Within this article we’ll review how landscaping affects house prices for first-time homebuyers. Now, you may be asking yourself how buying and landscaping are connected. Well, from my point of view as a Realtor, I have found that many first-time buyers don’t understand the true cost of professional landscaping work.
Landscaping Can Affect Price – The Level of Pricing Variation Depends on Quality
In general, there are two ways to landscape a home –
- Through a certified and highly qualified professional
- On your own, using store-bought tools
If the person who has completed their own landscaping work is highly skilled, you may not notice the difference in quality. Some homeowners may even complete the work to a better standard than a professional.
A landscaped yard may not stand out to the first-time homebuyer. But to someone who has years of industry experience, such as myself, you can tell when a homeowner has put in that extra effort. I often notice some of the following features when a homeowner has gone the extra mile with their landscaping:
1. A new garage door has been installed
2. Their garden is filled with lush, green grass
3. They have expensive trees planted in their garden
4. The driveway has been professionally paved or sealed
5. They utilize interlocking stones
6. They have an updated porch setting
7. They have a new deck
8. They have had high-grade fencing installed
9. The garden features a fountain
10. They have a wide array of flowers in the garden
Landscaping Can Cause a Rift between Buyers and Sellers
The buyer does not know the unique cost of each of these items. While the seller sees landscaping as an investment, having paid a certain amount for each element, often at great personal expense, the buyer only notices the overall aesthetic appeal of the landscaping work. The differing points of view of the seller and the buyer can thus cause a difference of opinion on the overall price of the property.
First-time buyers might be hoping for a reduction on the overall price because of the amount of upkeep the sellers landscaping additions will require, and sellers will be hoping to recoup their landscaping investment costs.
Save Money by Choosing a Low-Maintenance Property!
My best advice for first-time homebuyers is to search for a property that won’t require a lot of annual maintenance. Find a property that has had minimal personalized landscaping work completed by the previous owner, as this will allow you to save money and integrate your own personal style into your landscaping plans.
If you have any questions in regards to first time home buyer’s tax credit in Toronto area, please fill out the form bellow – I respond to ALL inquiries!