Did you know that your garden could add as much as 16 per cent to the value of your property, according to data from the Husqvarna Group? This study, based on 5,000 homeowners from nine different countries, shows that consumers and real estate agents alike see the garden as an area of great potential for bolstering a property’s price tag.
However, if you’re thinking of investing in your garden, where should you focus your efforts? Here are some of the best-performing garden features which could make a substantial difference to the price of your home.
In terms of adding value to a property, the lawn came out on top in the Husqvarna survey, with 53 per cent of respondents seeing this feature as the most important in any garden. In fact, a lawn can add 0.2 per cent of value to a property for every percentage of ground it covers, according to an academic report linking landscaping and house prices. In other words, if you have a lawn that covers 50 per cent of your lot, this could lead to a 10 per cent increase in its overall value.
It’s worth noting with all of these features, however, that quality is important. In the same way that you wouldn’t open your home to potential buyers with last night’s dirty dishes still in the sink, gardens need to be well maintained if they’re to contribute favourably to the overall impression of your property. In fact, if your garden appears poorly maintained, this can reduce a property’s value by anything between five and 15 per cent.
With an estimated average return on money invested in the garden of 3:1, could mowing the lawn become a joy rather than a chore?
There is an increasing trend towards seeing the garden as an extension of the house, with outdoor social spaces coming in a close second on the list of most important features. Gone are the days when gardens were viewed as a place for storage, or somewhere for the kids could to play without disturbing you.
Gardens are now seen as important areas for entertaining guests, spending time with the family or simply relaxing and enjoying the surroundings. Think al fresco dining! It’s important to realise that your garden’s usability as a social space doesn’t have to end when the sun goes down. The addition of outdoor lighting can make the garden a cosy and comfortable spot for evening relaxation, and given that many house viewings take place after working hours, this creates a good impression for would-be buyers.
With the potential to add 12.4 per cent to the value of your property, it might be time to wheel out the garden furniture and get those lights on!
Also high on the list of value enhancers were decorative trees and hedges. Put yourself in the shoes of a buyer – what do you look for when choosing a property? Aesthetics are obviously important, but privacy and security are also hugely influential when deciding where you want to live.
Hedges and trees give a property a natural feeling of privacy which can contribute to its overall value in the eyes of buyers. Trees have been shown to add anywhere from 3.5 to 4.5 per cent to the value of the property, with hedges only slightly lower at 3.6 to 3.9 per cent.
When considering what your garden needs, don’t be afraid to go back to basics. Seemingly mundane additions such as fences lend a feeling of security to a property which is very desirable.
As these features are likely to be among the first things a potential buyer sees when approaching your property, it’s important that they’re kept in good shape through regular maintenance.
Of course, there is no one-size-fits-all approach to adding value to your property through your garden, and it’s a good idea to keep an eye on current trends in your local area to see what’s selling best.
There are, however, a few general tips that might help you plan your garden renovation:
So now we know, investing in your garden can contribute significantly to the value of your property. If this article has got your green fingers itching, or if you have any more questions, feel free to reach out to your local Ray White estate agent.