There’s so much to be done before putting a house on the market that the thought of remodeling or upgrading the exterior of your home can be stressful and intimidating. However, did you know that many of the highest returning home improvement projects you can do involve the exterior of your house?
Check the Annual Cost vs. Value Report
The ROI of different home improvement projects change each year as demands fluctuate and prices vary. That’s why it’s always a good idea to reference up-to-date information. Each year, the Cost vs. Value annual report offers a detailed look at national and regional averages. This year, the top five midrange projects all refer to exterior remodeling or replacing.
• Steel entry door replacement
The highest returning project on the list is replacing your existing entry door with a new steel door. This adds approximately $1,252 to your home’s value, while only costing $1,230. That’s a 101.8 percent ROI, making it totally worth the time and effort.
• Manufactured stone veneer
One of the single biggest statements you can make is installing a manufactured stone veneer. According to the report, the average job costs $7,150, while adding $6,594 in resale value. That’s a healthy 92.2 percent ROI. The estimates are based on a project that calls for replacing 300 square feet of vinyl siding from the bottom third of a home.
• Garage door replacement
As the largest moving object in your home, the garage door is valuable. Replacing an outdated one with a newer version costs somewhere around $1,595, while adding $1,410 in value. That’s an 88.4 percent ROI. However, it’s important that the garage door fits your home’s style. Installing the wrong type of door could actually hurt your home’s value, since the garage door is so visible on most homes.
• Vinyl siding replacement
Replacing your home’s vinyl siding is a major job, but the good news is that you can recoup most of the cost. The average cost of replacing 1,250 square feet of siding (including all trim) is approximately $12,013. Ultimately, fresh vinyl siding adds about $9,694 in value to the home. This means homeowners can recoup 80.7 percent of the investment.
• Wood deck addition
Costing a cool $10,048, the average wood deck addition improves resale value by $8,085. That’s an 80.5 percent return for a practical improvement. When using quality materials such as DuraLife, the return may be even higher.
Other High Returning Exterior Improvements
While those may be the five highest returning exterior home improvement projects according to the Cost vs. Value annual report, they aren’t the only important jobs. Here are a handful of other tasks to consider before putting your home on the market:
• Window replacements
There are a number of reasons to replace old windows with high quality, energy efficient alternatives. In addition to adding to the aesthetic appeal of your home, you can reduce monthly energy costs by eliminating excess heat transfer, diminish outside noise, and allow for easier cleaning. If you choose to install new energy efficient windows – make sure you list this as a selling point when marketing your home. Lower monthly energy bills are a great way to entice buyers.
• New gutters
While gutters are something you rarely consider, replacing an inefficient gutter system with seamless aluminum alternatives can enhance the value of your home by preventing leaks and potential structural damage from water runoff.
• Exterior lighting
Ensuring your home’s exterior lighting system is in working condition is a must. Replace all light bulbs and carefully inspect each housing unit to make sure it’s correctly illuminating your home. When prospective buyers drive by at night, you want the best features of your property to show.
• Talk to your neighbors
If you have a good relationship with your neighbors, asking them to spruce up their lawn before putting your house on the market can improve the feel of the neighborhood. You obviously want to be careful with how you suggest this, as you don’t want to offend them. Just let them know how important the sales process is to you and offer to cover the costs.
• Stage the front porch
Your goal should be to make buyers feel as comfortable as possible. Staging the front porch and entryway is a good way to accomplish this. Some simple floral arrangements, outdoor furniture, and simple accessories will make a good first impression.
Finish With Landscaping
While attending to the exterior of your home will directly impact the actual value of your home in a positive manner, the money you spend on landscaping will impact the perceived value of your home. As real estate agent Janice Leis says, “Having to fight a bush to get to the front door says, ‘Do not come in.’” That’s not the message you want to convey when your home is on the market.
In addition to clearing out crowded landscaping and overgrown brush, don’t be afraid to plant some fresh greenery. In the spring and summer, adding some flowers is a great way to give your property a vibrant burst of color. Fresh mulch around bushes and a nice pressure washing of the driveway and entryway can do wonders, too. In the months leading up to putting your house on the market, it’s a good idea to invest in regular fertilizing. And during the days the home is on the market, be sure to cut the grass with a higher blade setting. This makes the grass appear greener than it may be.
Contact Lakeside Renovation & Design Today
At Lakeside Renovation & Design, we’re committed to servicing the Greater St. Louis area with quality exterior remodeling services. Whether you need new siding, windows, doors, gutters, decking, or anything in between, we can help. Owners Dan and Matt Merrifield have more than 100 pages of positive referrals and never sub-contract work. Our installation crews are fully certified and our work comes with a lifetime guarantee.
If you want to learn more about our services – or have any interest in scheduling a free inspection or complimentary consultation – please don’t hesitate to contact us today. We look forward to speaking with you soon!