Do home buyers consider a fence important when searching for a home? According to Tommy Sibiga at Homes.com, one of the top five things that most buyers tell him are “must haves” when buying a house is a FENCE. Not only do fences increase the demand for your house, but home improvements like adding a fence can actually raise the value of your home. It is a simple and efficient way to give your house a leg up when competing against other homes on the real-estate market. A well-designed fence will create a positive first impression when buyers arrive, plus create a clean, cozy feel to the yard and house that will attract potential buyers.
How Does a Fence Raise My Home’s Value?
Appearances and Fashion
Close your eyes and imagine a picturesque family home. What details do you see? Chances are, your vision includes green grass surrounded by a cozy fence that creates a little oasis around the home. For many, this vision of what they are looking for in a house matters more than the house’s shape and color — it’s the feeling you get when you drive up and your house looks like your own private getaway.
Price vs. Cost-Benefit
The goal when adding a fence is always to have a net home value improvement that is more than the cost of adding the fence. When doing a cost-benefit analysis, however, you also have to consider the intangible benefit of having your house sell much faster – the home value doesn’t reflect the monetary value gained in a quick sale.
When choosing a fence, the first step is to determine the current value of your house. Then, evaluate different types and styles of fencing: which one(s) are the best match for your house and neighborhood? For example, if you own an expensive, larger home, and all of your neighbors have wood or ornamental steel fencing, installing a chain link fence may not increase the value and demand for your house. High-end fencing such as ornamental steel and wood will be in higher demand by home buyers at this price point and will, therefore, increase home value and demand to a higher level.
Conversely, if you have a modest suburban home on a large open lot, a chain link fence that preserves views and minimizes installation cost may be the wiser decision.
Potential home buyers place a high value on privacy in their yard, especially if the house is close to neighboring homes or businesses. Creating a private space using fencing adds intrinsic value to the home; it creates an outdoor “room” in which the buyer can relax and unwind.
Fencing can also be used to define the yard’s outdoor entertaining areas, attracting buyers who enjoy having friends over. Equally important, fencing creates a safe place for kids and pets to play, a huge selling point for families and pet owners.
Increasing the safety of the house will increase its value to potential buyers. Not only does fencing keep unwanted visitors out of the yard, but also can enclose potentially dangerous areas such as pools to prevent accidental access by young children or animals.
This gives you a picture of the many ways in which adding a fence can increase the value of your home, in terms of both monetary value and increasing demand for your home on the market. Not only does the fence result in a high purchase price, but it also can create higher demand and a quicker sale, which can equate to a higher purchase price for the home. How much value the fence will add will depend heavily on installing the right variety of fencing for your home and neighborhood, and on the quality of the installation.
If you want to read more about choosing the right type of fence, check out our What Type of Fence Do I Want for My Yard? guide for homeowners.
The experts at Ivy Fence Company have the knowledge needed to help you choose the type of fencing that will maximize your return on investment, and our installation crew will do a quality job that potential buyers will notice. Contact us today and let us help with your fencing needs.