Last Updated on August 18, 2023
You may know the top interior renovations needed to add value to your home; the kitchen, followed by the bathroom(s), provides the greatest ROI. Replacing carpets, installing hardwood floors, and painting the interior a warm neutral tone also make the list.
But what about your exterior? Are there exterior home projects you can do to add value to your home? Yes, there are, and here are the top 7 exterior projects yielding the best ROI.
Replacing your siding
While it may seem like a large investment, the ROI of replacing your siding greatly outweighs the cost. With an ROI of approximately 96.1% regionally for replacing fiber cement siding and an ROI of 98.5% regionally for replacing vinyl siding, this is a worthwhile investment.
Upgrading your garage door
Replacing your garage door instantly upgrades your curb appeal. Matched with your home’s exterior, this one change boasts an ROI of approximately 99.1% upon the sale of your home. If buyers like what they see on the outside, they’re more likely to go inside.
Replacing your front door
Just as upgrading your garage door enhances your home’s value, replacing or repainting your front door yields an ROI of approximately 52.7%. After all, it’s the gateway to your house and should blend the exterior with the interior.
Adding an outdoor fire pit
Creating an outdoor space with a cozy fire pit or exterior kitchen is one of the most valued home enhancements for potential homebuyers. Not only do outdoor spaces provide a unique area for entertaining guests, but adding a fire pit or kitchen to the exterior of your home has an ROI of approximately 67% upon the sale of your property.
Landscape lighting
It adds the finishing touch to great landscaping, but landscape lighting also adds an element of safety to your home. Whether you go all out or keep it simple, consider this easy exterior project for an ROI of approximately 20%.
Landscaping
For around $500 to a few thousand dollars you can create a beautiful landscape for your home. It’s quick and relatively easy to create landscaping that will grow and change the exterior of your home for years to come.
Planting trees
Healthy, mature trees not only add value to your home but also reduce energy costs and provide shelter for outdoor living spaces. Trees can be appraised at $1000 – $10,000 depending on age and type and yield an ROI of approximately 3 – 15% of your home’s value.
Though there are more exterior home projects you can do to improve the curb appeal and value of your home, this list gives you some great ideas that can be done within all types of budgets.
The best part is that you can enjoy your outdoor renovations before you sell and reap the financial benefits when you do sell. So grab your materials and get started!
