If you are working on a park or playground project, you likely want to make it attractive to nearby homeowners. Whether those homeowners have children or not, you can appeal to them with how parks and playgrounds affect home values. Many home and business owners wonder what raises property value. That is where your project comes in. Creating a green space benefits property values and the lives of residents and visitors in the area. Learn more about how parks and playgrounds affect home values in positive ways below.
Proximity to Parks
Living near a park — anywhere less than half a mile away — boosts property values. Homeowners can see an increased value anywhere between 8% to 20% for their homes with a nearby park. That could give properties tens of thousands of dollars in added value. So how does proximity to parks affect home prices? Green spaces provide benefits like these to nearby properties:
- Improved view from home: Park view homes have improved scenery. Parks and playgrounds are more visually appealing than undeveloped plots, and green spaces create a beautiful, natural view that can reduce stress. A stunning view also makes prospective buyers more eager to move in. If the current homeowners are not looking to sell, they get to enjoy the improved view that comes with living close to a park.
- Increased quality of life: Even if homeowners do not plan to sell in the coming years, they can enjoy the green space. Green spaces are particularly valuable in urban areas. The National Recreation and Park Association (NRPA) emphasizes the necessity of green spaces. The association reports that various studies have confirmed that being separated from nature has negative impacts on human development and health. Getting outside, especially in green spaces, benefits mental health.
- Added convenience: Without a green space, urban area residents have to travel to rural places to enjoy the outdoors. With a park essentially in their backyards, homeowners can simply walk, bike or take a short drive to green spaces nearby. They will have a convenient outdoor space to gather with neighbors, friends and family members.
Playgrounds Attract Families
Families may love to move into an area with a new playground. Perhaps they do not have ample yard space with their property for their kids to enjoy. A playground provides an option for families to get outside and get active together. Playgrounds and parks suitable for kids can also attract visitors and tourists to the area. How does that influence home value? With an increased interest in the area thanks to a playground, anyone nearby selling their home may receive more offers. Increased offers and competition could mean sellers get more when someone purchases their home.
Playgrounds are also attractive amenities in an area that potential buyers may want. If you make an impressive playground, the area will be attractive to potential buyers, especially families. That appeal can help boost property values. To make your playground even more appealing to families, include features like these:
- Playground elements for varying ages: Provide play spaces for kids of varying ages to attract a wide array of families. Early childhood playgrounds and equipment for kids 5 and under help kids develop motor skills. School-age equipment for kids ages 5 to 12 suits their unique play needs with more challenging equipment. Fitness and wellness products get older kids moving, giving them a place to get out their energy and stay active and healthy.
- Seating areas for adults: Adults bringing kids to the playground will not always want to stand and watch their children for the entire visit. Give them benches or picnic tables near play areas. That way, adults or tired kids can sit and relax in the beautiful green space. Picnic tables provide a place to eat or do work outside while adults visit the playground with children, as well.
- Shaded areas: Make your playground usable for families during the summer with shade structures. You can improve guests’ experience at the park or playground, giving visitors a place to seek shelter from the sun or pop-up rain showers. As a bonus, shade structures protect amenities in your playground, like play equipment and seating, from the elements.
Other Features That Add Property Value
If you are developing different areas of a town or enhancing your green space design, use other features to boost property value. Potential homebuyers will look for valuable areas and amenities as they decide what neighborhood they want to live in. They may look for convenience, decorative additions and other benefits. Boost property value and make your neighborhood more appealing by adding:
- Walkable areas: Developing an area that is walkable offers many benefits. Crosswalks with lights and well-lit and maintained sidewalks add walkable infrastructure for residents. They can then easily access nearby businesses and the new park or playground you install. Walkable areas also help keep pedestrians safe as they traverse the neighborhood.
- Trees: Add a natural touch to your green space or along streets to help boost property value. Mature trees can provide anywhere between a 2% to 15% increase in value for nearby properties. Trees improve the look of an area, whether it is urban or rural, and they provide nature-based stress relief.
- Community gardens: Incorporate a community garden into your park or playground for increased property value. Over a span of five years, the value of homes within 1,000 feet of a community garden can go up by almost 10%. A community garden provides a place for kids to learn about plant life and growth. Residents can also gather with or meet neighbors and enjoy freshly grown produce from a community garden.
Enhance Property Value With Park and Playground Equipment From Playworld
Parks and playgrounds add plenty of value to a neighborhood. Enhance the addition when you use quality equipment and furnishings from Playworld. When you work with us, you will benefit from our dedication to providing opportunities for play to kids of various ages and abilities. Because we are in the community-strengthening business, we know how beneficial parks and playgrounds are. We understand how much value a green space adds, both to property values and to the people who live near it. Give residents and visitors quality Playworld structures to use, and you can add even more value to your park or playground.