Exterior Home Renovations: Homeowners & REALTORS Weigh In on the Best Projects

Posted by Laine Smith on 12/21/15 6:34 PM

Topics: Home Renovations Energy Efficient Homes Selling A Home Property Value Mortgage Goals Home Improvement

Want to update your curb appeal, add energy efficiency or thinking of selling your home soon? Not all exterior home renovations will recoup your investment. According to the National Association of REALTORS ® 2015 Remodeling Cost vs. Value Report, Americans spent over $300 billion on remodeling projects in 2015.

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Here’s what the report found about homeowners who recently completed exterior remodeling projects and how much REALTORS® estimate those remodeling investments are worth for recoup and sale appeal.

New Roofing

Cost Estimate: $7,600

Amount of homeowners who have more desire to be home since completion: 61%

Nearly half of REALTORS have suggested home sellers make this exterior home renovation before attempting to sell. The percent of value recovered from the project is an average of 105 percent.

New Vinyl Windows

Cost Estimate: $15,000

Amount of homeowners who have more desire to be home since completion: 61%

Twenty-one percent of REALTORS have suggest a seller add new vinyl windows before selling with the return of investment reaching 80 percent on average. Vinyl-frame windows are the most affordable window material, extremely energy efficient and don’t require re-painting like their wooden alternatives.

New Garage Door

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Cost Estimate: $2,300

Amount of homeowners who have more desire to be home since completion: 39%

Over one quarter or surveyed REALTORS said they had suggested a seller install a new garage door before listing their home and for good reason; this exterior home improvement recovers an average of 87% of cost. Not wanting to make the investment in replacing your garage door? Here are ways to update without replacing.

New Vinyl Siding

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Cost Estimate: $12,000

Amount of homeowners who have more desire to be home since completion: 63%

While only 6% of REALTORS have suggested a seller add new vinyl siding before listing their home, the cost recovery is significantly high (83%) in comparison to other home cladding options. Overall vinyl is a good option for homeowners who desire low maintenance and durability in their siding.

New Wood Windows

Cost Estimate: $26,000

Amount of homeowners who have more desire to be home since completion: 61%

Compared to vinyl window models, far less REALTORS have suggested replacement to sellers, likely because they receive far less return on their investment at 58 percent. For many homeowners in traditional homes, there is really nothing comparable to the real deal of wood windows. They’re genuine, classic, solid, eco-friendly and still boast energy efficiency. The major drawback is the price tag and the regular maintenance to protect them from weather elements.

New Steel Front Door

Cost Estimate: $2,000

Amount of homeowners who have more desire to be home since completion: 53%

If you are looking to cut costs on an entry door, steel is the way to go. Steel offers the strongest barrier for deterring intruders but if you live in an area with heavy rain, a steel door may last only five to seven years. Though only 7 percent of REALTORS have suggested sellers add a new steel front door before attempting to sell, the percent of value typically recovered from the investment is upwards of 75 percent.

In Remodeling magazine’s 2015 Cost vs. Value Report, a steel entry door replacement was the top home improvement for value.

New Fiberglass Front Door

Cost Estimate: $2,500

Amount of homeowners who have more desire to be home since completion: 53%

Fiberglass is a great option for homeowners who desire limited upkeep. Because fiberglass doesn’t expand or contract much as the weather changes, they can last anywhere from 15 to 20 years without re-painting or re-staining. Fiberglass doors are also considered hard to breech and extremely insulated. A little bit pricier than the average steel door, fiberglass also recoups less of the investment cost, at 60 percent.

New Fiber-Cement Siding

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Cost Estimate: $19,100

Amount of homeowners who have more desire to be home since completion: 71%

Though more expensive than vinyl, fiber-cement siding is still an affordable home cladding option. It has minimal upkeep, is rot-,fire- and termite-proof, unaffected by wind and cold, and can mimic the look of wood clapboards, shingles, stone or brick. Nearly 15 percent of new homes are constructed with this material and this exterior renovation recoups an average of 79% of its cost.

Interested in financing home renovations or improvements? Download our free Rehab & Construction Guide for types of loans that allow you to roll the costs of renovation into your mortgage loan.

Download: Rehab & Construction Guide

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