Trees are a consistent feature in many landscapes yet it is hard to image sometimes that they have significant monetary value.
They have incredible aesthetic and environmental value and like any piece of a property they need to be maintained in order to maintain a good value on your property.
So what variables determine the value of a tree? This article provides some starting points to consider when determining the value of your tree but in order to have a definite answer it is always recommended to get professional assistance.
There are four distinct factors to take into consideration when considering the value of a tree; size, species, condition and location.
The size is an obvious factor, the larger the tree the more value it has accrued over time with growth.
There are special formulas that arborists use to calculate an appraisal based upon the size of a particular tree.
The species of a tree is also an important point to consider when equating the value.
Is the tree a common species or is it rare? Is the species durable and adaptable? Does it have aesthetically pleasing characteristics that add overall value to a property? Another point to consider are the maintenance costs associated with a particular species, a species that requires minimal upkeep in your area would in turn produce a better value in the end.
Crucial to determining the value of a tree is the condition that it is in.
A tree that is near dead or dying would have little to no value and is sometimes not even suitable for ideal firewood.
If the tree has been properly maintained over the years and is not in any obvious stress of deterioration it is of higher value.
In order to properly assess the condition, all aspects of the tree must be taken into account; the root system, the branches, the buds and the trunk.
Things like diseases, pests and structural damage can negatively affect the value of any given tree.
Location is a complex factor when determining the value of a tree.
For example trees of the same species and similar size in condition can vary in value when one is located in a forest versus one standing alone on a property.
The tree standing alone on a property can not only add aesthetic value but in turn can act as wind and weather barriers, noise barrier and screening all of which are positive factors for determining monetary value.
Determining the value of a tree is quite often used for insurance purposes and lawsuits.
When you actively decide to determine the value of your tree(s) for these purposes it is essential to consult a certified arborist to help you determine all four of the above factors for an accurate assessment.
The best thing to do in the meantime is keep up the health and vitality of your existing trees and shrubs so you can improve the overall future value.