Are you looking to sell your home for the top dollar? The exterior of your house plays a critical role in the overall value of your property.
First impressions matter; a well-maintained and updated exterior can make or break a potential buyer’s interest in your home.
In this article, we’ll explore the top exterior upgrades that will increase your home’s curb appeal and make potential buyers fall in love at first sight.
With the current hot housing market and seller competition, there’s no time to waste. Let’s get started.
The Best Exterior Upgrades for Resale Value
Here are some of the best exterior upgrades that can boost your home’s resale value, along with their estimated costs and returns.
1. A New Roof
Replacing a roof is expensive, but it is also one of the top exterior renovation projects to tackle in terms of value.
According to realtors, homeowners can get back more than what they spent on a new roof. For example, a new roof that costs $7,500 can increase the resale value by $8,000!
A new roof not only improves the appearance of your home but also its functionality and energy efficiency.
A new roof can prevent leaks, mold, and structural damage that can lower your home’s value. It can also reduce your cooling and heating costs by improving ventilation and insulation.
Consider installing solar panels if you want to make your roof even more attractive and valuable.
Solar panels can increase your home’s resale value by an average of 4.1%, according to a 2019 study by Zillow. Solar panels can also save you money on your electricity bills and reduce your carbon footprint.
If you are looking for a trusted and experienced roofing contractor who can install solar panels, call Gerry’s Roofing & Siding Inc today.
They have provided roofing and solar services for over 30 years and have a portfolio of satisfied customers. They can help you choose the best roof and solar system for your home and budget.
2. Energy-Efficient Windows
Replacing old and drafty windows with new, energy-efficient ones can also boost your home’s value and appeal.
New windows can boost your home’s value by almost the same amount as their cost. For example, new windows that cost $10,000 could raise your home’s value by $9,500.
Energy-efficient windows can improve your home’s comfort and performance by reducing heat loss and gain, lowering energy bills, blocking noise, and enhancing natural light. They can also protect your furniture and carpets from fading due to UV rays.
If you want to make your windows even more appealing and smart, consider installing touchless faucets that can be controlled by an app. These faucets can help you save water and keep your home germ-free.
3. Clean Siding & Garage Door
Better siding and garage doors can make your home more attractive and valuable to buyers. These two elements comprise much of your home’s exterior and can significantly affect its curb appeal.
Fiber-cement siding, a durable and low-maintenance material that comes in various colors and styles, can return up to 76 percent of its original cost for homeowners.
For example, if fiber-cement siding costs $15,000, it could add $11,400 to your home’s value.
Likewise, homeowners can recoup 75 percent of the expense of a new steel front door, which is another sturdy and attractive option that can enhance your home’s security and style.
You can also transform your garage space into a professional business showcase, depending on what you do to save costs on renting.
4. Tidy Landscaping
A well-maintained and attractive landscape can greatly affect your home’s value and appeal.
A 2016 Turf Magazine survey found that homes with advanced landscaping features, such as curved bed lines and large island plantings, tended to sell for more money than homes with simple foundation planting.
Landscaping projects, in general, yield an estimated 39% ROI, but some of the best landscaping ideas for resale value include:
- Planting trees that can add privacy, shade, and beauty to your yard. Trees can also improve air quality and lower energy bills by reducing heat loss and gain. The Council of Tree and Landscapers Approval says that a property’s value can go up by $1,000 to $10,000 on average with a mature tree.
- Adding a water feature like a fountain, waterfall, or pond can create a serene and calming ambiance. A water feature can also attract birds and butterflies to your garden, adding more life and color.
- Creating outdoor living spaces like a deck, patio, or Trueline louvered pergola can increase your enjoyment and comfort. A deck or patio can also provide more room for entertaining, dining, or relaxing. A simple wood deck addition can recover almost 76% of its cost at resale.
- Installing outdoor lighting that can enhance the safety and beauty of your home. Outdoor lighting can also highlight your landscape features, create a cozy atmosphere, and extend your outdoor time. As a result, homes mentioning outdoor lighting in their listing description sell 19 days faster than expected.
- Updating your front walkway and entrance can make a great first impression on potential buyers. You can spruce up your walkway by adding pavers, edging, plants, or lighting. You can also replace your old door with a new one that matches your home’s architectural style.
How to Budget for Exterior Upgrades
Before starting any exterior upgrade project, planning and setting a realistic budget is important.
Here are some tips to help you budget for exterior upgrades:
- Prioritize the projects that will most impact your home’s value and appeal. For example, if your roof is old and leaking or you had an improper roof installation, you should focus on replacing it before adding a water feature.
- Research the average costs of the projects you want to do and compare quotes from different contractors or suppliers. You can use online tools like Thumbtack or HomeAdvisor to find local professionals and get estimates.
- Consider the ROI of each project and how much value it will add to your home. You can use online calculators like Remodeling Magazine’s Cost vs. Value Report to understand how much your home’s value will increase after each improvement.
- Set aside a contingency fund for unexpected expenses or changes. A good rule of thumb is allocating 10% to 20% of your total contingency budget.
- Track your spending and adjust your budget as needed. You can use apps like Mint or YNAB to monitor your expenses and income.
We hope this article has given you some helpful ideas and tips on how to boost your home resale value with exterior upgrades. These tips will also improve the curb appeal of your home and make your home energy efficient.
If you have any questions or comments, feel free to leave them below. Happy upgrading!