This Simple Trick Could Increase The Value Of Your Property
It may seem like the simplest trick in the world but when it comes to adding as much value as possible to a property, we're being told that this one thing could actually add a whopping $20,000.
While adding a fresh coat of paint or updating the old carpet doesn't go unnoticed, we're being told that the most effective way to add value to your home, as confirmed by researchers at the University of Queensland, is through adding just the right amount of greenery to the front yard.
And when you think about it, it makes sense seeing as this part of the property is where potential buyers will develop their first impression. And apparently trees and shrubs are exactly what they're looking for!
In fact, the study showed that having lots of plants in and around your front yard can instantly add up to $20,000 to your humble abode.
Dr lyndal Plant (oh the irony) said that the right amount of greenery could convince homebuyers to pay above the average price for properties.
"When we put that into the equation it revealed home buyers were prepared to pay a significant premium to live in a leafy street and that premium was up to 3 per cent," Dr Plant (we swear it's her real name!) told Domain.
So if we follow this equation and look at the median house price for Melbourne for example, which Domain reported to have risen to $880,902 by mid October, that would equate to around $26,000 in extra value!
Of course, Dr Plant also told us to remember the importance of everything in moderation.
"Too many trees on the property was actually a negative. There was a threshold of tree cover on the property that flipped it around and made it a premium," she said.
"The flipping point was about 20 per cent, which is about one tree or about two trees covering a fifth of the land."
There you have it folks! If you're planning to sell anytime soon you'd best head on down to a nursery ASAP...just don't go too overboard.