Living in Australia brings with it warmth, beautiful landscapes and the benefits of year-round good weather (for the most part). So with that being said, we inevitably have an intrinsic love of the outdoors. Therefore, it should be no surprise that this relationship carries through to our living spaces – indoor outdoor living is intertwined in the Australian dream.
As a prospective vendor, outdoor landscaping is something you should be considering prior to sale. Does my outdoor living space suffice the Aussie appetite? Should I be investing more in my outdoor space? And if so, what aspects of my outdoor living areas should I invest in? In this blog we’ll be addressing all of these questions and more, to ensure you and your property are in the best possible shape prior to sale.
Will landscaping add value to my property?
In short, yes, investing in the outdoor area of your property will add value. However, there are a number of factors that will influence the return of your investment, such as neighbourhood standards, proximity to the sea, and overall improvements made.
Looking at improvements in general, Landscape Economist John Harris has stated that giving some extra attention to your outdoor areas has the potential to add an impressive 28% to the home overall value. Additionally, a paper released from Clemson University added that “taking your landscaping and gardening efforts from ‘good’ to ‘excellent’ could add significant value to your home – at least 6-7%.”
This might be something to consider even if you’re not considering selling, as landscaping investments can increase over time if maintained correctly. Take, for instance, planting trees or shrubbery, these will only start to see real value after some time as your garden and ecosystem take shape. This means that you might want to start thinking about this now for better returns down the line.
Some additional notable research concluded that;
- Michigan University research found that good landscape design – as judged by plant type, size and design sophistication – increased perceived home value by 5–11%.
- Perth-based research found that a broad-leafed tree located on a street verge in front of a home increases the median property price by about $16,889.
- The economic value of greenspace case study, put together by Brisbane City Council, found “leafy streets, with 50 per cent or more tree cover, added up to $29,000 (5.4 per cent) above the median house sale price.
- A Michigan University study found that homeowners achieved a 109 per cent return on every landscaping dollar spent – higher than any other home improvement.
So, what areas of my outdoor area should I invest in?
Did you know that Australia has the highest pool ownership per capita in the world with 1.2 million private pools, and more than 30,000 new ones are being installed a year?
With that being said, it should come as no surprise that properties inclusive of pools are becoming the norm and come with a higher price tag. A Swimart survey found 90 per cent of pool owners believed their pool boosted the value of their house by an average of $30,000; with estimates ranging between $10,000 and $100,000, depending on size, style and location.
The research indicated that demography also played a part, with more demand for pools in suburbs with a high proportion of children aged four to 16. In summarise this, pools are worth more in suburbs that have lots of kids,
However, there is a fine line. The same research also warns that the pools might negatively affect the value of the property if it “overwhelms” the outdoor space so it’s important to consider scale if you’re thinking of investing in a pool.
Your general garden area is a no-brainer when looking to invest. A good rule of thumb to go by when upgrading your garden is to make it easy to manage. Although we love beautiful outdoor spaces, buyers don’t want it to take up significant maintenance time. A low-effort but stunning landscape will be attractive to a wider spectrum of potential purchasers.
Some more specific upgrades include;
- Ensuring your entrance is well maintained, welcoming and void of clutter or unnecessary objects will assist in making a good first impression to potential buyers.
- Remove any old pots, worn furniture, and not-so-hot plants that may detract from the overall appearance of your garden.
- It may be obvious to some, but it’s still worth mentioning that keeping your lawn trimmed, mowed and watered is a must. To add some extra flare, ensure that the edges of your lawn are well maintained with potentially some sort of edging.
- If you want to go the extra mile, we would recommend upgrading your garden furniture if it’s showing viable signs of wear and tear. No this doesn’t mean you should be spending thousands on upgrades, even just giving your current furniture a lick of paint can make all the difference.
If you’re looking to sell or want more information on how to prep your home for sale, get in touch with the property experts today.