Which Exterior Renovation Adds the Most Value to a House?
Not all exterior renovation projects are created equal. These are the ones that add the most value at resale.
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These 8 Exterior Renovation Projects Add the Most Value
When it comes to selling a home, the first impression is everything. The way the exterior looks and functions can play a big role in its overall value. But not all exterior renovations are created equal. The 2019 Remodeling Impact Report from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors analyzed the eight most common exterior renovation projects and found these are the ones likely to add the most value to a home at resale.
A New Roof
Replacing a roof is expensive, but the 2019 Remodeling Impact Report concludes that a new roof is the top exterior renovation project to tackle in terms of value. Realtors estimate homeowners can recover 107 percent of their original cost. For example, if a new roof costs $7,500, the estimated value gained at resale is $8,000!
Replacing a garage door not only improves curb appeal, the project generates some of the best return-on-investment (ROI) numbers when it comes to recouping the cost at resale. The report estimates homeowners can get 95 percent of their money back on a new garage door at resale.
If homeowners are wondering whether fiber-cement siding is a good investment for their home, the answer is yes. Homeowners can recover as much as 76 percent of the upfront cost, making fiber-cement siding the third best exterior renovation project for adding value at resale.
Steel Front Door
The front door is one of the most important elements for curb appeal and first impressions. According to the report, replacing your existing door with a steel door averages a 75 percent return on investment. For example, if a homeowner spent $2,000 for a new steel door, they could expect to recoup as much as $1,500 when it comes time to sell the house.
Fiberglass Front Door
Fiberglass front doors are long-lasting, energy-efficient and great for curb appeal. But are they good for improving the value of a home? The 2019 Home Remodeling Impact Report shows adding a fiberglass door helps homeowners recoup 74 percent of the estimated project cost when they sell.
It’s important for homeowners to consider the return on investment when prioritizing exterior renovation projects. Does replacing windows add value? Yes, replacing worn out windows with vinyl ones does boost a home’s value, as long as the window installation is done the right way. When they sell, homeowners can recover as much as 71 percent of the upfront remodeling cost of new windows.
Vinyl siding helps increase a home’s value by adding a fresh appearance, durability, low maintenance and energy efficiency. According to the 2019 Home Remodeling Impact Report, a vinyl siding upgrade will increase a home’s value by 63 percent of the project’s cost.
Any type of replacement windows can add value to a home, including installing wood windows. Realtors estimate homeowners can recover 57 percent of what they spent (for example, if they spend $35,000, they’ll recover about $20,000) when it comes times to sell the home.