A 10% Landscaping Investment Increases Appraised Home Value
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to pay close attention to their property’s landscaping as it could have a major impact on value. In fact, a well-landscaped home can add approximately 6 to 13% in value compared to a property with no landscaping, according to one source.
“Don’t underestimate curb appeal. A home with lackluster landscaping or an exterior in desperate need of a fresh coat of paint will likely be unappealing to prospective buyers and, ultimately, could affect the home’s potential resale value,” said Appraisal Institute President James L. Murrett, MAI, SRA. “Consumers need to ask themselves if their landscaping is attractive enough to make a prospective buyer walk through the front door.”
Currently, the 13.3% of U.S. adults who plan to pay for landscaping services night not have time for chores. According to AudienceSCAN, at least 10.4% of these folks will be hitting the links with their new golf clubs or apparel. About 42.1% of Landscaping Customers are over the age of 55. Most (69.5%) are married with no children living at home (51.3%). Another 19.2% also plan to pay for retirement planning services within the next 12 months.
The Appraisal Institute encourages homeowners to consider these four landscaping improvements:
Stick to the essentials. Spending a relatively small amount on design basics such as a winding flagstone walkway, stone planters and flowering shrubs typically provides a solid return on investment.
Plant a tree. A survey conducted by the U.S. Department of Agriculture Forest Service showed that mature trees add an average of 10% to a property’s value.
Think local. Purchasing plants that are native to the homeowner’s region, or that need little water and maintenance, can help consumers save money.
Landscaping Customers aren’t going to stop at making their yards look nicer. According to AudienceSCAN, 21% of these consumers plans to buy patio furniture this year and they’re also 82% more likely than other adults to plan to purchase outdoor barbecue equipment/grills as well.
Be efficient. According to the U.S. Department of Energy, well-placed trees, such as those that block shade, can reduce energy bills by up to 25 percent.
While Landscaping Customers may be wanting the outside of their house worked on, the best place to advertise to them is inside. There, according to AudienceSCAN, 49.7% are getting most of their local news through the TV, which is also the medium that inspired 67.8% of Landscaping Customers to take action after seeing a commercial within the last year. Their second best source of news, the newspaper (22.2%), also drove action from 55.7% of this audience last year. While they’re outside getting the paper, advertisers can slip some ads/coupons into the consumers’ mailboxes as well since 65.5% of this audience took action after receiving them in the last 12 months.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. Media companies and agencies can access AudienceSCAN data through the AudienceSCAN Reports in AdMall.