Not all exterior remodeling projects are made equal. Below we have narrowed down the ones that provide the most return on investment when putting your property on the market.
Top 8 exterior renovations that can add the most value to your property
When it comes to selling a property, first impressions can make or break the sale! The exterior appearance and the functionality of a home holds significant importance when estimating a property’s overall value. The 2019 Remodeling Impact Report from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors examined and took an in-depth look at the top 8 most popular exterior renovation projects to determine which would provide the greatest return on investment at resale.
Brand New Roof
Although replacing a roof can be a hefty and expensive job, upon analyzing the data, the 2019 Remodeling Impact Report shows that adding a new roof to your property is the number 1 exterior renovation method to bump up your overall property value. According to realtors, homeowners may recoup a 107% return on their investment. If a roof replacement costs $8,500 and the anticipated resale value to be gained back is $9,000.
Steel Front Door
When looking at a property, one can agree that the front door is one of the first things we notice. Not only is it one of the most important aspects of curb appeal, it can add a wow factor to your property’s overall aesthetic and create a positive image in the buyer’s mind. Steel doors can be one of the most budget friendly ways of increasing your curb appeal. It is highly customizable and offers a large selection of choices to appeal to various tastes and styles. It also provides improved security due to its strong and durable material properties.
Upgrading The Garage Door
Curb appeal can be incredibly crucial when selling a property. Replacing a garage door not only enhances the curb appeal of your home, but it also produces some of the greatest return-on-investment (ROI) figures when it comes to regaining the cost back at resale. The study predicts that homeowners can recover up to 95% of the expenses back from a new garage door when selling their property.
Siding Your Property With Fiber-Cement
Fiber-cement siding is a fantastic investment for homeowners because it extends the durability of a property’s exterior. It requires minimal maintenance, can withstand extreme weather conditions and is rot, fire and termite proof. Homeowners can recover up to 76% of the upfront expenditure when selling, making fiber-cement siding one of the most lucrative options for exterior renovation projects.
Fiberglass Entry Door
Fiberglass entry doors have many positives but are they good enough to invest in when renovating your home? Due to versatility, durability, high performance and low maintenance factors, Fiberglass entry doors can bring a positive boost to a property’s overall value when selling. Homeowners can expect to see a good chunk of their renovation investment back when it’s time to sell.
It is crucial to factor in return on investment when revamping your property and preparing it for sale. One may ask, how much of a difference will updating the windows make? When it comes to attracting buyers, new and upgraded windows can make a huge impact and given the positive attributes of vinyl windows such as superior energy efficiency qualities, durability and low maintenance factors, vinyl windows can get you top dollar for your property when you are ready to sell and you can expect to see great return on your investment.
When a potential buyer is coming to see your property, from the moment they turn into your street they start forming their first impression. Landscaping is a good investment when planning to sell your property because not only does it send the message to the buyer that the property has been well maintained and looked after, it also increases curb appeal and makes the property look more aesthetically appealing. There are short term and long term landscaping options available depending on budget and goals.
Asphalt sealing/driveway sealing is an amazing and budget-friendly way of rejuvenating your property’s exterior aesthetic and works as a preventative measure against wear and tear. Asphalt sealing repairs minor flaws in your driveway pavement without having to do any major renovation and it helps make the process of cleaning and maintaining the driveway convenient and easy. Convenience can serve as a great selling point for potential buyers as well as increasing your overall property value.