Exterior Renovations With The Best ROI
When planning any renovation project, it is essential to ask how much value the finished product will bring to the home. Whether you are interested in selling the property or living in it for years to come, it is still important to consider which renovations will contribute to the overall property value. Here is a list of exterior projects that have a high ROI:
Exterior Paint: A fresh paint job can make a big impact on your property. According to Home Again, the average ROI on a fresh coat of exterior paint is about 43 percent. Just be sure you look for color schemes that fit in with the style of your home and the neighborhood as a whole.
New Siding: Instead of a new paint job, it may be a good idea to replace the siding on your home all together. This can be a great chance to combine regular maintenance with an exterior remodel project.
Outdoor Kitchen: Outdoor kitchens or patio areas are becoming increasingly popular among buyers, making this a top project for property owners looking to boost their ROI. Be careful to research durable materials in order to make sure any new installations withstand the test of time.
Replace Garage Doors: While this change may seem small, replacing the garage door on a property can have a high ROI. Look into options that will blend in with the rest of the home and find options that work within your budget.
Fire Pits: Installing an outdoor fire pit can do wonders for your property. Because buyers want to be able to picture themselves living in your property, adding an outdoor space with a fire pit can make the overall property more desirable.
Top Exterior Home Remodel Trends Of 2020
Many exterior home styles have come and gone over the years, so when renovating your home, you should pay attention to the latest trends in order to get the most out of your home’s curb appeal and see the highest return on your investment.
Exterior Living Spaces: Outside living areas are expected to be in demand additions to homes this year, especially as more people are staying in and entertaining at home. Additions such as outdoor seating areas, gazebos, fire pits, and fireplaces are sure to add value to your property. Overall, revamping your home’s outdoor area to create a welcoming atmosphere will make it more attractive to potential buyers.
Higher Quality Material: Regardless of what renovations you make to your home’s exterior, be sure to use high quality and long-lasting materials. Homeowners are paying attention to the longevity of the home’s exterior and are attracted to features that will be efficient and low maintenance throughout the home’s lifetime. Buyers are expected to look for materials like fiber cement and high-quality insulation that will increase the energy efficiency of the home. Installing turf instead of grass is a water-saving attraction for buyers as well. A home equipped with solar panels is an added energy-efficient bonus.
Earth Tones: Instead of eye-popping bright exterior trends of previous decades, expect potential buyers in 2020 to be searching for more neutral and earthy tones. The endless shades of soft browns and beige colors are becoming increasingly popular, while dark earth tones like charcoal or deep browns are becoming eye-catchers. An attractive exterior will complement the landscaping of the home.
Larger Walkways: As the size of family vehicles increases and buyers are turning away from the once attractive sprawling lawn, the demand for larger walkways and driveways is becoming a larger trend this year. Consider creating a beautiful large walkway and driveway to your home with brick or pavers to make your home attractive to buyers.
Mixing Styles: Modern exteriors, farmhouse designs, and traditional styles are all popular this year, and a noticeable trend among homebuyers is an attraction to a mix of exterior styles rather than just one. Create a modern farmhouse design with sleek wood siding, or add industrial touches with metal features.
Garage Doors: One of the first things that homebuyers notice is the garage door. While it may not seem like an important detail, upgrading your home’s garage door can be a great way to add value to your exterior and complement the overall look of your home.