In the Mooresville and Lake Norman area real estate market, we all know that first impressions of a home count for a lot but wow! This is amazing! We at Alford Realty Group are always looking for ways for our clients to gain a competitive edge. These results show that not only does great landscaping improve your curb appeal, it also makes the buyer feel your home is worth more. Research from Virginia Tech shows that upgrading your home’s landscape from average to excellent can raise your home’s overall value by 10%-12%.
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.
Not surprisingly, different states showed different values for landscaping. 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.
Survey results showed that in terms of perceived home value, respondents ranked design sophistication as most important, plant size as next important and diversity of plant type as least important. All of these increased the curb appeal and therefore the respondents felt it increased the home’s overall value.
“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.
“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.”
Excerpts taken from article by Andrea Davis in RealtyTimes.com