8 Exterior Renovations to Boost a Home’s Value

Daily Real Estate News | Friday, September 29, 2017

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

“Copyright National Association of REALTORS®. Reprinted with permission.”

 

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