Will fence increase our home equity?
My husband and I have finally decided it’s time to put up a fence. We’ve been in our new home now for a little over a year and the backyard has pretty much been forgotten about. No one wants to go out there and have all the neighbors staring at us. Plus we’ve promised to get the kids a swimming pool. After looking at several fencing options we’ve decided that we really like the white vinyl privacy fences the best. They also match the rest of the homes vinyl siding and porch. Unfortunately, due to the size of our yard, we’re looking at just over $10000.00 to get it done. We’re hoping to justify some of the cost that this will eventually help us gain some additional equity in the home once of course the housing market gets better again. Are we right? Do you think this will increase our property value in the long run?
We definitely plan on living here for a long time, at least 10 years or more. Thanks!
Even with a pool the value of the house will go up very little. It could however sell faster. Property tax should go up some. I would only put the pool in and the fence if you plan on staying at the home. If you plan on moving you should keep the money in the bank and look at the neighbors and spray the kids with a garden hose.
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