It isn't just blind luck that makes a property increase or decrease in value. As a homeowner, you have control over many of the elements that could cause your home's value to fluctuate one way or the other. While you can't control every last aspect of the housing market in your neighborhood, you can certainly do your part to maximize the value of your property when it comes to the details you can realistically influence.
The home's exterior appearance is well within your control as a homeowner. One of the most straightforward ways to increase the worth of your property is maintaining it well. We invite you to consider 4 of the likeliest ways you could increase your property value by performing exterior home renovations.
1. A Bright, Eye-Catching New Front Entryway
If you spend any time at all studying the homes in high-end neighborhoods or watching HGTV, you've no doubt noticed the trend towards brightly painted, beautifully decorated, eye-catching and attractive front entryways. People are paying attention to front door designs and lavishing lots of love on their entries.
There's logic behind this trend: An impressive entryway increases the property's appeal from the street curb.
Remodeling.net also presents solid financial data to further motivate you in taking action on this particular detail. Their cost versus value report suggests that the average homeowner is likely to benefit substantially from the installation of a new $1,300+ steel door in front of the home by recovering about 91 percent of the value of the door at resale time. It's worth noting that installing a wooden or fiberglass door does not carry the same high-value payoff.
2. Newly Upgraded Garage Doors
Garage doors suffer much abuse in the course of day-to-day living, and many homeowners find they need to be replaced before resale of the home. The good news is that this is another investment that gives a high return in exchange for the money allocated to it. On average, homeowners have been recovering about 91.5 percent of the investments made on new garage doors upon resale of their homes.
These are our top picks for worthwhile, high-value exterior home renovations you can perform. While there are many other useful renovation projects to consider undertaking in addition to these, these four have had a recent track record of paying off handsomely for other homeowners when implemented prior to selling their properties. If you take action on upgrading the items on this list, you're likely to be able to recover a significant percentage of the money spent upfront on the renovations. Implementing these suggestions will result in a greater probability of attracting richer offers and realizing a better final sale price when you work with your real estate agent to sell your home.
3. Exterior Veneer Made of High-Quality Manufactured Stone
Remodeling.net reveals statistics indicating that in the recent past the average homeowner in the United States was able to recover nearly 93 percent of their costs for a $7,000 exterior installation of high-quality manufactured stone veneering. If your home's exterior is in need of resurfacing, this is an investment that makes sense, as it almost entirely pays for itself when it comes time to resell the home.
Of course, it's worth noting that this particular upgrade only makes sense if manufactured stone veneering is a material that's well-suited to your climate and appropriate for your neighborhood. If none of your neighbors are utilizing this material, we suggest consulting your real estate agent for advice before proceeding with this upgrade.
4. Value-Added Landscaping: Colorful Trees, Bushes, Shrubs and Flowers
High-quality landscaping can significantly boost the total worth of your property. The New York Times quotes a Seattle-based landscaper who estimates that an outstanding landscape design is likely to add around 20% onto a home's value. The reporter then cites statistics from actual studies revealing that a more typical range would be from 4 to 15 percent.
Some properties may already have so many mature trees and plants growing that adding new landscaping isn't an option. If that's the case with your property, it's crucial for you to maintain the landscaping you already have. Be sure to prune any dead branches off the trees on your property. Attend to any lawn care tasks that have been neglected such as reseeding bare spots in the grass, applying lawn pest control treatments, or weeding the flower beds.