If you’re planning exterior improvements to your home, you want to choose some projects that provide a solid return on investment. After all, you’re going to be putting time and money into getting these things done. Not only should you enjoy them, but they should also improve the investment that you’ve made in your home. Here are some projects with great returns on investment for you to consider.
1. A New Roof
If your roof is damaged or getting old, you’ll want to consider replacing it. Roofingcontractor.com states that more than five million new roofs are installed each year, making this a very popular home improvement choice. A new roof is expensive, no matter what kind you get. While some options are cheaper than others, you should expect to spend a lot of money. However, new roofs also provide a great return on investment. If a home has a new roof, potential buyers will be more interested in it since they won’t have to pay for a roof replacement any time soon.
2. Landscaping
Cleaning up your yard landscaping can make a big difference in your home’s value. Depending on what kinds of landscaping choices you make, you can significantly improve your curb appeal. While the results will depend on your aesthetic choices, landscaping improvements can increase your property value by as much as 12%. Consider your property, environment, and budget as you plan out your landscaping changes. You can hire a company to do the work for you, installing new fixtures and adding new plants that improve the look and usability of your yard. Once the initial landscaping is done, you can decide whether to maintain it on your own or continue to use landscapers to do it for you.
3. Fencing
Fencing can be a highly beneficial addition to your yard. If you have pets or small children, a fence allows them to play safely in the yard without you having to worry about them escaping. Different types of fencing can provide certain benefits. Some might be better for simply marking property lines and decorating your yard. Others provide privacy and security benefits, even if their look is more utilitarian. Fencing has a wide range of costs, due to the different shapes, materials, and styles available. However, adding any fencing to your yard can provide a return on investment when you go to sell your property later, as many buyers will be attracted to the benefits a fence can provide.
4. Paint
A simple coat of paint can make a big difference in the sale price of your home. If a house has chipped, grimy paint, potential buyers will be turned off. They’ll see it as more work for them to do after they buy the house. It may also make them think that the home isn’t well-maintained. If you decide to paint the exterior of your home, it can be a relatively cheap improvement that will significantly increase your chances of selling the house at a better price. Paint jobs can vary in cost, depending on both the type of paint used and whether or not you hire a service to do it. Regardless, it can be a fairly inexpensive way to get a great return on investment.
5. Hot Tub
Adding an outdoor hot tub to your yard makes it a more social, comfortable place to be. If you plan to live in your house for a long time, this is something you’ll be able to use for years. However, if you’re selling, it can also be a great selling point for potential buyers.
As you plan your exterior home upgrades, keep the potential for increased home value in mind. Certain upgrades provide a higher return on investment than others. These five options work for a variety of budgets, and all of them help to increase the asking price of your home during a sale.
Elor McDori
