Niche Stories

Get Down and Dirty to Boost Home Value

August 06, 2014
Niche Stories | 2 minute read

Properly designed and nurtured landscapes can significantly increase the value of a luxury home. Jake Morin, a Program Manager for ProSight Specialty Insurance’s Construction and Casualty Practices, says, “A good landscaping job can increase a home’s market value by up to 15%.” One of the best ways to appeal to conscientious homeowners, and take advantage of this financial benefit, is to use environmentally friendly landscaping techniques and work with contractors who understand the local terrain and plants.

The climate of the area where a home is located will dictate more about the landscaping than any other factor. First, it influences which plants will thrive and which will wilt, thus aiding in plant selection. Climate also influences individual preferences — for shade, windbreaks, drainage, or drought tolerance, which must be accounted for in the design process. If left unaccounted for, climate will adversely affect both the landscaping and the home itself.

The use of native plants is a cost-effective and ecologically sound practice. Landscapes that feature native plants require less maintenance than yards which import their greenery. This means that the need for pesticides, fertilizers, or herbicides is reduced, which leads to improved air, water, and soil quality. Additionally, these yards require less watering and weeding, which homeowners will be grateful for.

Another area of concern is pest management. Current best practices incorporate the theory of Integrated Pest Management (IPM), which is tied to plant selection. By utilizing a coherent blend of native vegetation, the landscape can be not just a yard, but a healthy ecosystem which leverages the symbiotic relationships of plants and animals to help prevent pests long term. Morin notes that if you are unfamiliar with local plants, it may be beneficial to hire someone to consult with to ensure that gardens and other outdoor areas can remain vibrant, friendly, and free from unforeseen problems.

 

For more information on ProSight’s insurance products for luxury homes, please contact Jake Morin.