As we approach the end of our Why Trees Matter series, we’ll focus on a benefit that is often a question of Shade Tree Program participants—how do trees enhance property value?
According to an online posting by the Arbor Day Foundation (ADF), a mature tree can hold an appraised value of anywhere from $1,000-$10,000. One study cited by ADF showed that 83% of realtors believe that mature trees have "a strong or moderate impact" on the salability of houses listed for under $150,000 and for homes listed over $250,000, 98% of realtors agree with that statement. Strategic landscaping, particularly with trees, can increase property values as much as 20 percent. Pictured right is a local Phoenix home that is a great example of strategic landscaping. Below are various property price increase estimates from an article published in Arborist News. Depending on the location, size, and number of trees, property prices can potentially increase by 15%. The article also cited that homes near naturalistic parks are usually worth 8 to 20 percent more than comparable properties.
Understanding the real estate benefits of trees is becoming increasingly important, and the Sacramento Tree Foundation has dubbed the benefits analysis as “Treelestate.” Trees can be so economically valuable that some homeowners insure their trees because the loss of a landmark tree during a storm, for instance, can depreciate the property value anywhere from 10-20 percent. Although it can take years of growth and care for a tree to reach a size that adds substantial economic value to a property, it’s worth the investment.
Next week we will conclude our series by talking about, perhaps, the most important benefit that trees provide—a place for community to happen.
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