A HOUSE is likely to sell faster when it has a beautiful garden than a property that has no plants at all. Redesigning your garden is an exciting prospect and it can help you achieve high-value returns.
A recent report found that a broad-leafed tree located on a street verge in front of a home increases the median property price by about A$16,889 (RM52939.04).
Some popular ways to elevate your property’s value before auctioning or selling it is to give the walls a new lick of paint and repair any damaged areas to woo potential buyers.
But, according to University of Queensland researcher Lyndal Plant, we can add “planting a few trees” to the pre-sale agenda, which makes a solid economic case for retaining or increasing the amount of greenery in our area.
Her research was to help justify investment in leafy streets and, more broadly, to justify ongoing investment in green infrastructure.
She said house buyers were prepared to pay a significant premium to live in a leafy street and that premium was up to three per cent of the house price.
While Brisbane’s median house price currently sits at A$551,840, that translates to an extra A$16,000 if you plant some trees, Sydney’s median house price of A$1,178,417 would equate to A$35,000.
However, it’s important not to go overboard in your quest for extra wealth.
The flipping point was about 20 per cent, which is about one tree, or covering a fifth of the land, said Lyndal.
Aside from financial gain, having trees on your property provides privacy, improves air quality and provides a sense of tranquility.