Know Your Timberland Value Before You Sell
Over the past year, prices for lumber have greatly increased. In fact, building a new home with wood is more expensive nowadays because of the increase in the price of wood. If you were considering selling your timberland, now may be the best time to do so. Green Ridge can help you get the best price for your land.
There are a few areas that you will need to assess before you sell. To get the most bang for your buck, take into consideration similar timberland areas for a price point, the value of your timber, the value of man-made features, how unique the property is, and acreage.
Value of Timber
Knowing the value of the timber on your property is really what drives the sale. Is there potential growth? What kind of species can you find on the land? What time do you harvest your timer? You will need a proper timberland consultation to get the true value of your timber. Timber can range in value from a few hundred to thousands of dollars, so if you know what you have on your property, you and your buyer will be more informed on the sale and each will be comfortable in the transaction.
Another hugely important detail to include in your sale is the exact acreage. A survey of your land can be pricey, but it is worth it when it comes to selling. Over the years, the exact acreage may get lost, so always keeping an updated number will come in handy.
Comparable Price Points
Before selling, know the value of similar properties. When you begin negotiations, you can start a little higher than the fair market value and then you can work your way to a price that you and the buyer feel is appropriate.
The Property’s Character
Not all land is the same. That’s what is beautiful about nature. Your property can be set apart from other timberlands just because you have more natural streams or creeks. Maybe you have an acre of wildflowers or a stunning meadow, which will surely increase the value.
If you spend time working on your property to give it those extra details, like putting in a pond or if you have buildings and sheds, those add value to the timberland. Be sure to include those in your valuation of the property.
Contact us today to see how we can help you and be sure to check out our other blog posts for tips, advice, and insight on Pennsylvania forestry management and buying or selling timber!