Sunday, October 2, 2011
Gardening and the value of your house
Did a fair bit of gardening today, thanks to a visit from my dad, who just so happens to have a wonderfully loud chainsaw. We trimmed off virtually all of the trees in the backyard and then I proceeded to pull out all the ferns. I have plans to create a formal look, with a lot of hedges and neat gardens. The missus has dictated that there still must be room to kick a footy and run around a bit, but when you start with a 600 square metre block, something has to give. Anyway, I have an idea or two to incorporate into this design, which will hopefully mean that we can have both; a bit of garden, a bit of grass.
It got me thinking; how much value does a neat or established garden add to the value of a property. I mean its obvious that it will present better during the sale. But, is the intrinsic value, the time you put into it, really amount to anything in terms of dollars?
I think it does, especially if someone with any interest in gardening is looking at the property. Established trees, or a neat weed free laws, or some established hedges all contribute, lets say to the tune of around 1-1.5%. So in a property that is let's say on the market for $300,000, the garden may contribute between $3000 to $4500. This may not be apparent at first, but subconsciously, I bet its there. When I bought this place, I saw a few hedges and already I was thinking about the amount of time that those, being established, will save me. Was it to the tune of 1-1.5%? Hard to say, and I think this is the overall issue with placing a dollar value on this particular item during a purchase. Its just 'hard to say'. You simply can not put a value on the countless hours that has gone into a garden, even a simple one.