A Beautiful Lawn Adds Value to Your Property

For nearly 20 years, many studies have focused on the economic impact of environmental development and landscaping, particularly on property value. We know today that a plot covered with mature trees or a landscaped frontage substantially boosts the selling price of a home. But what about lawns? Does what we’ve always taken for granted also enhance the price of a house?

The answer is yes. A lawn at the front and around the house brings more than the satisfaction of admiring a carpet of green. A lawn alone increases the value of a property by 15% to 20%. This is partly attributable to the sense of safety and security produced by a plot with a well-maintained lawn? Realtors all agree: houses with nice lawns sell faster and attract a higher price. The same is true for condos and apartment buildings. Building managers confirm that tenants are more satisfied and vacancy rates are lower when frontages have green spaces.

But although it is acknowledged that trees and flowerbeds also add value, it is interesting to note that too-landscaped a frontage has the opposite effect. A Quebec study shows that vegetation that is too dense in front of a house can have a negative impact on the value of the property. Which suggests that a lawn is an ideal solution for a clean and tidy frontage to maximize the return on landscaping.

Opposite a park? Great idea!

The impact of grassy areas on property prices surpasses even that of the property itself. In fact, people are prepared to pay more for a house near a park or green space. Numerous American studies confirm that the value of a house facing a park or beside a park can be 20% higher than otherwise. Even if the house is a few blocks from a park, its value is still 10% higher than it would be elsewhere. This tends to show that municipalities strip away certain land benefits by encroaching on green spaces in residential areas and that they would easily recover “lost” subdivision revenue by investing in public green spaces.

To find a garden centre, nursery, sod grower or landscaper:

Resources:

Anonymous. Lawn and turf benefits. Landscapeontario.com – Green for Life. Consulted online.

Crompton, John L. 2001. The Impact of Parks on Property Values: A Review of the Empirical Evidence. Journal of Leasure Research. National Recreation and Park Association. Vol. 33, No 1. Pages 1 à 31.

Des Rosiers, François; Thériault, Marius; Kestens, Yan and Villeneuve, Paul. 2002. Landscaping and House Values: An Empirical Investigation. Journal of Real Estate Research. American Real Estate Society, vol. 23(1/2). Pages 139-162.

Beauty   Environment   Health and Quality of Life   Economic