Installing a new fence is a simple way to increase your home's value. Whether you're looking to sell your home in the future, have your property reappraised or simply want to improve the overall appearance, a new yard fence can bump up your property value and act as an attractive showcase for your home.
While this is a general rule, there are many other factors that play into property value as well as proper fence installation. We'll explore:
What factors determine home value
How fences increase home value
As well as other things to consider when installing a new fence
Determining factors of home value
The value of a home is based on a broad range of factors. Many of them — such as neighborhood comparables or "comps" (which include distance to schools, dining, shopping; parking; crime rate; etc.) — are out of a homeowner's control. Other factors can be manipulated by home renovations or projects, some of which are more simple than others.
How yard fences help
One of the most influential factors in determining the value of a home is usable space. While home size is often fixed based on lot size and zoning restrictions, the backyard is where homeowners can add usable space.
Home additions require a lot of time and money and are often not an option for homeowners. Instead it is easier to utilize the space already at hand.
A yard fence provides added privacy so you and your family (or the family that will someday live in your home) can enjoy games, meals, and other activities outside without the prying eyes of neighbors or distraction of traffic.
Upgrades and updates also determine a home's value. Installing a new fence is an easy way to add something new to your home that constitutes an update. And as mentioned, it provides additional usable space.
Fence installation provides homeowners with both utility value and monetary value. For example; While a new fence may require a significant financial investment, it provides privacy and safety for you or families who may purchase the home in the future who have small children or pets. These benefits are considered to be points of utility value.
Things to Consider
The positioning of a new yard fence is important to consider. A well-built vinyl or aluminium fence can instantly enhance a home's appearance. If the house lot is less than perfect, a tall privacy fence can create a more attractive view of the home lot and compliment the visible landscape.
The type of fence can also have an impact on how much value it adds to a home. Typically, aluminum and vinyl fences add more value to the home as they have a much longer lifespan than cedar or other wood. Cost is not directly correlated. Moreover, you should consider the durability and longevity of the materials of your prospective fence.
Neighborhood and home style trends can also play a role in determining how much value is added to a home when installing a new fence. If the majority of homes in your neighborhood have fences, it is reasonable to invest in one yourself. Conversely, if the neighborhood consists of mostly fence-less homes, then installing a fence could dramatically change the appearance of your home and its relation to others on the street. While you may love the idea of your home sticking out uniquely, if the ultimate plan is to sell your home it is important to remember that the majority of people want their house to fit in with the surrounding neighborhood.
No matter what material you choose for your new fence, what style, or even how it will appear in the neighborhood, how well a fence is constructed is of the utmost importance if you are looking to increase your home value. A sloppily done fence does more harm than good to the appearance of a home and yard.
Choosing the right fencing contractor
To make sure your investment is worthwhile and will ultimately increase property value, be sure to research the fencing contractor of your choice thoroughly and look through galleries of past work.
To make the process even easier, check out this free Fence Buying Guide and get on your way to increasing your home value.