Abstract
This research examined the impacts of improvement in landscape quality and exterior house features on residential property values. These two combined factors are referred to as ‘curb appeal’ — i.e., the visual appearance of a property as viewed from the curb in front of a house. It is well understood regarding residential property that curb appeal affects house value, but a quantitative estimate of the size/magnitude of the effect is not available. This study developed a quantitative indicator of curb appeal, included it in a hedonic house pricing model, and determined its independent effect on values. Results confirmed that curb appeal has a positive impact on house value, with landscape and house appearance approximately equal in impact. With improved curb appeal, house price can increase up to 17%.
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