Owning a home is a milestone most people undertake in their lives. We work hard to maintain our houses, and in that act, we hope that we’re upping the property’s value. How much weight does this work add, though? Here’s how to know how much value your yard adds to your home, and if it’s worth it to go for a bigger one when shopping for a home.
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Location and Population
It may surprise you to realize that a yard of the same size can drastically change a home’s value in three different areas. If you’re in a heavily metropolitan area, even a small amount of green in your yard can raise your property’s price by dozens of thousands of dollars. That same space can be seen as tiny and lower the cost of rural homes who want more room to spread. Generally, the best size of the yard to have is at least double the square footage of your home, since this can increase the value of your property.
Type of Yard
What type of yard do you have? If you’re in Arizona or Colorado, a stone yard may be the norm, but in states like Massachusetts and Virginia, the grass is a must if you want to sell. Look at your area and decide if you have the norm for a yard. Trying to grow grass in Arizona could cost homeowners upwards of fifty dollars a month in just water usage, and the grass often still won’t turn out entirely or last for long.
Upkeep of Yard
Landscaping is a trend that dates back well past the incredible french gardens of the 1700s. A manicured and curated yard can draw in constant attention and praise. It raises the average two hundred thousand dollars home in value by nearly forty thousand dollars and is heavily sought after in almost every income bracket.
Although it is more expensive to upkeep a yard that has landscaping done, in the end, the phenomenal increase in value makes it worth it.
Neighbouring Property
What yards are around your property? If you have a neighbour with a yard full of dandelions, they let go to seed, affecting your home value. We don’t often think of our neighbours when considering our home’s price, but if your neighbor keeps cars in their grass and doesn’t upkeep the lawn, you could lose out on 10% of your cost when selling your home.
How Much Does it Add? The average well-maintained yard can add 10-15% to the value of your home. A larger and better-maintained home will bring in more money than a smaller and overgrown one, but it’s also important to remember your home’s location and size. Although no mortgage estimator could ever pin down the work and time you put into your lawn, any improvement is good. Take the time you need to make your lawn shine, and make all of your neighbours jealous.
