To increase your home value with exterior projects, you will be focusing mainly on curb appeal which is how “appealing” your home looks from the street. This is a big influencer for potential homebuyers as a good first impression can make a sale (and a bad one can break it). The average return on investment (ROI) for projects that increase curb appeal is 85%-100% according to Zillow. There are also exterior upgrades you can make which increase value without really changing the overall look of the home. Read on to find out which exterior home improvement projects are worth the splurge.
- Replacing your front door: This is a great investment because not only can replacing your front door save you money while you are using it, but it will also increase the value of your home. An energy efficient door can save you on energy costs while simultaneously increasing your curb appeal and resell value. The front door is a huge part home your home’s first impression and a beautiful one can spruce up a more ordinary looking home and attract buyers.
Average ROI 85%-100% - Updated landscaping: Mulch, flowers, lighting, pathways, and more are all easy ways to increase your curb appeal. This makes a good first impression and can last a long time if you have a good gardener who will pick plants ideal for the climate.
Average ROI 85%-100% - Repainting: Research shows that warm and inviting earthy colors are best. A new coat of paint can make your home look much more modern and fresh, which can catch the eyes of a buyer. This is often a step that new owners will take upon moving into a home and being saved the trouble is very appealing.
Average ROI 85%-100% - Updated windows: Updated windows can save you a lot of money on your energy bill and if you live in a particularly harsh weather climate, they can help ensure the safety of your home. New windows can be pricey but are an investment that greatly increases your home value as well as provides value to you while you are using them.
Average ROI 68%-78% - Replacing the roof: Just like with windows, a brand-new roof will help protect your home while adding great value to it. Depending on what you want, a new roof can fully change up the look of your home or you can choose to keep the switch subtle. Regardless, a strong new roof is a very appealing feature for prospective home buyers.
Average ROI 60%-70%
The takeaway: While you may not reap 100% of the cost back for all these upgrades, they are great for attracting buyers to your home when it is time to sell. They all have great return on investment and even if you are not looking to sell, will make your home safer and look more inviting. At Viking Capital, we can now finance home improvement loans. Invest in your future and apply now!
