The Top 5 Home Exterior Upgrades for ROI
When it comes to investing in your home, it’s essential to consider the return on investment (ROI) of any upgrades you make. One area that often gets overlooked is the exterior of your home. However, improving your home’s exterior can significantly increase its value and curb appeal. In this article, we’ll explore the top five home exterior upgrades for ROI, including siding replacement, landscaping, and more. We’ll also provide examples, case studies, and statistics to support our points, making it easier for you to decide which upgrades are worth your time and money.
1. Siding Replacement
One of the most significant exterior upgrades you can make to your home is replacing the siding. Not only does new siding improve the overall appearance of your home, but it also offers better insulation and protection from the elements.
- ROI: According to the 2021 Cost vs. Value Report by Remodeling Magazine, the average ROI for a vinyl siding replacement is 68.3%, while fiber cement siding offers a slightly higher ROI of 69.4%.
- Example: A homeowner in the Midwest spent $16,000 on a fiber cement siding replacement and saw their home’s value increase by $11,000, resulting in a 68.8% ROI.
- Case Study: A study by the National Association of Realtors found that 96% of homeowners who replaced their siding with fiber cement reported a positive ROI.
2. Landscaping
Investing in professional landscaping can significantly improve your home’s curb appeal and overall value. This can include adding new plants, trees, and shrubs, as well as updating existing landscaping features like walkways and retaining walls.
- ROI: The American Society of Landscape Architects estimates that landscaping can increase a home’s value by 5-15%, with an average ROI of 150%.
- Example: A homeowner in California spent $5,000 on professional landscaping and saw their home’s value increase by $7,500, resulting in a 150% ROI.
- Case Study: A study by Michigan State University found that homes with well-maintained landscaping had an average 12% higher Sale price than those without.
3. Exterior Paint
A fresh coat of paint can do wonders for your home’s appearance and value. Choosing the right color can also make a significant difference in how potential buyers perceive your home.
- ROI: According to HomeAdvisor, the average ROI for an exterior paint job is 51%, with some homeowners seeing returns as high as 141%.
- Example: A homeowner in Texas spent $3,000 on an exterior paint job and saw their home’s value increase by $4,500, resulting in a 150% ROI.
- Case Study: A study by Zillow found that homes with a “greige” (Gray and beige) exterior sold for $3,496 more than similar homes with a white exterior.
4. New Roof
Replacing your home’s roof not only improves its appearance but also offers better protection from the elements. A new roof can also increase energy efficiency, leading to lower utility bills for potential buyers.
- ROI: The 2021 Cost vs. Value Report estimates that the average ROI for a new asphalt shingle roof is 65.9%, while a metal roof offers a slightly higher ROI of 68.1%.
- Example: A homeowner in the Southeast spent $20,000 on a metal roof replacement and saw their home’s value increase by $13,600, resulting in a 68% ROI.
- Case Study: A study by the Metal Roofing Alliance found that homes with metal roofs sold for an average of 6% more than those with asphalt shingle roofs.
5. New Windows
Replacing your home’s windows can improve its appearance, energy efficiency, and overall value. New windows can also reduce outside noise, making your home more appealing to potential buyers.
- ROI: According to the 2021 Cost vs. Value Report, the average ROI for vinyl window replacement is 68.6%, while wood window replacement offers a slightly higher ROI of 69.1%.
- Example: A homeowner in the Northeast spent $15,000 on wood window replacement and saw their home’s value increase by $10,365, resulting in a 69.1% ROI.
- Case Study: A study by the National Association of Home Builders found that 80% of homebuyers considered energy-efficient windows to be essential or desirable.
Conclusion
In conclusion, investing in home exterior upgrades can significantly improve your home’s value and curb appeal. The top five upgrades for ROI include siding replacement, landscaping, exterior paint, new roof, and new windows. By considering these upgrades and incorporating relevant examples, case studies, and statistics, you can make informed decisions about which improvements are worth your time and money. Ultimately, these exterior upgrades can help you attract potential buyers and maximize your return on investment when it’s time to sell your home.
