You’ve decided to sell your home, which has exciting potential. To ensure you get the best possible price, a realtor may suggest modest home improvements that not only help your home sell faster but also raise its market value. “Homeowners are not only interested in finding ways to live comfortably, but also to improve the value of their homes,” shared Eric Udler, longtime producer of the New Jersey Home & Garden Show, recently held in Edison, NJ.
Unsure which project to choose? In the first of a two-part series, we list the home improvements to the outside of your home that usually offer a good return on investment (ROI). They vary in cost and complexity.
Curb-appeal matters
The exterior of your home is the first thing buyers see, and an attractive exterior can create a good first impression, potentially attracting more buyers. Homes with good curb appeal often appear more valuable and well-cared for, which can justify a higher asking price. Good curb appeal suggests that the home has been well-maintained, reassuring buyers about the overall condition of the property. In a competitive market, curb appeal can make your home stand out from comparable properties.
Garage doors: Garage doors can account for 30-40% of the home’s exterior. If your garage door looks outdated or damaged, replacing it is the home improvement project that gives the largest ROI, averaging 193.9 percent according to Zonda’s 37th annual Cost vs. Value report. [1] A new garage door can improve safety and security with features such as a smart garage door opener. If the door is aluminum or steel and insulated, it can add energy efficiency to the home.
Front Doors: The front door is often a central focal point of a home’s exterior. As a result, it plays a crucial role in the perceived value of your home. A front door replacement can not only upgrade the aesthetic but, like a garage door, it may also add security and extra insulation depending on the type of door you chose.
Stone Veneer: The project with the third largest ROI is adding stone veneer to your home’s exterior. Stone veneer, a faux stone, has high curb appeal. It’s easy to install, lightweight, and comes in a variety of designs and layouts to match any structure. Stone Veneer is durable and requires little maintenance.
Siding Replacement: Vinyl or fiber-cement siding replacement offers an average ROI of 88%, according to Zonda’s report. Updating the siding improves the exterior look, especially if the existing siding is faded, cracked, warped, rotted, or shows evidence of moisture intrusion like mold, mildew, or peeling. Consider the age of the siding: vinyl siding typically lasts 20-30 years with proper maintenance, while fiber cement can last 50 years. Replacing siding can also help improve energy efficiency by reducing air leakage and adding insulation.
Exterior Painting: If the exterior of your house is painted, consider repainting if the paint is flaking, peeling, cracks, or if there is wood rot, water damage or mildew that can’t be removed. Experts suggest using a neutral color that matches the rest of the neighborhood.
Windows: Another exterior project to consider improving curb appeal is replacing the windows. Although windows have a lower ROI compared to the other projects previously mentioned, they should be replaced if they have issues such as drafts, condensation, or visible damage. Simple maintenance, such as painting or replacing the hardware, can also upgrade the windows’ curb appeal.
Roof Condition: The condition of the roof matters not only during the inspection process, but also as a curb appeal element. The entire roof doesn’t necessarily have to be replaced. Depending on the amount of damage, a partial or even individual shingle replacement may be sufficient. The amount of roof replacement needed depends on the amount of damage and age of the existing roof. Make sure to repair buckling or cracked shingles, a sagging roof, ice dams, weather damage, and leaks.
Low-Cost Curb Appeal Improvements
A fresh coat of exterior paint can make your home look appealing and well-maintained. Upgrading or updating lighting can enhance ambiance, and simple landscaping projects, such as flower beds, can improve the yard with pops of color. When it comes to landscaping less is more. Work with a local nursery to find out what is easy to grow and care for in your area.
It is important for the lawn, trees, and shrubs to be trimmed. Make sure walkways, steps, and any large planters or other garden decor are in good condition.
These improvements have a lower ROI but are worth the time and cost to improve the curb appeal. It should be noted that large landscaping projects, such as the addition of a patio or deck, do have a high ROI.
Home improvements to the interior of your home are as important as those to the exterior. Watch for the second part of this series in which we’ll cover the enhancements you can make to the inside of your home that provide a good ROI.
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