Maximum Value Outdoor Structure Projects: Barn
Find out how to get the best real estate value out of this outbuilding.
With its trademark red exterior and weather vane, a classic barn is hard to miss. But these days, with a smaller number of functioning farms on the market, barns on residential properties have become fairly hard to come by.
However, if you do find yourself with a barn, by staying up to date on certain trends and understanding the market for such a prominent structure, a homeowner can actually bring more value to the home and turn the standout feature into a desirable piece of real estate.
- Elaborate decoration. Barns found on a higher-end residential property are predominantly for horses, where trends have grown towards elaborate decoration and amenities. Features found in these types of barns could range anywhere from updated tack rooms and wash rooms, heaters for the horses, heating and air conditioning throughout and even an office and apartment style living space.
According to appraisal expert, Leslie Sellers, president of the Appraisal Institute, understanding the unique market for barns is key. Failing to do so could result in losing home value when it comes time to sell. "Today, a lot of barns are found either on gentleman farms or in polo developments," he says.
Homes in polo developments typically have their own barns and share rings that the development made available for the horses. "In this type of community," Sellers says, "homeowners could bring more value to the home by having a barn, since only buyers who are interested in that kind of lifestyle would be looking to buy in the development." Without a buyer's incentive for such a structure, spending a lot of money to update and add newer technology could instead deter many potential buyers because of the added maintenance and expenses.
- On a Budget: If money's tight but you need more outdoor storage on your property, a shed is a more economical option.
- Mid-Range: If you are looking to add a barn to your property after understanding the market for such a structure, a metal barn can hold many benefits for those on a mid-range budget. Metal barns are cost-effective because they are easier to maintain, involve less expensive materials and are not susceptible to termites and other pests that could cause harm to the structure. Metal barns are also weather resistant and fire resistant, making them more durable.
- High-End: Traditional wooden barns maintain the character and unique charm that is popular with homeowners looking for a classic barn structure. Custom design your barn with elegant detail and sturdy materials, handcrafted and developed by a contractor to suit your needs. Add multi-level storage areas and enlarge the space for animals to make the structure feel open while still being efficient.