June 9, 2015 12:55 am
“If landscaping is properly maintained, the impact on home values can be positive,” says Appraisal Institute President M. Lance Coyle, MAI, SRA. “However, it’s important for homeowners not to exceed neighborhood norms when upgrading.”
Curb appeal is an important factor when selling a home, Coyle adds, noting that it is one of the best ways for property owners to make a positive first impression. A home with landscaping that is dated or not appropriately maintained can be a turn-off to prospective buyers and can have a negative impact on the home’s potential resale value.
Coyle says homeowners should ask themselves the following questions when it comes to their home’s landscaping:
• Is the landscaping nice enough to make the prospective buyer walk through the front door? Keep the design modern and on-par with comparable properties in the neighborhood.
• Could the landscaping help future owners save money? Landscaping that needs minimal, if any, water to maintain could be attractive depending on the geographic area.
• Does the landscaping help with the property’s energy efficiency? For example, it’s a good idea to plant trees in a location where they provide shade in locations with year-round hot climates.
If you’re installing a new landscape or planning to revamp an existing one, the EPA’s Energy Star program advises selecting plants that are appropriate for their climate and using a suitable landscape and irrigation design. Homeowners should also consider landscaping techniques using low-water and drought-resistant grass, plants, shrubs and trees.
Source: Appraisal Institute
Published with permission from RISMedia.