With so many great available homes in Idaho right now, it can be hard to make that all important first impression with potential buyers. Smart sellers aren’t deterred from this fact; are getting the most bang for their buck by stepping up the curb appeal.
According to the latest Remodeling Cost vs. Value Report, the National Association of REALTORS® (NAR): “Nine of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects.”
With these exterior projects outperforming their remodeling counterparts, adding a little curb appeal to your home on the market may not only be a good idea but could make all the difference in attracting a buyer and the return on your home.
This is not to say that needed interior updates should be forgotten, as a good second impression within your home may be what seals the deal and can make you stand out from the competition in your area. It is simply that in today’s economy, even according to the National Association of REALTORS: “remodeling projects, particularly higher cost upscale projects, have been losing resale value in recent years because of weak economic conditions.”
The appeal of curb appeal projects, really is that a little money can go a long way. Topping the list? Steel entry doors are returning 102.1 percent of their cost upon resale, these more sturdy exterior doors lending a stability to the homes entrance as well as better insulation value.
While most projects don’t bring the profit returns of steel entry doors, sellers have some other great options for attracting buyers. Here are a few exterior updates that might be worth a look:
Siding and window replacements – 70 or more percent of costs recouped
Midrange garage door replacement – 83.9 percent of costs recouped
Upscale fiber-cement siding replacement – 80 percent of cost recouped
Wood deck additions – 72.8 percent of costs recouped
“It’s important to remember that the resale value of a particular improvement project depends on several factors,” says National Association of Realtors® President Ron Phipps. “Things such as the home’s overall condition, availability and condition of surrounding properties, location and the regional economic climate contribute to an estimated resale value.”
With curb appeal once again reigning supreme it may be a good idea to take a look into what you can do to amp up the outside of your home – what you invest could end up making all the difference in your returns.
Do you need to sell your home in Idaho? Don’t let current market conditions keep you from getting the most on your investment – contact the Idaho real estate professionals at Idaho Properties today to find out how working with a qualified Idaho REALTOR® can help you sell your home or find your next one!