeal. A home with lackluster landscaping or an exterior in desperate need of a fresh coat of paint will likely be unappealing to prospective buyers and, ultimately, could affect the home’s potential resale value,” said Appraisal Institute President James L. Murrett, MAI, SRA. “Consumers need to ask themselves if their landscaping is attractive enough to make a prospective buyer walk through the front door.”
The AI suggests these four landscaping improvements:
Stick to the essentials. Spending a relatively small amount on design basics such as a winding flagstone walkway, stone planters and flowering shrubs typically provides a solid return on investment.
Plant a tree. A survey conducted by the U.S. Department of Agriculture Forest Service showed that mature trees add an average of 10% to a property’s value.
Think local. Purchasing plants that are native to the homeowner’s region, or that need little water and maintenance, can help consumers save money.
Be efficient. According to the U.S. Department of Energy, well-placed trees, such as those that block shade, can reduce energy bills by up to 25%.
