What does it mean to "add value" to your property? Initially, you want to know if the home, with the added project, would fetch a higher price in the resale market. Other ways of considering value have to do with what the project will add to your property's utility and good looks. Ultimately, does it create higher satisfaction for you as the homeowner? If so, that may increase property value for potential buyers as well...but not always.
Possible Benefits of Adding a Fence to Your Property
Several aspects of putting up a fence can add to or take away from your home and property’s monetary or utility value. Here are just a few things to think about:
- Privacy – Especially for homes close together or in an urban setting; a tall fence might be the only way to have any privacy for family activity in your yard.
- Curb Appeal – If the fence matches the home and neighborhood architecture, it can add to the home's overall beauty. Privacy fencing can also shield a less-appealing back or side view from the rest of the neighborhood.
- Safety – Fences can keep your kids and pets safely inside your yard while keeping animals and other people outside your property. Fences can be a deterrent for burglary as well.
How a Fence Might Affect HomeValue
Putting up a fence can add to or take away from monetary or utility value for your home and property, especially in urban settings and historic districts. Here are just a few things to think about:
- House style – This is particularly important in a historic district. Your fence style and color should match the architecture and style for the house’s period.
- Your neighborhood – If surrounding homes all have similar architecture and fencing, matching the rest of the community is essential. If a line of row homes has rod-iron fencing, you don't want to be the one with wooden privacy fencing or no fence at all. Conversely, you don't want to be the only home with a fence.
- Fencing materials – Regardless of the style of fence you decide to install, only high-quality materials will result in the look and durability you want. If you cannot afford to do it properly, you won't add much value for resale later, especially if the new owner plans to take it down or replace it when they move in.
- Fence maintenance – A poorly maintained or installed fence looks terrible. If you are not prepared to keep up with regular maintenance, it’ may be better to wait or not install one at all.
- Fence placement – Fences should neither hide the house's front from the curb nor encroach upon a neighbor's property. Either of these can hurt your property's resale value.
Renaissance Development specializes in the historic preservation of brick homes and offers our clients guidance in all their exterior projects. We are experts in brick structures and beautiful urban gardens. Contact us with your questions today!