Once you install a playset in your yard, you might wonder how that playset affects the value of your home. Will it decrease or add value to the property?
This article will cover all the ways having a playset in your yard will contribute to or take away from your house’s value. You will also learn how you can improve your playset to add value to the home.
How a Playset can Affect Your Property Value
Playsets can add value to your home.
Families shopping for a new home often have young children to think about. When a buyer with children sees that a yard already has a playset, it can be a great bonus for the family.
That said, it’s important to know that a house’s value won’t go up necessarily just because you have a playset. The following factors will make a difference.
The overall quality and look of your playset can play an enormous factor in how much value the equipment adds to your home. If you have not been taking good care of the playset’s appearance, you likely won’t impress buyers even if they have children.
If the equipment you use to make the playset is low in quality, buyers may view the equipment as a hazard and not an asset to the home. Make sure that any tools for outside play are in excellent condition and are high-quality.
You can have the most impressive playset in the neighborhood, but if your buyer does not have children, the equipment probably won’t impress them. Or maybe your buyer has children, but they are too old to be playing outside.
You may find a couple who have no children but are looking for a home to start and build a family. By having an area for their future children to play in, they will probably find the equipment appealing.
You can increase the curb appeal of your yard simply by installing a playset. Having a cute and clean playset is a great way to stand out to buyers who have young children, or buyers who have plans for children in their future.
Using high-quality wood to build the playset is also a good way to increase the curb appeal of your home.
Tips for Improving Your Playset and Turning it Into a Value-Add Asset
There are many ways to take your average playset and turn it into a selling point for your home. Here are a few examples.
Keep It Clean
Keep up with the appearance of the playset. Even if the equipment is small, keeping it clean will make the playset much more appealing.
You can also change how you decorate the playset to make it more appealing to a general audience. That way, if a buyer has older children, they may still find it fun to visit the playset if it is not full of cartoon characters.
Keep It Safe
Having an entertaining playset is important, but playset safety will always trump entertainment with parents like you and me.
Your potential buyers might love the idea of having a playset when they buy the house, but they will also want to check how sturdy and safe the equipment is.
Whether your playset is small and simple, or if it is big and elaborate, always make sure that the set is secure and does not pinch or cause any other issues with your kids.
Match the Yard
If your playset has a specific theme, you can change the yard to fit the theme of the playset to boost your home’s appeal.
For example, if your play equipment is blue, you can add blue decorations and lawn furniture to the yard to match. If the equipment sports cartoon characters, you can change your yard decorations to match those characters.
Having everything uniform will make the whole yard interesting to look at.
Will a Playset Raise Your Property Taxes?
A playset will most likely not raise your property taxes. But each area has different laws and regulations that may affect how you have to handle taxes.
To ensure that your playset will have no impact on your taxes, check before setting up the equipment.
Will Having a Playset Cause Your Homeowner’s Insurance Premium to Go Up?
Playsets are usually seen as a hazard by insurance companies. As a result, home insurance companies recommend those who have playset equipment in their yard to increase their liability coverage. Increasing your liability coverage really depends upon who will be using your playset – if just your children will be playing and your backyard is secure from unexpected guests, you may not care for additional coverage.
However, your homeowner’s insurance premium will not automatically go up just because of the playset.
And that’s about it for playset value. Have questions? Let us know.