Home owners who invest in landscaping their garden could see their property value increase by 77%, new research suggests.
Indeed, doing up a garden could add more value than a new kitchen, extension or conservatory, according to the study from Post Office Money.
It also found that one in five home owners have landscaped their garden in the past five years, costing on average £2,750.
The analysis was based upon the median asking price of a three bed semi-detached home in the UK at £286,000.
After garden landscaping the next biggest price earner was a gym, adding 44% for an average cost of £10,00, followed by an extension, costing £80,000 but adding 37% to the value of a home then a walk in wardrobe adding 34% for a cost of £3,400.
The analysis also shows a jacuzzi or hot tub, costing £6,000 would add 27% in value, a new kitchen costing £7,500 adds 26%, a swimming pool costing £30,000 adds 22%, a basement conversion costing £90,000 adds 17%, a conservatory costing £9,000 adds 10%, a new driveway costing £25,000 adds just 9% and a wet room costing £7,500 only adds 7%.
The research found that 28% of those who carried out these kind of improvement to their property did so because they thought it would be a good investment and would add value to their home.
The most popular reason for making home improvements was to improve the look of a home at 59%. In order to fund this, some 74% used savings, 16% used a personal loan or credit card, while 6% used equity release or mortgages.
‘Over the past few years, house price growth has slowed, so home owners have turned to other options to add value to their homes with improvements being a clear opportunity. Making the right changes to your home can increase its market value significantly, with garden landscaping coming out on top for the most value added,’ said Chrysanthy Pispinis, of Post Office Money.
‘However, home improvements are not all about making changes which add value for re-sale; 63% of the home owners we polled had no plans to move. Renovations allow home owners to create homes that reflect their needs and tastes, with the potential added benefit of adding value in the long term,’ she added.
