In Australia a natural lawn adds up to $75,668 on average in value to a property. Specifically it is estimated that a well maintained lawn will add $48,600 to a $405,000 property in Queensland, that’s an added value of 12%.
A study commissioned by Turf Australia and released in 2012 confirmed what we all had long believed, a backyard with a natural lawn does add value to your property.
It also found that 80% of the population prefer a lawn that represents a third of the total size of the property, the backyard is back! Luckily in South East Queensland most backyards still make up at least 40% of a house block (60% in some areas).
And why not? Natural lawns provide a place to entertain, relax and exercise. They offer environmental benefits and aid in the natural cooling of your home, reducing air-conditioning costs.
With all upgrades or additions to your home and land the important aspect is not to over-capitalise, but with an average South East Queensland lawn it would be hard to do. In 2012 the average house block size is 200m2 – 350m2 down from 810m2 – 910m2in the 1950s, with backyards utilising between 50 – 100m2. So even laying a premium variety of turf will set you back between $495 and $990 (less if you take advantage of free delivery or farm pick up options and your DIY skills during installation). Putting things into perspective it is a minimal outlay for a fantastic return on your investment.
You should also take into consideration how a lawn/backyard adds to the value of your property, before you undertake extensive paving activities or putting down decking.
A time that you really should consider the state of your current lawn and its impact on the value of your property has to be when you make a decision that it’s time to sell.
According to homesale.com.au, ‘When selling your home, presentation is not only the key to the success of your sale, but also for getting the price you want. If you’re smart about it, investing some time and money into how your property is landscaped can make a big difference to your final sale price.’
There are a few things to note, if you are installing a new lawn in order to ready a property for sale:
- A lawn will take a few weeks to fully establish and during that time it will require a bit of TLC and regular watering.
- If you cannot afford to lay new turf throughout the entire property, you should at least consider the front lawn. It will enhance the street appeal of the home and this is where many decisions to buy or not to buy are made.
- Will you still be living in the home or putting the house on the market whilst empty? A new lawn will require regular maintenance, so it is preferable that someone be available to complete this.
- Speak to your real estate agent, they are the best possible people to know what potential buyers are looking for in your local area. If it’s highly likely that new owners will add a pool or a back deck, than a new lawn may not be necessary or appropriate. On the other hand if the potential market is full of young families seeking a soft, safe area for the kids to play and kick a ball around then a newly laid turf, may just be the thing to get a signature on a contract.
Obviously Australia’s love affair with the great Aussie backyard is far from over and in fact a great backyard is increasing the value of your home. A 12% value increase should not overlooked.