Welcome to Wisteria Lane. Want to increase the value of your home? Spruce up your yard. With no self interest in mind, we’re sure, the good folks at Scotts Miracle-Grow report in a new ad campaign that a beautiful lawn and garden can increase property values by up to 15%. Want to get out of town fast? The company, which posts more than $2.3 billion in worldwide sales, notes that 99% of members of the Society of Real Estate Appraises say landscaping increases the speed of home sales.
Over the hedge. The National Gardening Association (NGA) reports that while an average of 80 million U.S. households — three out of four — have participated in one or more types of indoor and outdoor do-it-yourself lawn and garden activities annually for the last five years, that number has shown a decline in two of the last three years. Fewer than half of all households did their own lawn care last year, and even fewer have a flower garden (36%) or a vegetable garden (22%).
Bring me a shrubbery–cheap! On average, people spend less than $500 a year on their lawns and gardens, according the NGA. In fact, most spend less than 1% of their annual household income each year on their yard. Last year the nationwide average was $449, which was down from $457 the previous year and $466 the year before that.
Hammer time. The Harvard Joint Housing Studies reports that Americans spent a record $149.5 billion on home remodeling during 2005, up 4.3 percent from the previous year. “We are starting to see signs of softening in the remodeling market,” said HJHS director Nicolas P. Retsinas. “Rising short-term interest rates and slowing home price appreciation have tempered homeowner spending on home improvements.”
I see a red door… and I want to paint it black, but where do I buy the paint? An online poll by the Paint and Decorating Contractors of America says that 58% of members purchase sundries from big box stores, while only 17.6% purchase paint from such retailers. Overall, 64.7% say they make less than 10% of their annual paint and sundry buys at Home Depot-type locations.
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