A House Flipper’s Guide To Choosing The Right Fenceon August 6, 2019 3:13 am under Guest Post, Real Estate Investment Tips
Flipping homes is the process of revamping distressed properties into more valuable assets. By repairing and improving properties, investors increase the value and desirability of the home. House flippers earn a lump sum of profits from a one-time sale or recoup their investment over time by leasing their properties to renters.
The key to making money as a real estate investor is to increase the value of the home in the eyes of potential residents while not overspending to make such improvements. House flippers must make mindful repairs and upgrades to ensure that the money they use increases the desirability and therefore, value, of the property. It’s easy to overspend on improvements that won’t attract buyers or renters if you don’t have a rehab plan that focuses on ROI.
To make sure that you invest in the right place, take note of what buyers and renters are searching for in a home. Recently, ranking among the most desirable features of a property is a good-looking, reliable fence. Installing a fence on an investment property can generate substantial interest without costing a lot of money. This is because buyers know the inherent value of a sturdy, quality, fence, and prefer to pay more for a house with one. Here are four key factors to consider:
A fence’s practical purpose is to provide protection. A new, functional fence adds a level of security to a home and makes it more difficult for individuals or animals to wander into your yard. This is especially important to enhance security around your back door. Fences can also shield your property from noise if they are tall enough, which is great for homes near busy streets. For this reason, people with pets and kids appreciate the safety and convenience of keeping their loved ones enclosed in a controlled area.
According to real estate experts, adding a fence is one of the easiest and most affordable ways to increase your home’s value. Moreover, not having a fence is a big turnoff to people who greatly need one for a more convenient lifestyle. A good fence can increase a home’s value between $1,500 and $5,000, depending on the type and material. Metal and stone fences have an ROI of 70 percent, while other materials have an ROI of around 50 percent.
The average cost to install a fence is between $1,733to$2,680. Compare this to some other projects like granite countertops that can cost up to $4,500. These additions still add value to the home, but arent as universally eye-catching or in demand as a fence.
Multiple Convenience Factors
According to recent statistics, 68 percent of homeowners (85 million families) in the United States have a dog. If a person with a family dog has a choice between a house with or without a fence, he or she will most likely choose the property that offers the convenience of a fence. Having an enclosed outdoor space fits this persons lifestyle needs better and offers more options for daily pet care. For example, the individual doesnt have to walk his or her dog every morning on a leash, especially during inclement weather or when he or she is ill.
Young families also benefit from a secure fence. Children love to play outside, but it can be exhausting to keep little ones safe when they don’t know their boundaries well. It’s also much safer for kids to play in an enclosed space to protect them from strangers. Many parents will choose a house with a fence to keep their children safeguarded and allow them to play outside without needing to be constantly worried if they will run out of bounds.
A fence is also a critical component of your home’s landscaping. Coupled with beautiful foliage and a well-kept lawn, it makes the home look more complete. It also serves a practical function to define your property line. Nothing is more frustrating than having your neighbors’ kids or animals creep into your property line because it isn’t well-defined. A fence prevents this confusion.
Fences, aside from their many practical purposes, also just look good. Picture a home without a fence and another with a gorgeous, clean vinyl picket fence in its front yard. More often than not, the home with the fence is deemed more attractive. There are so many styles and types of fences out there that range from basic to luxury status. Any fence that is in good shape is sure to enhance your property’s curb appeal.
Here are different types of fences you can install:
- Metal: This material comes in solid colors and is extremely durable. These are often associated with picket-style fences, but they can also be solid and without gaps.
- Vinyl: This is an affordable material that can last for years without much upkeep due to its synthetic makeup. Cool to the touch and difficult to break, these are great for homes with small kids and active pets.
- Composite: These fences are made of a blend of materials that look like natural wood, but dont succumb to the same wear and tear of organic materials.
- Wood: Many homeowners love this classic material because of its natural aesthetic and rich color choices. However, wood needs more care than metal or vinyl and is prone to scratches, wood rot and fading. To prevent these problems, wood requires regular staining to resist fading and water damage.
- Stone: Stone can be used as accent pillars or can even be part of a wall that acts as a fence-like enclosure. A metal/stone combo fence is also common in high-end fencing designs.
- Privacy: Tall fences cost more than shorter fences due to the fact that people pay a premium for privacy. Privacy fences are ideal by poolsides, next to street traffic and practically anywhere you’d like more privacy. Since they are more difficult to jump over, high fences are also excellent for keeping large, active dogs safe.
Every material has something to offer in terms of price, convenience, ROI and other desirable aspects. Talk to your local contractor for prices and to see which material makes sense for your budget. Match your budget and the style of the home to the appropriate material.
Fences in Home Flipping
One of the top features buyers want in a new home is a fence. House flippers should consider the value and attractiveness they are giving their flips with a new fence. It doesn’t cost much compared to other desired home improvement projects, but brings in more interest from buyers. A new fence helps them envision an easy lifestyle in the home.
Author bio: Chris Buenz is owner of First Fence Company in Chicago, Illinois. With more than 18 years of experience in both fencing and sales, Buenz is well-versed in the Chicago-area business market.