If there is one thing that can lift a prestige property’s value by as much as 20%, it would be a well-kept and well-designed garden.
“If landscaping is well designed and well-built then, as a general rule, we say it will lift a home’s value by 10-20%,” Jim Fogarty from Melbourne’s Jim Fogarty Design told Domain News
“In addition, you should expect to double your return on an investment in landscaping. If you spend $500,000 to $1 million, you can expect to receive $1-2 million back.”
There are even instances when the returns could go beyond the usual 20%.
“The bigger the land size, the more the price can climb,” said Matt Canwell, managing director of Sydney’s Secret Gardens.
“The property becomes at least one step above everything else and you can see great results.”
Well-landscaped outdoor spaces are now more prized than ever as entertaining in alfresco areas is becoming more and more popular. Furthermore, investing in landscaping ensures an appropriate green footprint – another thing that home owners value.
The condition of the garden is also integral in forming a first impression of a property. According to Nathan Bisshop of Outdoor Secrets, visitors generally estimate the cost of fixing a rundown landscape by a factor of five.
“And if you’re selling, that instantly brings down the value of the property as a whole. While we say good landscaping can raise a price by about 20%, bad can really drag it down,” Bisshop added.
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