Assess tree species, health, and lumber market value carefully

Many homeowners don’t realize that the trees in their yards can actually have significant monetary value. While most people appreciate trees for their natural beauty and shade, few consider them as assets. However, well-maintained trees in good condition can add up to 15% to a property’s value. Some species, especially those that have grown to substantial sizes, can be worth a considerable amount of money. For example, a nondescript elm tree with a 20-inch trunk might be valued at around $30,000, and some trees have been appraised for over six figures. In fact, some trees are so valuable that poachers have been known to invade properties to steal them.

If you’re curious about the value of the trees on your property, there are several ways to find out. One simple method is to use online calculators that estimate the value based on factors such as species, size, and condition. These tools provide an estimate of the tree’s value by considering its contribution to property value through shade, air cleaning, carbon removal, and home cooling. While these estimates are helpful, they are not the same as the actual market value of the tree.

For a more accurate valuation, you can hire an arborist to conduct a tree appraisal. Arborists use scientific methods to determine the value of trees, which is especially useful for insurance purposes or if you’re considering selling a tree. Some companies even buy mature hardwood trees and remove them at their own expense, making an appraisal crucial to ensure you’re getting fair value.

Certain tree species are particularly valuable and in demand. Japanese Maple, Flowering Dogwood, Tricolor Beech, Gingko, and Black Walnut are among the most valuable trees, with prices ranging from hundreds to thousands of dollars depending on their health, maturity, and specific type. Even if your trees are not rare or unique, they can still fetch a few hundred dollars if they’re healthy and mature.

In conclusion, while it may not be something you’ve thought about before, the trees in your yard could be a hidden asset. By determining their value, you can potentially monetize them and make informed decisions about their care and maintenance

Repurposed article originally published in LIFE HACKER