You’re officially ready. It’s time to sell your home and make your next move.
S0, you start the process by scheduling an appointment with a professional appraiser. They come by your house, take a walk around the property, and finally sit down to give you an estimate of your home’s market value.
Let’s say you’re less than impressed with the figures they come up with. Your home was a massive investment, and you’re determined to increase its value before you sell. How should you go about doing it?
The benefits of great curb appeal
According to a survey by Zillow, real estate experts estimate great curb appeal can add 15% to 20% of value to your home, while poor curb appeal can devalue your home by up to 10%. If you’re trying to find a quick way to boost your home’s value, upping the curb appeal could be a smart way to do it.
Think of your home’s curb appeal as its first impression on potential buyers. Upon first glance, does the house seem inviting, cozy, and well-maintained? Or does it seem outdated and unwelcoming?
When a potential buyer sees that the outside of your home is stylish and taken care of, they’re much more likely to want to see what the rest of the house has to offer. And if the outside of the house turns them off, they might never go inside to see the results of your home improvement projects, like the new wallpaper, the decor, and the fresh new paint job in the powder room.
In this article, we will share a list of five home renovations that offer a great return on investment and could increase your home’s value and curb appeal. After all, you’re putting a lot of time, work, and money into improving your home – why not prioritize the projects that’ll get you the most bang for your buck when it comes time to sell?
Garage Door Replacement
- Job cost: $3,907
- Resale value: $3,663
- ROI: 94%
If your current garage door is looking a little beat up, replacing it could help you snatch up a few extra grand when you put the house on the market. Think about it: Your garage door probably takes up at least 30% to 40% of your home’s front-facing exterior. If it’s in rough shape, potential buyers will notice.
To attract buyers, install a garage door that’s low-maintenance, well-insulated, and sturdy enough to offer some security. To increase the curb appeal, think about adding a few small windows and be sure to choose a color or finish that matches your siding.
74% of homeowners with a car consider a garage to be very important or extremely important, so don’t underestimate the impact this relatively minor renovation can have. With a return of 94%, there’s little chance you’ll regret spending time and money to complete this project.
Manufactured Stone Veneer
- Job cost: $10,386
- Resale value: $9,571
- ROI: 92%
Accenting your home with manufactured stone veneer is a simple way to increase your home’s visual appeal without the high costs of natural stone. Manufactured stone is lightweight, easy to install, and offers a variety of colors and styles.
If you think stone veneer could give your home the upgrade it needs, here’s some information that can help you make the right decision on materials. The two main types of stone veneer are thin stone veneer (or sawn veneer) and full bed stone veneer.
The first type is the one people typically think of when referring to stone veneer. The stone has been sawn to about one inch thick and can be applied like tile.
The second type, full bed stone veneer, uses the full stone. It’s much heavier and more difficult to work with, but less expensive.
According to remodeling.net, removing the bottom-third portion of your street-facing siding and replacing it with stone veneer typically costs around $10,300 from start to finish. With that said, you could recoup around 92%, or $9,570 of that investment when you sell your home.
Vinyl Siding Replacement
- Job cost: $16,576
- Resale value: $11,315
- ROI: 68%
Replacing your existing siding with vinyl siding could be a great way to increase the curb appeal and overall value of your home. Manufacturers design it to withstand the elements, so it’s an improvement that could pay dividends for many years. Vinyl siding comes in a variety of colors and designs, and often has a lifetime warranty.
According to Elizabeth Mendenhall, the 2018 president of the National Association of Realtors, homes painted with neutral and traditional colors typically bring in the broadest range of buyers. She advises sticking to shades of off-white, yellow, light blue, or gray to drum up the most interest.
On average, replacing your home’s siding with vinyl siding might cost you around $16,500. However, the size of your house will be an important factor in the cost. When it comes time to sell your home, around 68% of that expense could go right back into your pocket.
Wooden Deck Addition
- Job cost: $16,766
- Resale value: $11,038
- ROI: 66%
Just about everyone loves the inviting outdoor space decks provide. When potential buyers visit your home, they won’t just see the deck – they’ll see the family barbecues, summer hangouts, and days spent enjoying the outdoors that could all take place there.
Adding a 16×20-foot deck with railings on your property could cost you around $16,700. However, a well-maintained deck holds its resale value well. You could expect to get back around 66% of the project’s cost, or $11,000, once you complete the sale.
Steel Entry Door Replacement
- Job cost: $2,082
- Resale value: $1,353
- ROI: 65%
Your home only has a second or two to make a great first impression on a potential buyer. The color, material, and style of your front door plays a major role in how people perceive your house. If your front door doesn’t make buyers feel welcome, there’s a good chance they won’t walk through it.
Many consumers choose steel doors over wood or fiberglass doors for their durability, security, and energy efficiency. Out of all the projects we’ve mentioned here, replacing your entry door with one made of steel is by far the most affordable and simple to complete.
With an average cost of $2,082 and a 65% return on investment, swapping your door before selling is a quick and easy way to boost your home’s curb appeal and get more money for your home.
Try painting your front door a simple, traditional color for the best results. Experts say shades of dark red, navy blue, green, gray, and black tend to attract the most buyers.
As you can see, increasing your home’s value and curb appeal doesn’t have to be a major undertaking. Relatively minor improvements like replacing your front door and garage door can make all the difference in the world! If your budget allows it, think about tackling the more expensive projects listed here as well – you might be surprised to find out how much more valuable your home could be.
So… what’s going to be first on the to-do list?