Oct 02

Exterior Renovations to Boost a Home’s Value

Exterior Renovations to Boost a Home’s Value

 

Exterior Renovations to Boost a Home’s Value

Exterior Renovations to Boost a Home’s Value

Replacing the roof may be the most important upgrade your client can make to the exterior of his or her home, according to the National Association of REALTORS®’ 2017 Remodeling Impact Report. The report takes a look at the cost of the most common exterior and interior renovation projects and gauges how appealing they are to home buyers at resale.

REALTORS® ranked new roofing, vinyl windows, and garage door as the three exterior projects that have the most appeal to buyers. Based on the potential for return-on-investment, the following exterior projects offer the best chances for the biggest returns at resale, according to the report.

New roofing

  • Cost estimate: $7,500
  • REALTORS®’ estimated cost recovered: $8,150
  • Percent of value recovered from the project: 109%

New garage door

  • Cost estimate: $2,300
  • REALTORS®’ estimated cost recovered: $2,000
  • Percent of value recovered from the project: 87%

New fiber-cement siding

  • Cost estimate: $18,000
  • REALTORS®’ estimated cost recovered: $15,000
  • Percent of value recovered from the project: 83%

New vinyl windows

  • Cost estimate: $18,975
  • REALTORS®’ estimated cost recovered: $15,000
  • Percent of value recovered from the project: 79%

New steel front door

  • Cost estimate: $2,000
  • REALTORS®’ estimated cost recovered: $1,500
  • Percent of value recovered from the project: 75%

New vinyl siding

  • Cost estimate: $13,350
  • REALTORS®’ estimated cost recovered: $10,000
  • Percent of value recovered from the project: 75%

New fiberglass front door

  • Cost estimate: $2,700
  • REALTORS®’ estimated cost recovered: $1,800
  • Percent of value recovered from the project: 67%

New wood windows

  • Cost estimate: $35,000
  • REALTORS®’ estimated cost recovered: $20,000
  • Percent of value recovered from the project: 57%

—REALTOR® Magazine

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