Buyers First Impression & The Importance of Curb Appeal
A recent article on RisMedia said that REALTORS® reported that exterior projects are among the most valuable home improvement projects according to the 2014 Remodeling Cost vs. Value Report.
The importance of curb appeal can not be understated because it’s the first impression of all potential buyers. While there are other home improvement areas that also need attention, exterior updates to your property will help sell your home and attract buyers. The article states, “…exterior replacement projects offer the greatest bang for the buck. Projects such as entry door, siding and window replacements can recoup homeowners more than 78 percent of costs upon resale.”
Houselogic.com highlights the “Best for Remodeling Your Home in 2014” with the following suggestions:
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[list_item]Steel Entry Door – Helps with energy efficiency and curb appeal.
National average cost: $1,162
ROI: 96.6%
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Wood deck – Helps provide a generous al fresco living and entertaining area.
National average cost: $9,539
ROI: 87.4%
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Attic Conversion – Helps add valuable living space.
National average cost: $49,438
ROI: 84.3%
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Garage Door Replacement – Helps add curb appeal.
National average cost, midrange steel: $1,534
ROI: 83.7%
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Fiber-Cement Siding – Helps add an upscale feel and offers longevity and resistance to the natural elements.
National average cost: $13,378
ROI: 87%
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[list_item]Replacement Windows – Helps add curb appeal and save money on energy costs.
National average cost, 10 midrange vinyl replacement windows: $9,978
ROI: 78.7%
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[list_item]Vinyl Siding – Helps cut energy costs and is pleasing to the eye.
National average cost, midrange vinyl: $11,475
ROI: 78.2%
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[list_item]Kitchen Update – This remodel has one of the highest average returns over the past 10 years.
National average cost: $18,856
ROI: 82.7%
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That being said, every market/region varies and homeowners looking to sell and take on remodeling projects should first consult with a qualified and experienced realtor in their area – someone that understands the current market and the daily changes that occur. Your realtor can help guide you through the remodel process and point you in the right direction for what projects will provide the most return upon resale.
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