How Much Value Does a Fence Add to a House?
Any home improvement or addition adds resale value to property; however, the investment is not always on par with the expense. Adding a back yard fence, for example, takes in many costs versus value factors that every homeowner needs to consider before taking the plunge.
Privacy fences are 4 to 9 feet tall, on average. Adding a fence in the backyard for privacy purposes usually increases marketability for a property with potential buyers when selling. Pet owners with dogs, might require a fence and be reluctant to buy a home lacking one, due to the cost of materials and installation. The standard fence costs $1,000 to $5,000 to install, at time of publication, in most real estate areas; depending on the size of the yard and materials selected.
A chain link fence might be less of an initial cost but the resale value achieved with this addition is minimal at best. Privacy wood fences or solid fences like cast iron or concrete, on the other hand, can net an average of 50 percent of the installation and materials costs on resale in net proceeds to the seller. Fencing materials play a large role in the determination of the overall value during a home appraisal.
- Any home improvement or addition adds resale value to property; however, the investment is not always on par with the expense.
- Privacy wood fences or solid fences like cast iron or concrete, on the other hand, can net an average of 50 percent of the installation and materials costs on resale in net proceeds to the seller.
For a homeowner, a value of a fence might not be utterly monetary in nature. Many homeowners enjoy the added privacy a backyard fence adds, in addition to the capability of landscaping around property lines, enhancing the appearance of the fence and the yard as a whole. The sheer enjoyment having more privacy brings for many homeowners outweighs any potential loss of net profits when selling.
As with any other factor in real estate, placement of a fence comes into play when doing value assessments and even when it comes to practicality. For instance, a privacy fence in a front yard could detract from curb appeal and value but increase value in a backyard. Before placing a fence on a property, homeowners must consider utility easements and any homeowner association bylaws before embarking on the project, to avoid fines from city ordinance violations or homeowner violations.