Do you have an old tree on your property that you love? You might want to make sure you do everything possible to preserve that tree… for the right buyer, old growth trees can add tremendous value to your property.
Landscaping plays a major part in your home’s curb appeal. When preparing a home for sale, it’s common practice to spruce up lawns by planting fresh flowers, bushes, weeding, trimming back trees, and staying on top of the overall condition of the lawn.
But there is one major contributor to your property’s value which you can’t just drop in when you’re getting ready to sell: old growth trees. It turns out that the number and quality of established, mature trees on your property can have a direct impact on the value of your home.
In a recent article in the Wall Street Journal, “Leafy Luxury: Mansions With a Tree Premium” (http://online.wsj.com/articles/leafy-luxury-mansions-with-a-tree-premium-1417015300), reporter Amy Gamerman took a look at several real-life examples of the role stately trees have played in the purchase and pricing of homes. (While many of the homes are luxury estates, it stands to reason that an old, healthy tree on any property can be a powerful differentiating factor.)
A couple of interesting facts from the article:
“According to Wes Kocher of the International Society of Arboriculture … homes with mature trees and well-landscaped yards can sell for as much as 20% over homes without those features.”
“A 2010 study by the U.S. Forest Service conducted in Portland, Ore., found that the presence of a single “street tree” in front of the home added over $7,000 to its sale price. The street-tree effect spilled over to neighboring houses, increasing property values as well as helping the homes sell faster.”
If you think about it, it makes sense. It can take a generation or two to establish magnificent trees, and it’s not the sort of thing you can easily have transplanted (though people have paid a premium to try this).
If you have old trees on your property, this article might reframe how you think about them in terms of the value of your home. Are they healthy? Is there anything you might need to do to protect your “tree equity”?
If you’d like to see some homes on the market with serious tree equity, get in touch with me, your trusted local real estate professional. Call me at (905)940-3599 or email me at firstname.lastname@example.org today.