Top 5 Yard Upgrades To Increase Home Value?
There are plenty of research on the influence of city trees and open spaces on property values especially in residential settings. With proper landscape improvements, the economic value of a home can be increased immensely. This article focuses on the hedonic valuation of city trees which would not only benefit developers and home buyers but also play a vital role in a city’s revitalization project. Read on to know how natural capital such as trees and open spaces can add value to a property, although intangibly so. The following are the top 5 landscape improvements to increase home value, based on the results of various studies on trees and residential property values.1. Advantages of homes with trees. Single-family homes with trees are generally preferred to those without. Homes with trees and those located in neighborhoods with good tree cover have a higher property value th companies that buy houses an homes without trees. The following results are from a selection of studies done on yard and street trees. Mature trees in your home’s yard can increase the value of your property by 2%. Having trees in the front yard can augment a property’s value by 3 to 5%. Neighborhoods that boast of a good tree cover can increase a home’s value by 6 to 9%. Homes located in high-income neighborhoods that grow mature trees can increment in value by 10 to 15%.2. Benefits of preserving trees on lots. Retaining trees and forest cover while developing residential sites can boost market value. Tree preservation in untreed lots has added value to the property in the range of 18 to 37%, depending on the extent of tree cover. Besides this advantage, homes on wooded lots are known to sell faster. The following is the result of studies made on market prices of treed and untreed lots.