3 Ways To Revitalize Your Curb Appeal And Get The Best ROI When You Sell
Summer is here! That means it’s the perfect time to tackle all of those exterior projects that have been piling up. Dust off your workbench and whip out those inspiration boards you have been compiling all winter on Pinterest, because taking advantage of the warm weather is a right of passage for all homeowners.
No matter what projects seem most appealing to you and your lifestyle, there’s always the consideration of if you will get your money back when you sell your home.
One of the biggest factors affecting the ultimate out of pocket expense and return on investment is the cost of labor. Return on investment (ROI) is a common phrase used in many industries, but for a homeowner, it could mean serious financial implications when moving from one home to the next. That’s why it’s essential to look for ideas that you could possibly complete on your own.
Keep in mind that it’s also possible to put too much into your home. While a complete kitchen renovation or a major bathroom update may be highly desirable, you may not get much money back for the effort. Other extensive projects, such as full-blown additions, may not be worth it based on external reasons out of your control, like the neighborhood where your home is located.
One thing is for certain though, if you let your home’s exterior fall to the wayside, you could be paying for it later. Making these improvements now will help with both maintenance and upkeep, as well as give you some much-needed peace of mind. Safeguard your investment and boost your home equity with these amazing tips on revitalizing your curb appeal to get the best ROI when you sell!
Build A Deck
Building a deck is one of the easiest and least expensive ways to boost the curb appeal and value of your house. A deck provides more room for indoor and outdoor living, as well as an added feature for when it comes time to list your home. In fact, many deck additions sport an impressive ROI — up to 85% of the cost of the product.
Some of the main things to weigh when thinking about building a deck are the shape, type of material and size you’d like to build. A deck that is too large or oddly proportioned to your yard, may turn off potential buyers.
Furthermore, any wear and tear that affects the condition of the deck when it comes time to sell could actually hurt your cause more than help. Buyers can always put conditions into their agreement and if one of them is removing the deck, you could be looking at more labor costs than you may have expected.
Update Your Siding
Replacing your siding is no laughing matter when you think about the total cost of the project. While it may be more of an expensive lift, when you take into account that nearly 29% of buyers look for updated siding when browsing the market, it will end up paying for itself in the long run.
Some signs that indicate it might be time to replace your siding include cracked, loose or rotting panels, mold, moisture leaks in the home and increased energy costs.
Luckily, you can choose from several different options for exterior replacement depending on your budget. Vinyl is quickly becoming one of the most popular materials that many homeowners choose due to its low cost and general invulnerability to many conditions. However, it does have some cons as well, like being susceptible to damage from hail or the neighborhood kids’ baseballs.
Natural stone is also a popular option but it comes with a hefty price tag. Though it is aesthetically pleasing, you will have to hire a professional mason to get the job done.
Whichever option you choose, you can rest assured that you will likely see a more than adequate return on investment. Many homeowners reported a 75% ROI and an average cost of roughly $13,000. Considering the number of potential buyers looking for this feature is high, if you replace your siding, the likelihood of your listing selling quicker may also be just as favorable!
Replace Your Roof
This update is one of the most sought after renovations when potential buyers look at listings to find their next home. While it can be a bit of a lift on the homeowner’s side, research shows that a new roof can improve your resale value by almost $12,000, meaning you could get as much as 63% back on your investment.
With a new roof, you can also include added features onto your listing, like being more eco-friendly. New materials in the roofing industry allow for more conscious options when renovating. For example, some asphalt shingles come with an ENERGY STAR rating due to their ability to reflect sunlight and therefore allow you to cool your home with less energy consumption.
Not only that, but a new roof will vastly improve your home’s curb appeal. Tattered shingles or evidence of moss and mold are a clear sign to a potential buyer of the work they will be stuck with after the sale is completed. Similarly to how they can ask for a rotted deck to be removed, they can also put into a contract that a roof is replaced. Instead of taking on the headache while drawing up a contract, be proactive about what you can do to help ease your worries during a season that isn’t fraught with weather inconveniences.
Putting money back into your home is an investment that you get to reap the benefits of! If you’re looking at selling your home in the near future, be sure to make changes a year or so in advance — this will allow you to enjoy them as well! Once these improvements have been made, be sure to check an accurate home value estimator for a fresh take on its worth. Spending a little money here or there can give you a huge bang for your buck in the market, making these improvements worth it tenfold!