Thousands of homeowners could be sitting on a goldmine – and all it takes to unlock it could be a lawnmower and a few hardy shrubs.
New research has revealed that a well-kept garden can boost the value of the average UK home by £53,650 – yet most of us are letting the opportunity slip through our fingers.
Despite gardens being one of the most desirable features for house-hunters, only 16% of Brits are investing their savings into improving their outdoor space. This is according to a survey of 2,000 people by savings platform Raisin.
And while sprucing up a garden can cost as little as £5,000, the potential return can be over five times that.
Kevin Mountford, personal finance expert and co-founder of Raisin, said: “Summer is traditionally a slower time for property sales as people turn their focus to holidays. But that’s precisely why a well-maintained garden can make your home stand out.”
He added: “With borrowing conditions having eased and mortgage rates becoming more competitive, now is a great time for homeowners to add value before they sell – and the garden is one of the most overlooked ways to do it.”
Brits spend around 17 hours a year in their gardens – mostly mowing, weeding and pruning – yet only one in five make the effort all year round. That inconsistency, experts say, is leaving tens of thousands of pounds untapped.
Gardening author Simon Akeroyd said: “The trick is to go low maintenance. Avoid annuals like vegetables that need planting and replanting. Perennials, slow-growing shrubs and small trees are easier, look good and are kind to your wallet.”
Brits who don’t want to spend hours with their lawnmowers out need not worry as Akeroyd added:“Letting the grass grow a little and just cutting a path through it can actually encourage wildflowers, bees and butterflies.”
So whether you’re hoping to boost your home’s value or simply want to save a few pennies with a longer-term view, it may be time to swap the sun lounger for a spade.
Raisin has put together a guide for those looking to taken advantage of the sun to take care of their gardens and boost their savings which can be accessed here.