Valuing Forestland 'Bells and Whistles'

摘要

The phrase "bells and whistles" refers to product features not required for an item's primary function, but options that would be nice to have. Think of a sunroof in a car or an outdoor kitchen athome.Forest landowners generally do not think of bells and whistles with land, though there are plenty of "extras" that a tract of timberland could have. These options might confer added value in the marketplace, and it can be useful to have some idea of which added features contribute value and which do not.In some instances, forest landowners might not care if an optional feature conveys added value; the value comes from added enjoyment. However, for those active in the land market as either buyers or sellers, it's important to consider how the market views these optional features.