Let’s talk ROI. When you hear return on investment, you probably think of the stock market. But in today’s world, investing in your home might be a wiser place for your savings. In fact, the return on exterior updates can be even better than you think.
If you’re on a budget, it pays to do a little research before deciding how to invest in your home’s exterior. Whether you’re considering selling your home soon or looking for ways to save money in the long run, there’s a significant return on home exterior updates. With the right approach, you can attract buyers, get more for the sale, and see savings on your utilities to boot! Here’s what you need to know about the ROI on exterior updates.
High Yield Exterior Updates
So, what is the highest yield on exterior updates for your home? It may depend on whether you’re preparing your home for sale or you plan to stay with your home for years to come.
For those planning to sell, it’s all about curb appeal. Improving the look of your home’s exterior with a few critical updates can be a sound investment (and help you fetch a higher price from that potential buyer). Here are a few exterior updates to consider.
New Entry Doors
Your entry doors are the face of your home. It’s the first thing people see when they walk in; chances are, potential buyers will notice a shabby front door immediately. Your entry doors are at eye level, front and center, setting the tone for the rest of your house. Potential buyers are likely to notice if a door looks old and worn, and they will make assumptions about the rest of the home.
On the same note, a new entry door is a simple and affordable update that can really boost your curb appeal and add that polished look to your home. It can also increase the safety and security of your home, which is another draw for potential buyers.
If you’re planning to sell your home, it’s critical that you make sure the roof is up to par. If you have shingles past their prime, they will definitely get noticed by a potential buyer. In addition, a new roof will increase your home’s value, and it’s something that your real estate agent can showcase and promote when they sell your house.
A new roof can also help you ensure that you don’t have any ventilation issues or other problems in your home that could result in an inspection problem. While new roofing requires some investment, the truth is that if your roof is in poor condition, it can become a very costly problem. Your ROI on a new roof makes it a worthy exterior update.
New Siding and Trim
Another exterior update to consider is new siding and trim. Once again, this exterior update boosts your curb appeal and will help your home look its best when it hits the market. First impressions are everything to buyers, so make sure your home looks appealing and well-cared-for at first sight.
New siding and trim are about more than just aesthetic appeal, though. By investing in new siding, you will increase the comfort and temperature control in your home. We’ll remove the old siding and ensure you don’t have any concerns lurking beneath the finish. You’ll be confident that your home is as well-kept as it looks.
Long-Term ROI on Exterior Updates
What if you don’t plan to sell your home right now but instead want to lower your utility bills, increase your home’s safety, and ensure that you aren’t going to run into massive problems (like wood rot, pests, or mold) in the future?
While the above exterior updates offer a sound investment for long and short-term homeowners alike, there are some additional exterior updates to consider as well.
If you want to lower your utility bills, increase the comfort of your home, and mitigate any issues that come with cold (and hot) weather, then new windows are one of the best investments you can make. Replacement windows are surprisingly affordable, and they really update both the look and feel of your home.
Of course, replacement windows are a great idea before you sell your home as well. You can increase the light in your home, make the rooms appear larger, and address any issues with leaks, out-of-style windows, or wood rot (all of which can make buyers beware).
But don’t wait to replace windows until you’re about to put your house on the market. One of the most common comments we hear from our customers is, “I don’t know why I waited to update. My house temperature is so much more comfortable with new windows!”
Other Long-Term Exterior Updates with Good ROI
The same goes for most exterior updates. You may want to reconsider if you’re putting off improvements until you’re preparing to sell. Why not make your home a place you want to live in right now? Upgrading and updating the home you’re in with some strategic exterior updates will increase your curb appeal and comfort—a worthy investment to feel proud of your living space!
The good news across the board is that almost all exterior updates offer significant ROI. For example, a new door can reduce air infiltration, lower energy costs, increase security, and help you rest easy at night. Likewise, a new roof can keep your home healthy, ensure that you have proper ventilation, and protect your family from the hazards of roof issues.
Even a simple investment like trim or siding can significantly increase the comfort levels of your house. When we install siding, we take it down to the base layer, install a new Tyvek HomeWrap, and address any concerns like rotting wood before putting on the new exterior finish. A leaky gutter (or missing gutter, as seen in the video below) can cause major and expensive damage to your house.