GROUND IMPROVEMENTS (GI)

Ground improvements are those improvements on the land and around the building (the curtilage). Generally, they include such things as fencing, footpaths, driveway, garden walls, gardens, landscaping, lawns, fountain, barbeque, swimming pool, clothesline and rotary clothes hoist.

They are usually valued as a lump sum under ground improvements as they are only a small component of value. Trying to break up into components (eg length of fencing) will result in over valuation - better to view these items as the buyer does. They are also a good example of cost not equaling value. For example, gardens and landscaping can be very expensive over time but a buyer will heavily discount their value.