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Does a Fence Increase Property Value?

If you’re considering selling soon, don’t stake that ‘For Sale’ sign in your front lawn just yet. Any top-notch real estate agent will attest to the importance of tackling some simple home maintenance prior to selling in order to receive the highest closing price for your property. 

Your property’s curb appeal will be one of the biggest influencers in your home’s price point, so many prospective sellers are wondering where to invest their curb appeal dollars. If you’re considering building a fence to increase your home’s value, we’ve laid out the pros and cons below. 

The initial expense of building a fence from scratch

Thanks to the spike in material costs during the COVID-19 pandemic, don’t expect to build a fence cheaply. On average, a fence will cost anywhere from $1,000 to $4,000, depending on material costs, perimeter length, and professional help. 

Unfortunately, there’s no evidence to suggest a fence will add substantial value to your property, but you may retain more money from the building costs depending on your location and buyer needs.

For instance, fences are more desirable in urban areas where homeowners need more privacy. Likewise, those buyers with young children or pets will be more likely to pay more for a home with a fence. If you’re not sure whether or not a fence will appeal to buyers in your area, inquire with your real estate agent for advice tailored to your specific position.

Already have a fence? The case for repairing or removing

There’s no denying building a fence can be an expensive endeavor, but thankfully there are plenty of alternatives. First, if you already have an existing fence, consider repairing rather than building. Unless the fence has serious functionality concerns, you may be able to repair it without seeking professional help. 

Next, consider simply removing the fence rather than repairing. This can defelintely be done without expert assistance, so long as you’re willing to get your hands dirty. While some prospective buyers might be looking for a home with a fence, they can always build the fence themselves after closing. Giving the new owners a chance to decide for themselves how they want to enclose their property may be the safest bet. 

You can still sell the property with foundational concerns in the fence as long as it’s disclosed to the buyer. When in doubt, doing nothing is always an option!

Other curb appeal updates to consider instead

If you’re also searching for a new home, you’ll know that buyers begin to form an opinion on the property the moment they pull into the driveway. This means your home’s appearance from the road is crucial. 

While building a fence is expensive, most curb appeal updates are relatively cheap. Mow your lawn, plant some new flowers in the flowerbed, paint your front door, buy prominent house numbers, and simply ensure everything is neat and tidy. These tasks alone could increase your home’s value far more than building an expensive fence from scratch.

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