Can Trees Affect Your Home Value?
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Did you know that the trees in your yard can actually add value to your home? That’s right–it’s not just those granite countertops, that glamour bath, or the imported bamboo flooring that makes appraisers go gaga. So, exactly how can trees affect your home value? It comes down to the desirability of what’s growing in your yard and on your geographical location.
The Benefits of Healthy Trees
Mature trees in your yard can actually add value to your home as long as they are in good health and do not jeopardize the integrity of your home’s foundation. In fact, if you know the species of trees in your yard, you can actually determine how much value they will add to your home by using this handy tree benefit calculator.
According to Houselogic, a red maple tree with a 24-inch trunk diameter adds an extra $244 in value to your home if you live in McLean, VA– and $207 if you live in Beverly Hills, CA. If you have several of these trees in your yard, this means your property value could be affected to the tune of $1000 or more.
Unhealthy or Hazardous Trees
Bear in mind, however, that unhealthy or hazardous trees could actually detract from home value. A sickly tree that is in danger of breakage or falling, or a tree whose root system has grown so close to the home’s foundation that it’s causing bowing basement walls or other structural issues, could definitely have a negative effect on your property value.
These types of issues can be costly to repair; especially if the root system is causing foundation damage. Removing hazardous trees from the property may increase property value and make the home sell more easily.
Other Tree Benefits
While healthy trees do, indeed, look beautiful, there are other ways in which trees affect your home value.
In addition to looking pretty, trees can be helpful on your property because they help to soak up excess water after a rain storm, provide shade to decrease energy bills in warm months, and help to minimize the amount of pollutants that drain into local streams and rivers.
The tree benefit calculator actually itemizes these benefits and creates an annual savings profile based on tree type.
For example, an apple tree with an eight inch trunk diameter at a single family residence in Cuyahoga County, Ohio provides $50 in benefits each year, according to the calculator. From savings on natural gas and electricity to increased air quality to improvement in stormwater drainage, that single apple tree provides many benefits– and actually adds about $20 in home value in and of itself.
Considerations
If you’re looking to purchase a home, make trees a priority. Not only can trees affect your home value, but they’ll provide many benefits while you live in the home.
To get prequalified for a mortgage, or to get a no-strings attached mortgage refinance evaluation, call a knowledgable NLC Loans Personal Mortgage Advisor today at 1-877-480-8050.
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