Economic Benefits of Landscaping
Did you know that planting some green can actually help your business or commercial property earn some green? It’s true! Proper placement of plants, along with proper maintenance of a property’s landscaping can result in saving money on heating and cooling, as well as increasing both worker productivity and the number of customers. But how can something so simple have such a profound impact on our properties? Let’s dig into the research behind this plant phenomenon.
Dr. Leonard Perry from the University of Vermont says that, “Landscaping can add up to 14 percent to the resale value of a building, and speed up its sale by up to 6 weeks.” This is a large increase considering the only thing at work in this situation is pure aesthetics. It might sound obvious but for business people who may find themselves distracted by the bottom line, it’s easy to forget that creating an environment that is welcoming and visually appealing is essential.
You’re not just selling a property, you’re selling an office, shop, or home. A place your potential buyer will spend the vast majority of their time, so make it a place they enjoy. Make it the sort of place people can’t wait to visit. This is further supported by the publication, Irrigation & Green Industry, whose authors report that attractive landscaping on a commercial property leads to increased occupancy rates and higher rental rates. This isn’t just true for owners or renters, it’s true for customers as well. Dr. Perry states that, “A survey in the south showed that almost ¾ of the public preferred to patronize stores that were well-landscaped, including landscaped parking lots.”
It’s important to note that indoor landscaping produces similar results. As Steven McLinden, writing for Shopping Centers Today, states, “[. . .] when these visitors are surrounded by an inviting set of landscape features, they will feel a stronger tendency to linger for a ‘two-hour vacation’—something that will not happen at all if they instead stay home on the couch and shop online.”
Not only can landscaping increase your property’s value, it can help you save money every year on heating and cooling costs. Irrigation & Green Industry reports that, “[…] the proper selection and placement of plant material can lower heating and cooling costs by as much as 20 percent.”
LoveYourLandscape.org reports that, “Grass is much cooler than asphalt or cement. It acts as an ‘air conditioner’ for the surrounding area.” And that, “Trees shading homes can reduce attic temperatures by as much as 40 degrees.”
Having a big event is always a way to attract more customers but did you know that this also applies to large landscaping installations? According to Shopping Centers Today, a shopping mall in Minnesota, “[…] created an indoor floral experience for 15 days, starting in late March, through displays of splashy floor-to-ceiling gardens of flower, plant, and tree varieties. Shoppers responded with holiday-level patronage—generating a year-over-year traffic increase at the 2018 inaugural event of about 60 percent, plus sales increases in the double digits.”
Is such a display too big for your budget or property? Then think a little outside the box. As Shopping Centers Today reports, “Consider also such features as playscapes, splash pools and large fountains—because when the kids want to play, the parents will stay.”
These are just a handful of the ways you can improve your commercial property through landscaping. Not only that, but as we will see in the upcoming blog posts, the economic benefit that comes with sprucing up your property is only one of three major benefits—The other two being psychological and environmental.
Interested in gaining some of these fantastic benefits? Now that you know all about the economic benefits of landscaping it’s time to get started!