Remodeling for Curb Appeal
If your home has curb appeal, you’ll be able to sell it quickly and for top dollar. That’s why real estate professionals rate exterior home remodeling projects among the most valuable improvements homeowners can make.
If you’re confused about which projects will provide the most return on investment as you prepare your home for the market, take a look at The 2021 Cost VS Value Report, co-sponsored by the National Association of Realtors and Remodeling magazine. It outlines the costs and resale returns on the most popular home improvement projects by region and by average. The caveats are that some improvements will net more returns in certain parts of the country than others and that the return on investment will largely depend on what your home needs most to be competitive.
The Cost VS Value report is different every year. For example, in 2014 the replacement that yielded the highest return on investment was the steel front door, costing approximately $1,100 and returning nearly 97%. In 2021, the steel door was still a popular replacement, but the cost nearly doubled to $2,032 and returned only 65% of investment or $1,353.
Projects such as a new garage door (93.8%), manufactured stone veneer (92.1%), and new fiber-cement siding (69.4%), can return homeowners much of their costs upon resale. Curb appeal is essential to selling a home, according to the list, as nine out of the top ten remodelings/replacement projects are for the exterior of the home.
So why remodel anything if it’s not going to give you back 100%? It’s because the first impression a homebuyer gets is priceless. You want the buyer to choose your home, and quit looking for something better. If buyers don’t like what they see, you may not get the opportunity to wow them with the interior, backyard views, or other amenities.
One way that homeowners can enjoy more space (the top reason homebuyers buy homes, in the first place) is by creating useful living spaces outdoors, as with porches and decks. A wood deck, according to the list, can return as much as 65.8% of the investment.
There are also projects to consider that aren’t on the list, such as driveway repaving, sidewalk replacement with flagstone pavers, updated entries and steps, major landscaping, front porch additions, new fencing, and so on. Your goal should be to make your home appear well cared for, updated, and attractive. That’s what curb appeal is.
Your Berkshire Hathaway HomeServices network professional knows which home features are most important to buyers in your area, as well as which projects will be the most beneficial in selling your home. While you may not get every penny back, you’ll find your home sells more quickly and for more money when you follow their advice.