If you’re trying to sell or rent your property, it’s important to make it as attractive as possible, both inside and out. A property with good aesthetics will not only attract more potential buyers or renters, it will also command a higher potential sale price or monthly rent. As such, a little money invested in landscaping could lead to a bigger financial return in the long run.
Why is Landscaping Necessary?
Most real estate agents agree that the external appearance of a property can make a big difference to its value. A study by lawnmower brand Husqvarna involving 5,000 international homeowners found that a well-maintained garden could increase the price of a property by around 16%.
Another study by the University of Western Australia found that a leafy street with trees planted on the nature strips could increase the median value of properties along it by almost $17,000. This “curb-appeal” factor is likely to be even more important for property sales in the country as outdoor space for relaxing and socialising is an important part of Australian social culture.
Landscaping doesn’t have to be expensive, and there are several affordable and easy ways you can increase your property’s price. However, in some cases it may be worth making a bigger investment, depending on the type of property and the market you’re aiming at.
Below are several landscaping tips you can employ to drive your property’s value upwards.
1. Add an outdoor dining area
A survey carried out by realestate.com.au found that 20% of people looked for an outdoor dining area, a figure that is not surprising considering the nation’s love of barbecues and garden meals. You can invest as much as you want in an outdoor dining area, either by simply adding a wooden table and some chairs, or going all out with decking and a dedicated barbecuing area. Don’t forget to add a shade for those areas, too.
2. Upgrading fences
Fences mark the boundaries of your property and provide additional security. They’re especially important for buyers with pets or young children who will be looking for safer outdoor spaces. Wooden fences are relatively low-cost and straightforward to install. If your property already has one, an easy way to improve it is by adding a fresh coat of paint or filling any gaps it may have.
3. Planting garden beds
Attractive and colourful ornamental plants can make a huge difference to the attractiveness of your outdoor space. They also help define the edges of your property, so it’s well worth adding them if all you have is grass. If your garden already has planted beds, take time to weed and tidy them up and neaten the edges with a sharp spade. You could also add bricks or stones to give more character to your garden as well as provide it with a pathway for guests.
4. Re-lay your lawn
Re-laying your lawn with fresh turf will make it look neat and well cared for. It can make a significant difference in the overall look of your property’s facade, particularly if your existing lawn is patchy or full of weeds. It’s a reasonably low-cost option for small lawns as well—turf only costs around $4.50 to $8.50 per square metre. But making sure everything’s done right, from the preparations and laying to the maintenance afterward, can be preclusive for some. It’s important to ask for advice and do your own research first about the process and what you’ll need.
5. Add a fire pit
Adding a fire pit is a popular landscaping trend for this year. Fire pits make the outdoor space around your property attract more activity as they’re cosy and inviting for outdoor gatherings, especially during winter. A recent study by home renovation and design website Houzz showed that 30% of homeowners were adding fire pits to their outdoor spaces, which means there is legitimate demand for them. Please remember to check with your local fire authority about when you can no longer use your fire pit during summer.
6. Upgrade your pathways
Cracked and broken paving can be unsightly, dangerous, and will prove very unattractive to potential buyers or renters. Replacing or upgrading your driveways and paths can change the whole look of your property’s exterior. This option is suitable for a wide range of budgets depending on if you choose poured concrete, gravel, or stone pavers. You could also try choosing different colours or painting the material you’ll use to match its appearance with the rest of your property’s look.
7. Go for outdoor lighting
Outdoor lighting comes in a wide range of selections, from delicate twinkling fairy lights to powerful security floodlights. It’s also another way to make your outdoor space more functional and is particularly important in making an outdoor area useful for socialising at night. Aside from making it easier for you to hold activities after sunset, outdoor lighting has added property security potential with the emergence of motion-sensitive lights.
8. Landscaping can be ‘skyscaping’
You can also go for landscaping if you want to improve your apartment’s appearance and, therefore, potentially increase its sale or rental value. Refresh your balcony by placing planter boxes on it with colourful flowers that can really brighten up the property and make it stand out from the other units. You can purchase a basic planter box (or window box if you don’t have a balcony) for around $15 while native seed packets cost only a few dollars. Don’t forget about bringing the outdoors in—a few house plants and some herbs on the kitchen windowsill can make a big difference.
It’s true that landscaping will cost you and require a bit of effort on your part. However, if you do it right, not only will you be able to offer a better-looking property to buyers or tenants, you’ll also be able to gain back much more than what you initially spent for landscaping. Sounds like a pretty good deal, right?
But of course, landscaping is just one of the many ways you can improve your property’s value. If you want additional advice or guidance in property investment, or loan acquisition don’t hesitate to contact us at Clever Finance Solutions. We know the value of a sound investment and informed financial decisions for you and your loved ones, and we’ll work with you to help you avoid any mistakes. Schedule an appointment with us today and let’s get you started on the right financial path.