Don't Overlook the Trees, Buyers Aren't
Brandi Snowden, Research Survey Analyst | April 28, 2015
The number of trees on a lot can be a powerful influencer for home buyers. 18 percent of repeat buyers and 25 percent of buyers purchasing a new home said that being on a wooded lot or on a lot with many trees was very important to them, according to National Association of REALTORS®' home buyer and seller surveys.
Home buyers in the South and in rural areas stressed the importance of having trees on their property. Twenty percent of home buyers in the South and 30 percent in rural areas thought that having a wooded lot or many trees was very important.
If buyers can't live with a wooded lot, they certainly at least want one nearby. Twenty-three percent of recent buyers surveyed felt that convenience to parks or recreational facilities was an influencing factor for their neighborhood choice.
Living close to parks and recreational facilities was the most important to recent buyers aged 34 and younger as well as recent buyers aged 35 to 49.
Home buyers may not only want trees for beauty but also for savings. At least three trees strategically placed on a lot can save an average household between $100 and $250 in annual energy bills, according to the U.S. Department of Energy.
A study in 2007 by the Arbor National Mortgage found that 84 percent of practitioners believe that a house on a wooded lot would fetch at least 20 percent more than a home on a lot without trees.
Source: National Association of REALTORS® Economists’ Outlook blog