Will Installing a Fence Add Value to My Home?
You may add fencing to your home for various reasons. It may be security, privacy, or simply an ornamental construction. You may install it yourself or hire professionals to do the job by searching “fencing company near me”. However, homeowners who want to add value to their home via construction and renovation projects aren’t really sure if a fence will add value to their property. Let’s bring some clarity to clear your doubts:
- Position of the fence – Adding a fence to your property can increase its value if you position it right. Apart from improving the overall aesthetics of your home and yard, it can also hide undesirable features. For instance, if you have a lot going on in your backyard and don’t want to show it to every stranger passing by, a tall and strong privacy fence can help. Choose the right materials for its structural stability and make it high enough to keep nosy neighbors out and it can have a tremendous impact on your home’s resale value. However, the position is key. If you install a fence in front of a beautifully landscaped front yard, it can have the opposite effect since it reduces curb appeal.
- Fencing material and design – As mentioned before the material you choose for your fence can have a great impact on value addition. For instance, fences made from strong and dense materials like wood, iron, or concrete can easily recover at least half of the cost of fence construction years after you sell your property. There are many reasons behind it. While these materials are attractive due to their look and style, they also provide security and last for a long time with regular maintenance. So, when potential buyers find a fence made of such materials, they take into account the installation and material cost they don’t have to pay for fencing their property. On the other hand, if you have fencing made from cheap vinyl that doesn’t look good, nor provides adequately strong obstruction during bad weather, you won’t be able to recover at any cost. The same holds for poorly designed fences like chain links and barbed wire fences.
- Neighborhood trends – While fencing is beneficial in many ways, it can reduce the value of your property if it goes against the neighborhood trend. If you live in a neighborhood with open lawns devoid of any fencing at the front, you shouldn’t install one on your property either. You don’t want your property to stick out like a sore thumb and drive away buyers. Similarly, if most homes in your neighborhood are fenced, you should fence your property as well. Even if buyers like your odd property, they would take into account the extra amount they need to put aside for fence construction. That means you get less money and one less card to play on the negotiation table.
- Proper Installation – Installing a fence may seem very easy. However, the difference is clear when a professional does it. A professionally installed fence can stand years of abuse from the elements and hence add a lot of value to your home. DIY installation combined with a lack of experience can produce shoddy results that are undesirable. In such cases, you may have to spend a lot of money to fix the issue and reinstall the fence while bearing the additional loss of materials. That’s why you should let the pros handle it from the beginning.
- Home’s style – While fencing can add value to your home, it may also tank your property price if it doesn’t match the overall style of your home. For instance, if you have a modern and minimalistic home with clean lines, with white and dark shades, a picket fence would look out of place. To get the most out of your investment, try to match the fence with your home’s style to increase overall curb appeal.
- Reduction in insurance rates – Sometimes, installing a fence can add indirect value to your home. For instance, if you have bought your home with a high-interest mortgage, the right type of privacy fence can bring down the interest rates. That allows you to shave away a small amount you need to pay to the bank. This amount adds up to thousands of dollars in the long run and can easily cover the cost of your fence.
- Keep it lower than the appraisal value – Having a fence can also directly add value to your home irrespective of other conditions. For instance, appraisal valuations can add at least a couple of thousand dollars or more to the valuation of your property if it has a fence. The style or the materials used for the fence doesn’t matter. Check out the appraisal reports of the homes in your area and figure out the average value addition due to the fence. If you can keep the construction cost of your fence lower than that value, you can easily get a handsome return on your investment.
- Functional value – Sometimes, value addition isn’t just monetary. If you are a pet owner or have a family with young children, a fence adds a lot of practical value for you. You don’t have to worry about your kids or dog running out of the property on the high traffic street. They can be in the safe confines of the fence without your supervision. A fence can also deter package thieves, trespassers, and burglars to stay away from your property. That’s why installing a fence is a worthwhile investment even if it doesn’t give you a big ROI estimate.
Now that you know how a fence can add value to your home, you should get one installed in your property as well. If you are comfortable with heavy materials and working long hours with tools, you may do the project yourself. If things look too complicated or demand a lot of labor, then you can outsource the project to pros by searching for a “fencing company near me”.