Outdoor structures bring a lot of extra enjoyment to our outdoor lifestyles, but they also bring some added value to your home.
We’re doing some digging today to find out why fences increase the resale value of your home. There is a bit of a caveat worth mentioning first though. There is evidence that a new fence will see a good return on investment, depending on the materials you use and your neighbourhood. Houses in typical Ottawa subdivisions with homes close by and neighbours just a few feet away see a much better R.O.I. on their fence purchase than a house that is on its own out in the county, with no neighbours around. That’s not to say that solitude homes won’t benefit from putting up a fence, as you’re about to see, there are many perks to fencing your yard.
COST OF CONSTRUCTING A FENCE
Building a fence is not a small expense. There are of course several factors that weigh in on the price, including the length of the fence (usually measured in linear feet), as well as the material you choose. You’ll also need to consider the height of your fence. In the front yard fences are usually three feet tall, while backyard fences range from five to eight feet. When you break it down, most fences range from $25-$100 per linear foot.
One of the biggest factors to ensure your fence helps to increase the resale value of your home are the materials used to build it. Wood fences are perhaps the most traditional. Homeowners are mixing it up though by choosing to have horizontal boards over vertical. Both can be a naturally beautiful addition to your yard. Iron or Aluminum fences are often used around pools or at driveways. They’re very low maintenance and have been crafted from steel that’s been specifically treated for outdoor use. Vinyl fences have a classic look, with the benefits of modern technology. Maintenance is low and you’ll probably never have to replace it. Finally, there are chain link fences, which don’t provide as much privacy, but they do come with strength and durability, they’re also pretty budget-friendly.
BENEFITS THAT LEAD TO A GOOD R.O.I.
- A good fence offers protection. Homebuyers with dogs or kids want to know their family will be safe. In fact, a study on millennials’ who recently bought their first home found that 33% of them made their decision based on whether or not there was a sturdy and attractive fence.
- Privacy is another major concern of most homeowners. In urban areas especially, buyers like to picture themselves relaxing outback, without nosy neighbours keeping watch.
- A well-maintained, professionally installed fence adds curb appeal, helping to create your own private oasis. But you want to ensure it’s attractive as well as strong, an appraiser will either add or subtract value based on its condition.
- Proper placement of the fence is important for resale value as well. Speak to a professional about your ideas; a privacy fence in the front yard, for example, will likely decrease the value of the home, while having it out back adds value. You also need to consider utility easements and property lines, which is why it’s important to work with a long-standing, professional fencing company, to ensure neither of these becomes an issue.