A key factor in homeowner decision-making 101 is answering the important question: “How will this home improvement project affect the property value?” Yes, any homeowner considering a home improvement project needs to know first what type of return on investment he can expect.
The same rule applies with a fence installation project. Before you install a fence on your Fargo-Moorhead area property, you’ll need to consider first the value of the investment and whether or not it will raise your property value. This is especially the case if you’re planning on selling any time in the near future.
That’s why we’re here at Liberty Fence & Deck Co. with a continuation of our running blog series providing Fencing Tips from North Dakota’s Leading Fence Company. We’ll help you learn how installing a fence affect property value as well as how to maximize your return on investment (ROI).
How Fence Installation Affects Property Value
The implications on property value associated with new fence installation greatly depend on what type of fence is built, why it is built, and how it’s built. Let’s take a closer look at these factors and how they affect a home’s value.
A fence’s value varies greatly depending on what materials it is composed of. Quality materials equals quality fence.
It goes without saying that the better the fencing materials you use, the bigger the investment. At the same time, using better fencing materials also equates to a higher return on investment.
Still, it’s not just about using high quality materials. The property location also matters.
For example, installing a simple chain link fence in an upscale neighborhood could effectively lower the value of the property.
By the same token, building an extravagant fence in a primarily working class area would be a cost that would likely not be returned upon resale.
Generally speaking, residential chain link in any neighborhood is not recommended if you’re looking for a high ROI. Consider springing for high quality and professionally installed wood, vinyl or aluminum fencing.
When choosing your fencing material, aim for increasing property value by choosing top quality materials while avoiding anything that would look too out of place in your neighborhood.
Homeowners install fences to address a wide variety of needs, ranging from boosting curb appeal to ramping up security. The purpose of a fence depends on the neighborhood, position of the house, needs of the family, boundary of the property, and of course, personal taste.
Many potential home buyers house shop with the prerequisite of finding a house with a preexisting fence. Typically, home buyers with children or pets don’t want the added stress, delay, and cost of having to install a new fence before the house is move-in ready. For this type of home buyer, an existing fence is a huge bonus, and perhaps even a must.
When a home is located in undesirable surroundings, positioned closely to neighbors, or next to a busy street, a tall privacy fence bordering the back yard does much to improve the home’s environment, safety, and desirability.
If a home is part of a pretty neighborhood, a short picket or aluminum fence with a lovely gate in the front yard only adds to the curb appeal.
When a fence looks great while performing a function such as enhancing security, increasing privacy, or reducing noise, a fence becomes a true asset to a home as well as a selling point.
If you’re considering installing a fence with property value in mind, be sure to install it with a purpose. Think carefully about the position and height of the fence, and don’t forget to consult neighbors as well as read up on local regulations first. This will minimize the risk of future boundary disputes and keep more money in your pocket.
Opting for a budget fence contractor or a DIY fence installation is almost never in the best interest of your home’s value.
To ensure quality, search for an experienced and reputable fence contractor in your area. Check out their past projects, read customer reviews, and ask questions about any technicalities, such as local permits or where utilities are located on your property.
Hiring a locally trusted and recommended fence company to build your fence can help save you money in the long run and help secure a higher ROI on your fence installation project upon resale.
Install a Fence - Increase Property Value
What is the Return on Investment from Installing a Fence?
The ROI on building a fence averages out to be about the same as an upscale master suite addition, backyard patio, or upscale bathroom addition.
Building a Fence is included in the Home Remodeling Costs Guide’s list of ‘Top 10 Spring Home Improvements with Best ROI’. The Guide explains “ROI will hover around 50% unless going with a well designed and constructed stone or metal fence, which can return at 70% or more.”
Of course, the actual ROI depends on multiple factors and vary on a case-by-case basis. Still, by choosing the best materials that will fit in with your surroundings, aiming for a balance of functionality and beauty, and ensuring quality craftsmanship, you will likely increase property value and get a good return on your fence.
Build a Fence – Increase Property Value
If you’re looking to sell your home in the coming years, installing a top-notch fence is a good way to increase the value of your property.
Contact Liberty Fence & Deck Company for a free fence installation estimate. We will help advise you on what type of fencing materials would be best for you in your neighborhood. Then, we’ll match the fence design to your aesthetic and purpose, ensuring elegance and functionality.
Finally, our team will install the fence with high quality craftsmanship, giving you a fence that will increase the value of your home and hopefully provide a high ROI if ever you decide to sell.
Still not sure what fence is right for you? Check out our Fence Price & Quality Comparison Chart to see what the best fit for your property is.