Survey reveals nice lawns improve property values by up to $100K
A national survey conducted by real estate agents Raine & Horne has discovered that a neat, tidy and lush green lawn attracts buyers to a house. The agents revealed that the phenomena occurred so often, that 93 per cent of Raine & Horne real estate agents actually recommend their clients improve their lawns before selling their house.
Of the real estate agents surveyed, 40 per cent of agents believe a nicely presented lawn can boost your home’s value by 20 per cent, while 23.3 per cent of agents surveyed believed it could bolster your home's value by 30 per cent. Given that the median price of an Australian dwelling is currently sitting at $550,610 – according to CoreLogic – 20 per cent works out to be roughly $110,000.
“The market has cooled over the past 15 months and people are nervous about getting a good price for their home. In these uncertain times, anything homeowners can do to get peace of mind by adding value to their home is a win, and first impressions count,” said Peter Diamantidis from Raine & Horne St Marys.
“It’s important to look for improvements you can make to your home that are cost effective and deliver a good return. Adding lawn is a no-brainer, it’s a quick and easy renovation that adds value and most importantly attracts more buyers."
The survey also revealed a lawn was the most popular surface for family buyers (first choice for 63 per cent), over decking (21 per cent), synthetic turf (7 per cent), paving (5 per cent) and concrete (3 per cent).
Rugby League personality and Fox Sports Presenter Nathan Hindmarsh and his wife, professional renovator and interior designer, Bonnie Hindmarsh, have recently built their dream home for their family of four boys and two dogs, where the lawn is now a key feature.
“Having a nice lawn was important to us for many reasons – it looks gorgeous, it’s the perfect surface for our family and it helped add value to our home,” said Bonnie.
According to real estate agents, the main attraction of a lawn for buyers was the improved look and feel of the property (89 per cent), added lifestyle and relaxation appeal (45 per cent) and a safe playing area for the kids (42 per cent).
This article originally appeared on Better Homes and Gardens.
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