This week’s question comes from Susan and Bill. Here’s what they had to say: “Mr. Bramblett, we have a fenced-in backyard, but our fence is in need of replacement. My husband thinks we should just remove it and not replace it, but we’re in a family neighborhood and I think a new fence would add value to the house. Is it worth the investment to replace the fence for between $6,000 and $8,000?”
“No fence is better than a fence that’s falling apart.”
My simple answer is yes. A fenced yard is actually one of the top five things buyers are looking for in a home today. It’s near the top of the list for most of them. Given the price you’re being quoted, I believe it would add a ton of value to the home. You might not see a 100% return on your investment, but you will get a large portion of your money back.
One additional factor that could play into your decision is the road traffic near the home. The busier the street, the more desirable that fence becomes to buyers.
I’ve found that in a lot of family-friendly neighborhoods, you do see more fences. If you don’t have one and your competition does, that puts you at an automatic disadvantage. However, no fence is better than a fence that’s falling down or falling apart.
Having a fenced-in yard is an ongoing benefit for your home. If you spend $8,000 in a new fence, you should see at least half of that come back into your pocket, if not more. If it’s nicer than your neighbors’ fences, you may even see a greater return.
If you have any other real estate-related questions from me, don’t hesitate to reach out via phone or email today. I look forward to hearing from you soon.
