Low-cost Landscaping Can Be a Wise Investment: Appraisal Institute
May 29, 2019 08:00 AM
CHICAGO (May 29, 2019) – The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to consider basic landscaping improvements that can generate a major return on investment when reselling the property.
The American Society of Landscape Architects says that homeowners’ landscaping improvements return 100 to 200 percent of their cost when a house is sold. Standard lawn care services, overall landscape upgrade, hardscape upgrade and landscape management services were ranked as the top four projects that add value for potential buyers, as well as add value to a property at resale, in the 2018 Modeling Impact Report: Outdoor Features by the National Association of Realtors.
“While curb appeal is very important to a home’s value, landscaping projects don’t necessarily have to be expensive,” said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. “Having a vision of what you want your landscaping to look like can help you determine which improvements are worthwhile. A simple change – like maintenance to the lawn – can make your yard look new again.”
The Appraisal Institute encourages homeowners to consider these four simple landscaping improvements:
Think first. Look at lawns in books or magazines to help get ideas of what landscaping improvements are desired.Then, develop a plan and start small.
Plant ground covers. Planting grass in shady areas of the lawn can be a waste of resources. Grass is a sun plant with limited abilities to shade. Try planting ajuga, pachysandra, hostas, lamium or spotted dead-nettles in those areas.
Water roots. To prevent the risk of fungal diseases by using sprinklers or sprayers, use a soaker hose or drip system to water plants at their base.
Be protective. Don’t forget to protect the lawn from animals. Spraying plants with critter repellent or installing an electric fence can prevent lawns from being destroyed.
Homeowners can learn more about how landscaping may influence property values by contacting a local Designated Member of the Appraisal Institute in the organization’s Find an Appraiser directory.
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The Appraisal Institute is a global professional association of real estate appraisers, with nearly 18,000 professionals in almost 50 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.