NEWS HIGHLIGHT
Landscaping increases property value
New research shows upgrading home landscaping does increase property value.
Research published in the March issue of HRI's Journal of Environmental Horticulture shows upgrading home landscaping does increase property value.
Impacts of the quality of landscaping and percentage of tree cover
on home prices were estimated from a sample of 75 home sales within the
Melonie Park neighborhood in Lubbock, TX, from 2003 to 2005. Estimates
were derived using a regression of house sale price on house
characteristics, landscape quality, and tree cover. Homes that improved
landscaping from average quality to good or excellent quality increased
selling price by 5.7 and 10.8 percent, respectively. Approximately 30
percent of the increase in sale value was accounted for by added tree
cover. The results show that each $1.00 invested in upgrading an
average landscape to excellent quality returns $1.35 in added property
value.
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