The Spring housing market is ramping up to be a record breaker. According to Forbes.com, 2018's Spring housing market is without a doubt a "seller's market". With low inventory and high buyer demand, now may be the time to put your house on the market.
There are many features a buyer looks for when purchasing a home. Most features are personal preferences, but landscaping is overall a priority for the majority of buyers. Many national surveys have shown large trees on a property can increase the value of a house by 7 to 19 percent. Let's break this down a bit. The average price of a home in the western suburbs of Chicago is $350,000.00. By simply placing a large size tree in the front yard of your property you will have increased the sale price by at least 7% or $24,500.00. Instead of selling your house for $350,000.00 you could sell your house potentially for $$374,500.00. The return on investment makes total sense.
Why Do Trees Increase Your Property Value?
Established- The right tree placed in the right spot adds curb appeal. A buyer would look at a house with planted trees and think of the house as "well established". This translates too little to no work to finish the house, which in the real end means no added cost after the sale of the house.
Energy Efficiency- We all know trees provide shade, but do we know that shade provides property value? Look at it this way, when a buyer is looking to buy a home they are also taking into consideration the additional bills that home will acquire. Trees make for excellent energy savings on heating and cooling. The U.S. Forest Service, says "properly placed trees around a building can reduce air conditioning needs by 30%". Which is great money saved!
Privacy- The feeling of your yard being a tranquil space is much desired. Having a private, luxurious, and relaxing yard will add a desirable space which will translate to higher property value. This also goes back to the feeling of establishment or a "move in ready" backyard. Many buyers look at backyards as additional living space, with trees placed properly, you could potentially be adding square footage to your home.
Lasting impression- Trees provide a lifetime of beauty. Planting trees on your property will give buyers the satisfaction of contributing to their environment while reeking the benefits of its beauty in every season.
Trees can overall be a small investment that leads to a large profit. Many people would say updating your kitchen or bathroom will add the most value to your home, while this is properly true. Planting trees are not far behind that and may even add the most value. The age-old tale says "first impressions are lasting impressions" and the first impression of your home occurs when buyers first drive up to the house.
Buyers love the finished look!
Interested in knowing the average price of a home in your area? Click here for a median listing price map.
