In a housing market that is seemingly getting worse each month, it’s important to retain the value of our houses as much as possible. New evidence is showing that trees add value to neighborhoods and can in turn, help preserve value and help homes to sell faster. Although studies have always shown the worth of trees in urban cities, these studies have become more important in recent years as we shift our focus toward preserving these trees and investing in more to be planted.
It is these issues that were at the heart of Mark Tercek’s speech last week. A representative of the Nature Conservancy, Tercek says that it’s time to focus on the economic value of nature conservation. He cited several studies, one in Oregon that found that homes sold faster when there were developed trees on the street.
Don’t think that urban trees are just for selling homes, either. The rental market is soaring right now, and these properties can be rented out faster when trees are planted nearby. You can expect, on average, that property will be increased by $5 to $21 a month for these rentals, which is extra money in the renter’s pocket. And for housing sales? Well that’s even more impressive, as a few established trees have been known to increase the value of a home by $7,000.
Cities are often hesitant to invest in new trees, as they are costly and labor-intensive to plant. But it’s important to remember that the value the trees bring to the neighborhood far exceeds these initial costs. If more cities invest in this project now, it can really help properties make back some of their money when the market starts to come back.
To get involved, see what programs exist in your neighborhood that work with trees. Some programs plant new trees, others recover dead and damaged trees. More importantly, trees are an excellent source of clean air and help to reduce pollution, toxins and energy consumed. If you have trees in your yard, you already know the benefits they offer in terms of keeping the home cooler, adding private and providing additional beauty.
Image Source: mikeslandcarellc.com
Source: Triple Pundit
