Home Values: Money Really does Grow on Trees
WASHINGTON – May 2, 2017 – On Friday, the U.S. celebrated Arbor Day, but trees also play a part in raising home values – plus landscaping can boost a home’s value and reduce energy bills.
The U.S. Forest Service Pacific Northwest Research Station says that planting a tree in front of a house increases the home’s sale price by an average of $7,130. So, in essence, money can grow on trees.
Planting a tree on the west side of a home can reduce a home’s energy bills 3 percent within five years and 12 percent within 15 years. Specifically, west-side trees can bring summertime electric bills down by an average of $25 a year and reduce air conditioning use by 30 percent, according to the Forest Service.
Trees and other landscaping can also lower the impact of damaging winds on a home, potentially reducing 35 mph winds to 10 mph, according to the Arbor Day Foundation. This also lessens the load on the furnace working to heat the home.
Additionally, a Clemson University study found that landscaping has the potential to increase the value of homes by about 6 percent. Some of the most desired landscape trends among consumers include: rainwater harvesting, native plants and drought-resistant plants, permeable paving, and fire pits, according to the 2016 Residential Landscape Architecture Trends Survey conducted by the American Society of Landscape Architects.
Source: Erica Christoffer, REALTOR® Magazine; The Davey Tree Expert Company
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